Murphy Oil Q2 adjusted EBITDA beats estimates, raises 2026 capex outlook
MUR•Outlook
- Murphy Oil raises 2026 capital expenditure outlook midpoint to $1.55 bln from $1.25 bln
- Company maintains full-year 2026 production guidance midpoint of 171,000 BOEPD
- Murphy Oil expects 2026 lease operating expense to be within $10 to $12 per BOE
Overview
- U.S. oil and gas producer's Q2 adjusted EBITDA beat analyst expectations
- Production for Q2 was at the high end of guidance, driven by strong well performance
- Company raised full-year capital expenditure outlook to $1.55 bln due to expanded exploration
Analyst coverage
- The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 11 "hold" and 2 "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 Corp is $42.00, about 9.4% above its August 4 closing price of $38.38
- The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago
Result Drivers and key details
- - Increased capital spending and future plans driven by significant oil discovery offshore Côte d'Ivoire
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