Elevation Point Wealth Partners LLC acquired a new position in shares of Murphy USA Inc. (NYSE:MUSA – Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 987 shares of the specialty retailer’s stock, valued at approximately $532,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of MUSA. Huntington National Bank grew its holdings in shares of Murphy USA by 106.7% in the fourth quarter. Huntington National Bank now owns 62 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 32 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Murphy USA by 423.1% in the second quarter. EverSource Wealth Advisors LLC now owns 68 shares of the specialty retailer’s stock worth $28,000 after buying an additional 55 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Murphy USA during the 4th quarter worth about $33,000. Root Financial Partners LLC boosted its holdings in shares of Murphy USA by 82.5% in the first quarter. Root Financial Partners LLC now owns 73 shares of the specialty retailer’s stock valued at $36,000 after purchasing an additional 33 shares during the period. Finally, Keating Financial Advisory Services Inc. purchased a new position in Murphy USA during the 2nd quarter worth $37,000. 80.81% of the stock is currently owned by institutional investors.
Murphy USA Trading Down 3.9%
Shares of NYSE MUSA opened at $545.68 on Wednesday. Murphy USA Inc. has a 1-year low of $349.83 and a 1-year high of $636.04. The business has a fifty day moving average price of $575.60 and a 200 day moving average price of $521.55. The stock has a market capitalization of $10.08 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 1.67 and a beta of 0.28. The company has a debt-to-equity ratio of 2.77, a current ratio of 0.92 and a quick ratio of 0.54.
Murphy USA Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Monday, August 24th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, August 24th. This is an increase from Murphy USA’s previous quarterly dividend of $0.64. Murphy USA’s payout ratio is presently 7.92%.
Insider Buying and Selling
In related news, Director Rosemary Turner sold 966 shares of the business’s stock in a transaction that occurred 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 transaction, the director owned 449 shares in the company, valued at $256,774.12. The trade was a 68.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Diane N. Landen sold 3,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $547.25, for a total transaction 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. The trade was a 5.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 9.02% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on MUSA shares. KeyCorp lifted their price objective on Murphy USA from $600.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Wall Street Zen raised shares of Murphy USA from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 27th. The Goldman Sachs Group upgraded shares of Murphy USA from a “sell” rating to a “neutral” rating and boosted their price target for the company from $380.00 to $550.00 in a report on Monday, July 6th. JPMorgan Chase & Co. lowered their price target on shares of Murphy USA from $655.00 to $633.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. Finally, Capital One Financial started coverage on shares of Murphy USA in a research note on Monday, June 22nd. They set an “overweight” rating and a $710.00 price objective on the stock. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Murphy USA currently has an average rating of “Moderate Buy” and a consensus target price of $606.89.
View Our Latest Stock Analysis 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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