Murphy Oil Corporation (MUR)

SHARE REPURCHASE PROGRAM UPDATE

Murphy also announced today that it has completed $300 million in share repurchases as of the end of the second quarter, which is part of a previously authorized and disclosed $500 million program. Murphy purchased 11.4 million shares outstanding, a 6.6 percent reduction from 173.6 million shares outstanding as of April 30, 2019, at an average price of $26.34 per share. The current share repurchase program expires year-end 2020.

“Murphy remains committed to spending within cash flow while investing in our new Gulf of Mexico assets. We continue to strongly support our shareholders with industry-leading dividend and share buybacks this year. Murphy’s recent transactions further align our high-margin and oil-weighted production, with approximately 90 percent of oil volumes expected to receive premium realizations to WTI,” stated Jenkins. “We have repositioned our portfolio with multiple successful transactions while maintaining our strong balance sheet and liquidity position. Following our three major transactions over the last nine months, we are now set up for a transformed future with no revolver borrowings and liquidity of more than $2.0 billion.”

(Bloomberg) -- Gasoline demand surged to a a record high as Americans took to the road for the July 4th holiday weekend.
Gasoline supplied, a proxy for demand, rose to 10 million barrels a day the week ended July 2, the highest in data going back to 1990, according to the Energy Information Administration.
Demand has regained its footing as vaccinations and easing economic restrictions propel more Americans to resume their pre-pandemic lifestyles. Oil prices have risen almost 50% this year as U.S. refineries run close to full-bore to keep up with fuel demand. While the U.S. recovery quickens, the world’s largest oil producers can’t agree on how to supply the market with Saudi Arabia advocating for tempered supply increases given the potential headwinds that still exist.
“Demand is bucking with the price spikes and summer driving, but with high gas prices and inflation, the picture in September may look different,” said Trisha Curtis, co-founder of PetroNerds.
The moving average for demand also climbed higher, reaching the most since late 2019. But on a seasonal basis the figure was still about 150,000 barrels a day short of July 2019, suggesting the market still has some room to recover.
U.S. motorists hit the road in large numbers despite contending with the highest gasoline prices since 2014. The average pump price Thursday was $3.14 a gallon, according to auto club AAA.
© 2021 Bloomberg L.P.

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Please have a look at ticker ILUS as well my fellow investors, they are rapidly expanding & uplisting in 2022. ILUS International is a rather new company, they have increased profits and revenue every quarter since inception. ILUS Q1, 2022 revenue is up 482% over Q1, 2021. This does not even include the revenue from a couple of their most recent acquisitions. ILUS just announced a 100-million dollar plus in revenue acquisition on 7/8/2022. In addition to this large acquisition, ILUS has just announced that they will merge Wikisoft (a recently acquired ILUS company) into their new 100 -million dollar in revenue acquisition - Quality International. The merger of WSFT with Quality International will become an ILUS company called Quality Industrial, and will list on Nasdaq under ticker ERT. ERT is part of the ILUS conglomerate. ILUS is indeed a conglomerate, with several different companies and divisions under the ILUS umbrella. ILUS manufactures EV's, UAV's, and Drones to name a few of their many business endeavors. They are also involved in Urban Mining, the Metaverse, and the very lucrative firefighting and fire safety technology sector. ILUS holds patented firefighting / safety technology. They are developing technology to assist with the containment of both EV battery, and wildfires. The wildfires out west are a major concern and solutions are being developed. ILUS is looking to save lives. They have had several meaningful discussions with the state of California, among other states as well. ILUS is an M & A company and growing fast. ILUS is about to begin manufacturing the E-Raptor, the worlds first and only six-wheel, all electric utility vehicle. This will take place at the new 600,000 plus square foot facility in Serbia. It is a part of the significant deal that ILUS has recently signed with the European Union. ILUS will incorporate in the manufacturing process their own urban mining / battery recycling into their EV lines. ILUS has completed "7" acquisitions in the last 18 months. Vira Drones is one of the more significant. The estimated valuation is over 1- billion dollars. ILUS has also reduced their number of outstanding shares by 180 million shares. Please see OTC Markets for their most recent share reduction that has been posted. ILUS International is in a very substantial, long-term agreement with the European Union, and will begin manufacturing a variety of vehicles including those used by the military and defense sectors in Europe, as well as the private sector. ILUS is at least worth a look, certainly undervalued. ILUS has several new acquisitions and revenue sources yet to be officially announced. They are all very significant acquisitions as far as the revenue in which they will add to the already strong balance sheet. (Please see Yahoo Finance for recent news & updates)

APC bought by Chevron, can MUR be next target in same oil-reated field?
The bad news, if it happens, MUR takeout price will not come close to its highs prior to 2014 of over $60+.
More than likely MUR top out at $35.
Hold, pray MUR goes higher and maybe stay over 30 (someday).
Longs still underwater with oil collapse but how long the upside (months?)