EL DORADO, Ark. (AP) _ Murphy Oil Corp. (MUR) on Wednesday reported a loss of $286.8 million in its fourth quarter.
The El Dorado, Arkansas-based company said it had a loss of $1.66 per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to 8 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.
The oil and gas producer posted revenue of $541.6 million in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $587.3 million.
For the year, the company reported that its loss widened to $311.8 million, or $1.81 per share. Revenue was reported as $2.23 billion.
Murphy Oil shares have increased slightly more than 3 percent since the beginning of the year, while the Standard & Poor's 500 index has risen nearly 6 percent. In the final minutes of trading on Wednesday, shares hit $32.10, an increase of 11 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MUR at https://www.zacks.com/ap/MUR
Automated Insights, source Associated Press News