Murphy Oil Corp said it will spin off its retail gasoline business in the United States, review options for other assets, pay a special dividend and purchase back shares as it seeks to return more cash to its shareholders.News of the plans sent Murphy's shares climbing more than 8 percent in midday New York Stock Exchange trading.Murphy and a number of other companies, including ConocoPhillips and Marathon Oil Corp, have sold or split off their refining units with the aim of allowing investors to assess the value of the businesses on a standalone basis.The announcement on Tuesday came days after Murphy Oil said it was talking with shareholders, including hedge fund manager Daniel Loeb's Third Point LLC, to find ways to increase share value.
ConocoPhillips is an international integrated energy company. Shares of COP traded higher by 1.55% or $0.8817/share to $57.67. In the past year, the shares have traded as low as $50.62 and as high as $78.29. On average, 6519720 shares of COP exchange hands on a given day and today's volume is recorded at 2229956.
Marathon Oil Corporation (Marathon Oil) is an international energy company engaged in exploration and production, oil sands mining and integrated gas with operations in the United States, Angola, Canada, Equatorial Guinea, Indonesia, the Iraqi Kurdistan Region, Libya, Norway, Poland and the United Kingdom. Shares of MRO traded higher by 2.09% or $0.623/share to $30.49. In the past year, the shares have traded as low as $23.17 and as high as $35.49. On average, 6960020 shares of MRO exchange hands on a given day and today's volume is recorded at 2737464.
Murphy Oil Corporation (Murphy) is an oil and gas exploration and production company with retail and wholesale gasoline marketing operations in the United States and refining and marketing operations in the United Kingdom. Shares of MUR traded higher by 8.9% or $5.25/share to $64.25. In the past year, the shares have traded as low as $43.29 and as high as $65.60. On average, 1887000 shares of MUR exchange hands on a given day and today's volume is recorded at 5166077.
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