Murphy Oil Corporation (NYSE: MUR) Director, Claiborne Deming recently bought 80,000 shares of MUR common stock in two separate transactions.
Deming bought 50,000 shares of MUR common stock at an average price of $60.51 per share. The purchase was made on February 13, according to SEC filing. On February 14, Deming bought another 30,000 shares at an average price of $60.07 per share.
Demingâ€™s purchase came a few days after Murphy Oil reported its financial results for the fourth quarter of 2012. The El Dorado, Arkansas-based company reported net income of $158.7 million, or $0.82 per share for the fourth quarter of 2012. This compares to a net loss of $113.9 million, or $0.59 per share reported for the same period in the previous year.
For the full year 2012, Murphy Oil reported net income of $970.9 million, or $4.99 per share, compared to $872.7 million, or $4.49 per share reported in 2011.
During the fourth quarter of 2012, MURâ€™s income from Exploration & Production (E&P) continuing operations was $145 million, compared to a loss of $144.6 million reported for the same period in the previous year.
The companyâ€™s worldwide production in the fourth quarter totaled 211,833 barrels of oil equivalent per day, up 11% over the fourth quarter of 2011.
Murphy Oil generated a profit from continuing operations of $38.5 million from its refining and marketing business during the fourth quarter of 2012. This compares to a profit of $61 million reported in the same period in the previous year.
MUR shares are marginally higher in trading today. At last check, the stock was trading 0.39% higher at $61.28 on volume of 475,036. Year-to-date, the stock has gained more than 3.3%, underperforming the broad market.
Murphy Oil is an oil and gas exploration and production company.