Murphy Q4 Earnings & Sales Beat Estimates, Reserve Replacement Is 103%

Murphy Oil Corporation MUR delivered fourth-quarter 2025 adjusted net earnings of 14 cents per share, outperforming the Zacks Consensus Estimate of a loss of 7 cents by 300%. However, the bottom line decreased 60% from the year-ago quarter’s 35 cents.
 
GAAP loss was 8 cents per share in contrast to earnings of 34 cents in the year-ago quarter. The difference between GAAP and operating earnings was due to discontinued operations and other items affecting comparability between periods.

In 2025, adjusted earnings per share were $1.37, down 50.4% from $2.76 reported in 2024.

Revenues of Murphy Oil

Murphy Oil’s revenues were $624.6 million, which beat the Zacks Consensus Estimate of $622 million by 0.4%. However, revenues were down 6.9% year over year.

In 2025, total revenues were $2.72 billion, down 9.9% from $3.02 billion reported in 2024.

Murphy Oil Corporation Price, Consensus and EPS Surprise

Murphy Oil Corporation price-consensus-eps-surprise-chart | Murphy Oil Corporation Quote

Murphy Oil’s Operational Highlights

Murphy Oil produced 181,400 barrels of oil equivalent per day (BOE/D) in fourth-quarter 2025 (excluding non-controlling interest in GOM), within the guided range of 176,000-182,500 BOE/D.

Total costs and expenses were $565.2 million, down 3.5% from $585.8 million in the year-ago quarter.

Interest expenses in the fourth quarter were $22.7 million, down 48% compared with $43.7 million in the year-ago quarter.

The company is exploring new opportunities in the Gulf of America, Morocco, Côte d’lvoire and Vietnam, which will further strengthen its production volume and operations.
During 2025, the company brought online 48 operated wells and 18 non-operated new wells.

Through 2025, Murphy Oil has returned $288.8 million to its shareholders, which includes $102.6 million of share repurchases and $186.2 million in dividends. The company still has $550 million remaining under its share repurchase authorization.

At the end of 2025, total proved reserves (excluding NCI) stood at 715 million barrels of oil equivalent (MMBOE), with oil accounting for 36% and liquids for 41%. The company achieved a reserve replacement ratio of 103% in 2025.

Financial Condition of Murphy Oil

The company had cash and cash equivalents of $377.2 million as of Dec. 31, 2025, compared with $423.6 million as of Dec. 31, 2024. It had $1.6 billion of liquidity as of Dec. 31, 2025.

Long-term debt totaled $1.38 billion as of Dec. 31, 2025, compared with $1.27 billion as of Dec. 31, 2024.

Net cash provided by continuing operational activities in 2025 was $1.25 billion compared with $1.73 billion in 2024.

Board of directors of Murphy Oil approved an increase in the quarterly dividend rate to 35 cents from 32.5 cents per share. The new annualized dividend will be $1.40 per share.

MUR’s 2026 Guidance

MUR expects its first-quarter 2026 production, excluding NCI, in the range of 164,000-172,000 BOE/D. The company expects its exploration expenses in the range of $100-$140 million in first-quarter 2026.

Murphy Oil plans to invest in the band of $1.2-$1.3 billion in 2026.

MUR expects its 2026 production (excluding NCI) to be in the range of 167,000-175,000 BOE/D, with 50% expected to be oil.

Zacks Rank of Murphy Oil

Murphy Oil currently has a Zacks Rank #4 (Sell). 

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Upcoming Releases

Devon Energy Corp. DVN to report fourth-quarter 2025 earnings per share (EPS) on Feb. 17, 2026, and the Zacks Consensus Estimate is pegged at 86 cents, which indicates a decline of 4.4% in the past 60 days. 

DVN’s long-term (three-to-five years) earnings growth rate is currently pinned at 3.28%. The Zacks Consensus Estimate for 2025 EPS is pegged at $3.94, indicating a decline of 1.25% in the past 60 days. 

TotalEnergies SE TTE to report fourth-quarter 2025 earnings per share on Feb. 11, 2026, and the Zacks Consensus Estimate is pegged at $1.80, which indicates an increase of 5.88% in the past 60 days.

TTE’s long-term earnings growth rate is currently pinned at 2.66%. The Zacks Consensus Estimate for 2025 EPS is pegged at $7.15, indicating an increase of 0.7% in the past 60 days.
 
Canadian Natural Resources Limited CNQ is expected to report fourth-quarter earnings on Mar. 5, 2026, and the Zacks Consensus Estimate is pegged at 53 cents per share, which indicates a decline of 11.67% in the past 60 days.

The Zacks Consensus Estimate for 2025 EPS is at $2.58, indicating a decline of 0.4% in the past 60 days. 



 

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