(RTTNews) - Murphy Oil (MUR) reported Thursday that its fourth-quarter net income attributable to the company was $168.40 million or $1.08 per share, compared to last year's loss of $171.94 million or $0.48 per share.
Adjusted net income was $61.9 million or $0.40 per share, compared to loss of $13.5 million or $0.09 per share last year.
On average, analysts polled by Thomson Reuters expected earnings of $0.47 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues and other income climbed to $738.95 million from last year's $330.21 million. Analysts expected revenues of $618.75 million for the quarter.
Revenue from sales to customers went up to $762.31 million from $440.08 million a year ago.
In the quarter, the company produced 150 thousand barrels of oil equivalent per day or MBOEPD with 53 percent oil volumes
In fiscal 2021, the company produced 158 MBOEPD with 87 thousand barrels of oil per day.
Further, the company increased quarterly dividend by 20 percent to $0.15 per share.
Looking ahead for the first quarter, production is estimated to be in the range of 136 to 142 MBOEPD with 53 percent oil volumes. This range is impacted by planned downtime.
The full year 2022 production is expected to be in the range of 164 to 172 MBOEPD, comprised of approximately 52 percent oil and 57 percent total liquids volumes.
Murphy is planning 2022 capital expenditures or CAPEX to be in the range of $840 million to $890 million.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
