Murphy Oil Corporation MUR incurred first-quarter 2020 adjusted loss of 30 cents per share, which was narrower the Zacks Consensus Estimate of a loss of 35 cents. Further, the figure significantly declined from the year-ago quarter’s earnings of 15 cents.On a GAAP basis, net loss was $2.71 against an income of 23 cents per share in the prior-year quarter.RevenuesIn the quarter under review, Murphy Oil’s revenues totaled $603 million that beat the Zacks Consensus Estimate of $598 million by 0.8%.Murphy Oil Corporation Price, Consensus and EPS Surprise Murphy Oil Corporation price-consensus-eps-surprise-chart | Murphy Oil Corporation QuoteOperational HighlightsThe company received $42 million of cash crude oil hedge settlements and recorded a $358 million non-cash mark-to-market gain on crude oil contracts in the first quarter.The company produced 186,000 barrels of oil equivalent per day (boe/d) in the first quarter, with 59% of oil and 66% of liquids.It reduced planned capital expenditures to a midpoint of $740 million, which indicates approximately 50% decline from the original 2020 capital budget. Meanwhile, the company lowered quarterly dividend by 50% to 50 cents per share.It announced the closure of corporate headquarters in El Dorado, Arkansas and office in Calgary, Alberta.In the quarter under review, Murphy Oil’s total costs and expenses amounted to $1,558 million, up from $546 million in the prior-year quarter.Operating loss from continuing operations came in at $554.5 million against operating income of $84.5 million in the prior-year quarter. The company incurred interest charges of $41 million, down from $46 million in the prior-year quarter.Financial ConditionMurphy Oil had cash and cash equivalents of $407.7 million as of Mar 31, 2020 compared with $286.3 million as of Dec 31, 2019.Net cash provided by continuing operations activities at the end of the first quarter of 2020 was $392.6 million compared with $217.2 million at the end of the first quarter of 2019.Zacks RankMurphy Oil currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Other ReleasesDevon Energy Corp. DVN reported first-quarter 2020 adjusted earnings per share (EPS) of 13 cents against the Zacks Consensus Estimate of a loss of 18 cents.National Fuel Gas Company NFG posted second-quarter fiscal 2020 operating earnings of 97 cents per share, in line with the Zacks Consensus Estimate.TOTAL TOT reported first-quarter 2020 adjusted EPS of 66 cents, which beat the Zacks Consensus Estimate of 55 cents by 20%.5 Stocks Set to DoubleEach was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report TOTAL SA (TOT): Free Stock Analysis Report Murphy Oil Corporation (MUR): Free Stock Analysis Report Devon Energy Corporation (DVN): Free Stock Analysis Report National Fuel Gas Company (NFG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research