Murphy USA (NYSE:MUSA) Sets New 52-Week High on Better-Than-Expected Earnings

Murphy USA Inc. (NYSE:MUSA)’s stock price hit a new 52-week high during trading on Thursday following a better than expected earnings announcement. The company traded as high as $382.04 and last traded at $377.36, with a volume of 74576 shares changing hands. The stock had previously closed at $365.36.

The specialty retailer reported $7.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.08 by $1.61. Murphy USA had a net margin of 2.59% and a return on equity of 80.20%. The company had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.83 billion. During the same period in the prior year, the business earned $9.28 earnings per share. Murphy USA’s quarterly revenue was down 6.4% on a year-over-year basis.

Murphy USA Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, November 6th will be issued a $0.41 dividend. This is a positive change from Murphy USA’s previous quarterly dividend of $0.39. This represents a $1.64 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Friday, November 3rd. Murphy USA’s dividend payout ratio is currently 6.16%.

Wall Street Analysts Forecast Growth

MUSA has been the subject of several research reports. StockNews.com started coverage on shares of Murphy USA in a research report on Thursday, October 5th. They set a “buy” rating for the company. Wells Fargo & Company raised their target price on shares of Murphy USA from $330.00 to $385.00 and gave the company an “overweight” rating in a research report on Monday, September 25th. Stephens reissued an “overweight” rating and issued a $370.00 price objective on shares of Murphy USA in a research report on Thursday, August 3rd. Royal Bank of Canada decreased their price objective on shares of Murphy USA from $362.00 to $360.00 and set a “sector perform” rating for the company in a research report on Thursday, August 3rd. Finally, The Goldman Sachs Group lifted their price objective on shares of Murphy USA from $252.00 to $280.00 and gave the company a “sell” rating in a research report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $340.00.

Insider Transactions at Murphy USA

In other news, CEO R Andrew Clyde sold 32,173 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $311.23, for a total transaction of $10,013,202.79. Following the completion of the sale, the chief executive officer now owns 172,729 shares in the company, valued at approximately $53,758,446.67. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Murphy USA news, CEO R Andrew Clyde sold 32,173 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $311.23, for a total value of $10,013,202.79. Following the transaction, the chief executive officer now directly owns 172,729 shares of the company’s stock, valued at approximately $53,758,446.67. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Christopher A. Click sold 700 shares of Murphy USA stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $302.31, for a total transaction of $211,617.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,815 shares of company stock worth $22,153,785. 9.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MUSA. Pinebridge Investments L.P. raised its holdings in Murphy USA by 136.1% during the second quarter. Pinebridge Investments L.P. now owns 85 shares of the specialty retailer’s stock worth $26,000 after buying an additional 49 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of Murphy USA by 70.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 111 shares of the specialty retailer’s stock worth $35,000 after acquiring an additional 46 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new stake in shares of Murphy USA in the 2nd quarter worth $38,000. Mendota Financial Group LLC bought a new stake in shares of Murphy USA in the 1st quarter worth $50,000. Finally, Fifth Third Bancorp grew its stake in shares of Murphy USA by 34.2% in the 3rd quarter. Fifth Third Bancorp now owns 153 shares of the specialty retailer’s stock worth $52,000 after acquiring an additional 39 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Murphy USA Stock Performance

The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.51 and a current ratio of 0.94. The stock has a market cap of $7.96 billion, a P/E ratio of 14.66 and a beta of 0.75. The company’s 50 day moving average price is $343.59 and its 200-day moving average price is $311.56.

Murphy USA Company Profile

Murphy USA Inc engages in marketing of retail motor fuel products and convenience merchandise. The company operates retail stores under the Murphy USA, Murphy Express, and QuickChek brands. It operates retail gasoline stores principally in the Southeast, Southwest, and Midwest United States. The company was founded in 1996 and is headquartered in El Dorado, Arkansas.