Murphy Oil Corporation ( MUR ) shares are trading lower on Thursday after the company reported 2024 fiscal-year fourth-quarter earnings before the market opened.

What To Know: Murphy reported revenue of $670.96 million, missing analysts estimate of $741.18 million. In addition, the company reported adjusted earnings per share of 35 cents, missing analysts estimate of 57 cents.

Furthermore, Murphy reported net debt at about $850 million, the company’s lowest in over a decade. It reported adjusted EBITDA of $321 million.

“I am pleased that in 2024, we continued to focus on our priorities of Delever, Execute, Explore and Return. As a result, we achieved Murphy 3.0 of our capital allocation framework, strengthened our balance sheet, increased our liquidity, made two impactful discoveries and advanced our Lac Da Vang field development project in Vietnam,” said Eric M. Hambly, President and CEO of Murphy.

Murphy issued guidance for the 2025 fiscal-year. It sees capital expenditure of between $1.13 billion and $1.28 billion.

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MUR Price Action: At the time of writing, Murphy shares are trading 6.24% lower at $27.35, according to data from Benzinga Pro.

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