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Murphy Oil's 1Q Drops, Still Beats Estimates

Stock quotes in this article: MUR  

EL DORADO, Ark. (AP) — Murphy Oil Corp., an independent petroleum producer, refiner and marketer, said late Wednesday its first-quarter income fell 58 percent on sharply lower crude oil and natural gas prices.

The company also said it expects second-quarter earnings per share to fall within range of Wall Street's expectations.

Net income dropped to $171.1 million, or 89 cents per share, from $409 million, or $2.14 per share, in the year earlier period. The results were boosted by a gain associated with the sale of its Ecuador operations in March. ...

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