Zacks Research Analysts Raise Earnings Estimates for Murphy USA Inc. (NYSE:MUSA)

Murphy USA Inc. (NYSE:MUSA – Get Rating) – Equities research analysts at Zacks Research increased their Q2 2023 EPS estimates for Murphy USA in a research note issued to investors on Tuesday, May 23rd. Zacks Research analyst N. Choudhury now forecasts that the specialty retailer will post earnings per share of $5.26 for the quarter, up from their previous forecast of $4.93. The consensus estimate for Murphy USA’s current full-year earnings is $19.20 per share. Zacks Research also issued estimates for Murphy USA’s Q3 2023 earnings at $5.07 EPS, FY2023 earnings at $18.72 EPS, Q3 2024 earnings at $6.55 EPS, Q4 2024 earnings at $4.13 EPS and FY2025 earnings at $19.87 EPS.

Murphy USA (NYSE:MUSA – Get Rating) last released its quarterly earnings results on Tuesday, May 2nd. The specialty retailer reported $4.80 earnings per share for the quarter, beating analysts’ consensus estimates of $4.18 by $0.62. Murphy USA had a net margin of 2.68% and a return on equity of 86.87%. The company had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.95 billion. During the same period in the previous year, the business earned $6.08 earnings per share. The firm’s quarterly revenue was down .8% on a year-over-year basis.

Other analysts have also recently issued research reports about the stock. Raymond James decreased their target price on shares of Murphy USA from $335.00 to $305.00 and set an “outperform” rating on the stock in a research note on Friday, February 3rd. Wells Fargo & Company boosted their target price on shares of Murphy USA from $325.00 to $330.00 in a research note on Thursday, May 4th. Finally, StockNews.com raised shares of Murphy USA from a “hold” rating to a “buy” rating in a research note on Friday, May 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $315.60.

Murphy USA Stock Up 2.1 %

Shares of MUSA opened at $285.88 on Thursday. Murphy USA has a one year low of $217.39 and a one year high of $323.00. The company has a market cap of $6.23 billion, a P/E ratio of 10.66 and a beta of 0.80. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.92 and a quick ratio of 0.53. The firm has a 50 day simple moving average of $268.37 and a two-hundred day simple moving average of $272.45.

Hedge Funds Weigh In On Murphy USA

Large investors have recently added to or reduced their stakes in the business. Trexquant Investment LP lifted its position in Murphy USA by 8.7% in the 3rd quarter. Trexquant Investment LP now owns 16,902 shares of the specialty retailer’s stock valued at $4,647,000 after acquiring an additional 1,357 shares in the last quarter. Beacon Harbor Wealth Advisors Inc. bought a new position in shares of Murphy USA during the 4th quarter worth approximately $4,152,000. Principal Financial Group Inc. lifted its position in shares of Murphy USA by 3.0% during the 4th quarter. Principal Financial Group Inc. now owns 87,085 shares of the specialty retailer’s stock worth $24,344,000 after buying an additional 2,574 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of Murphy USA by 187.8% during the 3rd quarter. California Public Employees Retirement System now owns 49,452 shares of the specialty retailer’s stock worth $13,595,000 after purchasing an additional 32,267 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its stake in shares of Murphy USA by 6.7% during the 3rd quarter. Nuveen Asset Management LLC now owns 126,024 shares of the specialty retailer’s stock worth $34,646,000 after purchasing an additional 7,936 shares during the last quarter. Institutional investors own 85.30% of the company’s stock.

Insiders Place Their Bets

In other Murphy USA news, Director Jeanne Linder Phillips sold 550 shares of the stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $283.97, for a total transaction of $156,183.50. Following the completion of the sale, the director now directly owns 2,874 shares in the company, valued at approximately $816,129.78. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, SVP Robert J. Chumley sold 1,075 shares of the firm’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $277.72, for a total value of $298,549.00. Following the transaction, the senior vice president now owns 6,661 shares of the company’s stock, valued at approximately $1,849,892.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeanne Linder Phillips sold 550 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $283.97, for a total transaction of $156,183.50. Following the completion of the transaction, the director now directly owns 2,874 shares in the company, valued at approximately $816,129.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,628 shares of company stock worth $455,611. Company insiders own 9.04% of the company’s stock.

Murphy USA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Monday, May 15th will be issued a dividend of $0.38 per share. This is an increase from Murphy USA’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Friday, May 12th. Murphy USA’s dividend payout ratio (DPR) is presently 5.67%.

Murphy USA Company Profile

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Murphy USA, Inc engages in marketing motor fuel products and convenience merchandise through retail stores, namely Murphy USA and Murphy Express. It collaborates with Walmart to offer customers discounted and free items based on purchases of qualifying fuel and merchandise. The company was founded in 1996 and is headquartered in El Dorado, AR.