Murphy USA (NYSE:MUSA) Trading Down 6.7% on Disappointing Earnings

Shares of Murphy USA Inc. (NYSE:MUSA) dropped 6.7% during trading on Thursday following a dissappointing earnings announcement. The stock traded as low as $464.15 and last traded at $472.45. Approximately 210,422 shares were traded during mid-day trading, an increase of 5% from the average daily volume of 199,913 shares. The stock had previously closed at $506.24.

The specialty retailer reported $2.63 EPS for the quarter, missing the consensus estimate of $3.87 by ($1.24). The business had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.79 billion. Murphy USA had a net margin of 2.48% and a return on equity of 61.60%. Murphy USA’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the previous year, the company earned $3.12 EPS.

Murphy USA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 12th will be given a dividend of $0.50 per share. This is a boost from Murphy USA’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, May 12th. Murphy USA’s payout ratio is presently 8.26%.

Analyst Ratings Changes

Several research analysts recently weighed in on MUSA shares. Melius assumed coverage on shares of Murphy USA in a report on Tuesday, March 11th. They issued a “buy” rating and a $600.00 target price for the company. StockNews.com upgraded Murphy USA from a “hold” rating to a “buy” rating in a research report on Saturday, April 26th. Stephens raised shares of Murphy USA to a “strong-buy” rating in a research note on Monday, April 7th. Melius Research upgraded Murphy USA to a “strong-buy” rating in a research report on Tuesday, March 11th. Finally, KeyCorp started coverage on Murphy USA in a research note on Friday, April 11th. They issued an “overweight” rating and a $550.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Murphy USA presently has an average rating of “Buy” and an average target price of $539.00.

Insider Activity at Murphy USA

In other Murphy USA news, CMO Renee M. Bacon sold 2,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $469.58, for a total transaction of $939,160.00. Following the sale, the chief marketing officer now directly owns 5,927 shares of the company’s stock, valued at approximately $2,783,200.66. This trade represents a 25.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeanne Linder Phillips sold 797 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $452.31, for a total value of $360,491.07. Following the completion of the transaction, the director now directly owns 2,349 shares of the company’s stock, valued at $1,062,476.19. The trade was a 25.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,594 shares of company stock valued at $1,695,043 over the last 90 days. Insiders own 9.04% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alberta Investment Management Corp grew its position in shares of Murphy USA by 100.7% in the first quarter. Alberta Investment Management Corp now owns 2,208 shares of the specialty retailer’s stock valued at $1,037,000 after purchasing an additional 1,108 shares during the period. US Bancorp DE raised its position in Murphy USA by 0.7% in the first quarter. US Bancorp DE now owns 4,473 shares of the specialty retailer’s stock valued at $2,101,000 after purchasing an additional 29 shares during the period. Bayforest Capital Ltd grew its position in Murphy USA by 103.3% in the 1st quarter. Bayforest Capital Ltd now owns 744 shares of the specialty retailer’s stock valued at $350,000 after acquiring an additional 378 shares in the last quarter. Vestcor Inc boosted its position in Murphy USA by 40.1% in the 1st quarter. Vestcor Inc now owns 2,397 shares of the specialty retailer’s stock valued at $1,126,000 after buying an additional 686 shares during the period. Finally, De Lisle Partners LLP raised its position in Murphy USA by 8.9% in the 1st quarter. De Lisle Partners LLP now owns 42,261 shares of the specialty retailer’s stock valued at $19,876,000 after purchasing an additional 3,455 shares in the last quarter. Hedge funds and other institutional investors own 80.81% of the company’s stock.

Murphy USA Trading Down 12.2 %

The company’s 50-day moving average price is $476.56 and its 200-day moving average price is $494.27. The firm has a market capitalization of $8.79 billion, a PE ratio of 18.36 and a beta of 0.59. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.37 and a current ratio of 0.79.

About Murphy USA

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, as well as operates non-fuel convenience stores. It operates retail gasoline stores principally in the Southeast, Southwest, and Midwest United States.