Murphy Oil Corp.'s (NYSE:MUR) earnings in the second quarter soared 71 percent, driven by higher gas and oil prices, along with margins from motor fuel.
Earnings reached $272.3 million for the quarter, or $1.41 a share, against the $158.8 million, or 83 cents a share, in the same quarter last year.
Analysts had estimated earnings of $1.21 a share.
Revenue increased to $5.59 billion, up from the $4.56 billion in last year's second quarter. That was below analysts' expectations, who were looking for $6.36 billion.
Average oil production on a daily basis globally was 189,951 barrels of oil equivalent, an improvement of 33 percent over last year.
Guidance for the third quarter was for earning of $1.10 to $1.15 a share.
Murphy also announced their Board of Directors has declared a quarterly dividend increase of 10 percent, to 27.5 cents a share, equal to $1.10 annually.
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