Murphy Oil Corporation MUR delivered second-quarter 2018 earnings of 36 cents per share, surpassing the Zacks Consensus Estimate of 35 cents by 2.9%. Further, the figure was significantly better than the year-ago quarter’s loss of 11 cents.On a GAAP basis, net income per share was 26 cents compared with a loss of 10 cents in the prior-year quarter.RevenuesIn the quarter under review, Murphy Oil’s revenues totaled $618.2 million, surpassing the Zacks Consensus Estimate of $598 million by 3.4%. The top line increased 21.6% on a year-over-year basis.Murphy Oil Corporation Price, Consensus and EPS Surprise Murphy Oil Corporation Price, Consensus and EPS Surprise | Murphy Oil Corporation QuoteOperational HighlightsThe company produced 170,993 barrels of oil equivalent per day (boe/d) in the second quarter up 5% than year ago figure of 162,857 boe/d. The production exceeded guidance range of 166,000 to 169,000 boe/d, courtesy of improved performance in the high-margin Front Runner, Clipper, Thunder Hawk and Kodiak Fields in the Gulf of Mexico.Murphy Oil sold 170,681 boe/d, up 6.5% from 160,203 boe/d in the year-ago quarter.Murphy Oil’s total costs and expenses were $476.1 million, up 6.5% from $446.7 million in the year-ago quarter.Operating income from continuing operations came in at $142.1 million, higher than $61.6 million in the prior-year quarter. The company incurred interest charges of $44.7 million, down 1% from $45.1 million in the prior-year quarter.Financial ConditionMurphy Oil had cash and cash equivalents of $901.3 million as of Jun 30, 2018 compared with $965 million as of Dec 31, 2017.Long-term debt was $2,897.3 million as of Jun 30, 2018 compared with $2,906.5 million as of Dec 31, 2017.Net cash provided by continuing operations activities at the end of first half of 2018 was $624.5 million, higher than $591.5 million at the end of the first half of 2017.In the reported quarter, the company’s total capital expenditure was $300.7 million compared with $200.5 million in the year-ago quarter.GuidanceMurphy Oil expects net production for third-quarter 2018 in the range of 166,500 to 168,500 boe/d. For 2018, production is estimated in the range of 168,500 to 170,500 boe/d.The company expects 2018 capital expenditure budget to be $1.18 billion.Other ReleasesAnadarko Petroleum Corporation APC reported second-quarter 2018 earnings of 60 cents per share, lagging the Zacks Consensus Estimate of 54 cents by 10.0%.Newfield Exploration Company NFX reported second-quarter 2018 earnings of 94 cents per share, beating the Zacks Consensus Estimate of 81 cents by 16.1%.Cabot Oil & Gas Corporation COG reported second-quarter 2018 earnings of 13 cents per share, lagging the Zacks Consensus Estimate of 19 cents by 31.58%.Zacks RankMurphy Oil currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The Hottest Tech Mega-Trend of AllLast year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >>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 Cabot Oil & Gas Corporation (COG): Free Stock Analysis Report Newfield Exploration Company (NFX): Free Stock Analysis Report Anadarko Petroleum Corporation (APC): Free Stock Analysis Report Murphy Oil Corporation (MUR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research