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Murphy Oil Q3 adjusted EBITDA beats estimates

By Reuters News


Overview

  • U.S. oil and gas producer's Q3 production exceeded guidance, driven by well outperformance and minimal downtime

  • Q3 adjusted EBITDA beat analyst expectations


Outlook

  • Murphy Oil expects Q4 production of 174,000 to 182,000 BOEPD

  • Company raises 2026 production guidance to 176,000-178,000 BOEPD

  • Murphy Oil maintains 2026 CAPEX guidance at $1.55 bln midpoint


Result Drivers

  • PRODUCTION OUTPERFORMANCE - Co attributed Q3 production beat to accelerated Eagle Ford well completions, strong well performance and lower royalties in Tupper Montney, and minimal storm downtime

  • COST EFFICIENCY - Co said Eagle Ford Shale program achieved 26% reduction in well cost per lateral foot and strong well performance

  • NEW PROJECTS ONLINE - Co achieved first oil at Lac Da Vang in Vietnam and brought Chinook #8 online in Gulf of America


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Net Income

$171 mln

Q3 Adjusted EBITDA

Beat

$511 mln

$488.57 mln (10 Analysts)


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 12 "hold" and 3 "sell" or "strong sell"

  • The average consensus recommendation for the oil & gas exploration and production peer group is "buy."

  • Wall Street's median 12-month price target for Murphy Oil Corporation is $42.00, about 6.4% above its November 3 closing price of $39.46

  • The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 12 three months ago


Reuters Recommended Reads

  • Nov 3 - Bayer raises 2026 profit outlook as pharma business beats expectations

  • Nov 3 - Matador Q3 adjusted EPS and net income beat estimates on record production

  • Nov 3 - SM Energy Q3 profit misses on operational downtime


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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