Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Murphy USA Inc. (NYSE:MUSA – Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 30,482 shares of the specialty retailer’s stock, valued at approximately $16,426,000.
Several other institutional investors have also added to or reduced their stakes in MUSA. BlackRock Inc. purchased a new stake in shares of Murphy USA during the second quarter worth about $915,734,000. AQR Capital Management LLC raised its position in shares of Murphy USA by 149.9% in the 4th quarter. AQR Capital Management LLC now owns 507,418 shares of the specialty retailer’s stock valued at $204,753,000 after purchasing an additional 304,354 shares during the last quarter. River Road Asset Management LLC raised its position in shares of Murphy USA by 1.6% in the 4th quarter. River Road Asset Management LLC now owns 506,214 shares of the specialty retailer’s stock valued at $204,267,000 after purchasing an additional 7,973 shares during the last quarter. Morgan Stanley boosted its stake in Murphy USA by 45.6% in the 4th quarter. Morgan Stanley now owns 318,473 shares of the specialty retailer’s stock worth $128,511,000 after purchasing an additional 99,798 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Murphy USA by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 300,758 shares of the specialty retailer’s stock worth $121,365,000 after purchasing an additional 1,930 shares in the last quarter. Institutional investors and hedge funds own 80.81% of the company’s stock.
Insider Activity at Murphy USA
In other news, Director Diane N. Landen sold 3,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $547.25, for a total value of $1,641,750.00. Following the sale, the director directly owned 53,841 shares of the company’s stock, valued at $29,464,487.25. This represents a 5.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rosemary Turner sold 966 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $571.88, for a total transaction of $552,436.08. Following the completion of the sale, the director directly owned 449 shares in the company, valued at $256,774.12. This trade represents a 68.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 9.02% of the company’s stock.
Murphy USA Trading Down 3.9%
Murphy USA (NYSE:MUSA – Get Free Report) last issued its earnings results on Wednesday, August 5th. The specialty retailer reported $11.27 EPS for the quarter, beating analysts’ consensus estimates of $9.95 by $1.32. Murphy USA had a return on equity of 96.01% and a net margin of 2.87%.The firm had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.03 billion. During the same quarter in the prior year, the firm earned $7.36 earnings per share. Murphy USA’s revenue for the quarter was up 36.0% on a year-over-year basis. Equities analysts predict that Murphy USA Inc. will post 33.84 EPS for the current year.
Murphy USA Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Monday, August 24th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, August 24th. This is a positive change from Murphy USA’s previous quarterly dividend of $0.64. Murphy USA’s dividend payout ratio (DPR) is presently 7.92%.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on the stock. KeyCorp boosted their target price on shares of Murphy USA from $600.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Capital One Financial initiated coverage on shares of Murphy USA in a report on Monday, June 22nd. They issued an “overweight” rating and a $710.00 price target for the company. Royal Bank Of Canada reiterated a “sector perform” rating and set a $619.00 price objective on shares of Murphy USA in a research note on Wednesday, July 29th. Bank of America boosted their price objective on shares of Murphy USA from $600.00 to $625.00 and gave the company a “neutral” rating in a report on Friday, July 10th. Finally, Weiss Ratings raised Murphy USA from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Murphy USA has an average rating of “Moderate Buy” and a consensus price target of $606.89.
Get Our Latest Stock Report on MUSA
Murphy USA Profile
Murphy USA is a leading downstream marketer of gasoline, diesel and convenience store products in the United States. Headquartered in El Dorado, Arkansas, the company was originally established as part of Murphy Oil Corporation and was spun off as an independent public entity in 2013. Since its separation, Murphy USA has focused on retail fueling services and convenience offerings designed to deliver value and convenience to consumers.
The company’s primary operations center on two retail formats.
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