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Murphy Oil Corporation (MUR)

  • Oct. 16, 2012, 8:24 AM
    Murphy Oil (MUR) +7.3% premarket after announcing it will spin off its U.S. downstream business into an independent company. MUR also authorizes a $2.50/share special dividend and $1B share buyback program, and says it’s still working to divest its U.K. downstream operations and continuing to review options with respect to "selected assets."
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  • Oct. 11, 2012, 12:57 PM
    Murphy Oil (MUR +2.7%) moves higher after activist hedge fund Third Point wins U.S. antitrust approval to buy an unspecified stake in the company. MUR has climbed 5% since Third Point's Dan Loeb told the fund's investors that shares could be 60% higher if the company would take steps such as selling fuel stations and other downstream operations.
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  • Oct. 5, 2012, 10:21 AM
    Deutsche Bank hikes its price target on Murphy Oil (MUR +1%) to $62 from $56 after hedge fund Third Point revealed a stake in the company. "Third Point has challenged the management directly," DB analyst Paul Sankey writes. "The improved management focus can and has generated improved valuation."
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  • Oct. 4, 2012, 9:41 AM
    Responding to Third Point appearing to take a more active role in the company, Murphy Oil (MUR +1.8%) says the hedge fund "made a variety of suggestions with regard to the company's portfolio and the company values their input... the Board and management have been working to evaluate opportunities."
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  • Oct. 3, 2012, 3:41 PM
    Murphy Oil (MUR +4.3%) shares spike following a CNBC report that Dan Loeb's Third Point hedge fund may take an activist role in the company and has now accumulated a stake of at least 5%. CNBC says Loeb wants MUR to spin off its retail business, sell its Canadian assets, sell its 5% stake in Syncrude and complete its U.K. refinery business exit. (earlier)
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  • Oct. 3, 2012, 10:39 AM
    Murphy Oil (MUR) declares $0.3125/share quarterly dividend, in line with previous. Forward yield 2.24%. For shareholders of record Nov 16. Payable Dec 03. Ex-div date Nov 14. (PR)
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  • Oct. 3, 2012, 9:51 AM
    Dan Loeb's Third Point hedge fund discloses holding 1.5M shares of Murphy Oil (MUR +0.2%) as of June 30. MUR is now the fund's fifth largest position behind YHOO, GLD, AAPL and AIG.
  • Sep. 25, 2012, 4:25 AM
    International regulators have withdrawn proposals for tougher oversight of the physical oil market after opposition from the IEA, OPEC and major oil companies, the FT reports. Regulators had wanted to use only completed deals to set benchmarks and enforce mandatory reporting of transaction data, but will settle for the current system of bids and offers despite acknowledging the potential for manipulation.
  • Sep. 11, 2012, 5:32 PM
    Paul Cheng's key takeaways from Barclays' energy conference: Exxon (XOM) and Chevron (CVX) "offered strategic consistency, downplaying interest in a major acquisition, and a view that current industry trends such as MLP formation and increased mid-continent refining capacity are either unsustainable or insignificant for companies of their size." COP, HES and MUR "remain in transition."
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  • Aug. 1, 2012, 7:48 PM
    Murphy Oil (MUR) declares $0.3125/share quarterly dividend, 14% increase from prior dividend of $0.3125. Forward yield 2.29%. For shareholders of record Aug 17. Payable Sep 04. Ex-div date Aug 15. (PR)
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  • Aug. 1, 2012, 5:19 PM
    Murphy Oil (MUR): Q2 EPS of $1.52 beats by $0.14. Revenue of $7.19B misses by $2.4B. Shares -2.3% AH. (PR)
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  • Aug. 1, 2012, 12:10 AM
    Notable earnings after Wednesday’s close: BMR, BMRN, CAR, CAVM, FSLR, GGP, GMCR, HIG, IVR, LNC, MET, MUR, NGD, NLY, ONXX, PRU, RIG, SM, TS, TSO, UNM, WLT, WMB, WPZ
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  • Jul. 31, 2012, 5:35 PM
    Notable earnings after Wednesday’s close: BMR, BMRN, CAR, CAVM, FSLR, GGP, GMCR, HIG, IVR, LNC, MET, MUR, NGD, NLY, ONXX, PRU, RIG, SM, TS, TSO, UNM, WLT, WMB, WPZ
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  • Jun. 21, 2012, 9:42 AM
    The departure of David Wood as Murphy Oil (MUR -0.4%) CEO took analysts by surprise. Wood was with the company for 17 years and hadn't signaled any plans to step down, Tudor Pickering Holt says; he gave no indication that he might be quitting during a May analyst meeting, Deutsche Bank says in suspecting "some kind of internal issue."
  • Jun. 20, 2012, 5:09 PM
    Murphy Oil (MUR) appoints vice president and general counsel Steve Cossé as President and CEO, effective immediately, replacing David Wood, who is retiring. Roger Jenkins, MUR's vice president of exploration and production, is named to the newly-created position of COO.
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  • May 3, 2012, 3:40 PM
    Murphy Oil (MUR -6.2%) shares slide after Q1 earnings and revenues miss analyst targets, and the company lowers guidance on full-year 2012 production to ~193,000 boepd, the eighth full-year guidance reduction in the last nine quarters. UBS maintains its Neutral rating on the stock but cuts its price target to $60 from $66.
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Company Description
Murphy Oil Corp is an oil & gas exploration and production company with operations in theUnited States, Canada, Malaysia and all other countries.