Murphy Oil Corporation Announces Close of Malaysia Portfolio, Executes $300 Million Share Repurchase Program
Murphy Oil Corporation (MUR)
Last murphy oil corporation earnings: 1/30 06:00 am
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ir.murphyoilcorp.com
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Source: Business Wire
EL DORADO, Ark.--(BUSINESS WIRE)--Murphy Oil Corporation (NYSE: MUR) (“Murphy”) announced its subsidiary closed the sale to divest the fully issued share capital of the entities primarily conducting Murphy’s operations in Malaysia to a subsidiary of PTT Exploration and Production Public Company Limited (“PTTEP”). The transaction was previously announced on March 21, 2019, with an effective economic valuation date of January 1, 2019. After closing adjustments, Murphy will receive proceeds of approximately US$2.035 billion, and expects to report a gain on the sale of approximately $1.0 billion. Murphy does not anticipate tax liabilities related to the transaction.“We would like to congratulate PTTEP on the purchase of their new asset. As our talented and committed Malaysia team transitions to their new owner, I am confident they will diligently work to ensure continued success in the country. Also, I would like to thank our long-term partners PETRONAS, PETRONAS Carigali and Pertamin
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News
- Murphy Oil Co. (NYSE: MUR) had its price target raised by analysts at KeyCorp from $50.00 to $54.00. They now have an "overweight" rating on the stock.MarketBeat
- Murphy Oil Co. (NYSE: MUR) had its price target raised by analysts at Piper Sandler from $49.00 to $55.00. They now have an "overweight" rating on the stock.MarketBeat
- Murphy Oil Co. (NYSE: MUR) had its price target raised by analysts at Mizuho from $53.00 to $55.00. They now have a "buy" rating on the stock.MarketBeat
- Murphy Oil Co. (NYSE: MUR) was downgraded by analysts at Scotiabank from a "sector outperform" rating to a "sector perform" rating.MarketBeat
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MUR
Earnings
- 1/25/24 - Miss
MUR
Sec Filings
- 4/1/24 - Form 4
- 4/1/24 - Form 4
- 3/21/24 - Form ARS
- MUR's page on the SEC website