10:14 AM EDT, 05/02/2024 (MT Newswires) -- Murphy Oil's ( MUR ) shares were up 1.3% in recent Thursday trading after the company reported stronger-than-expected Q1 adjusted net income and revenue.

The company reported Q1 adjusted net income from continuing operations of $0.85 per diluted share, down from $1.24 a year earlier.

Analysts polled by Capital IQ expected $0.82.

Revenue for the quarter ended March 31 was $796.4 million, down from $841.7 million a year earlier.

Analysts surveyed by Capital IQ expected $742.6 million.

The company maintained its 2024 capital expenditures range of $920 million to $1.02 billion.

Price: 44.75, Change: +0.56, Percent Change: +1.28