Bank of America Corp DE Has $41.33 Million Position in Murphy USA Inc. $MUSA

Key Points

• Bank of America cut its Murphy USA stake by 41.2% in the first quarter, selling 58,686 shares and retaining 83,671 shares worth approximately $41.33 million. Institutional investors collectively own 80.81% of the company.
• Murphy USA reported quarterly EPS of $11.27, beating expectations of $9.95, while revenue rose 36% year over year to $6.81 billion. Shares opened at $563.88, up 3.1%.
• Analysts maintain a generally favorable view, with a consensus “Moderate Buy” rating and an average price target of $606.89; targets range from $550 to $710.

Bank of America Corp DE trimmed its position in shares of Murphy USA Inc. (NYSE:MUSA - Free Report) by 41.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,671 shares of the specialty retailer's stock after selling 58,686 shares during the quarter. Bank of America Corp DE owned 0.45% of Murphy USA worth $41,331,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. WINTON GROUP Ltd bought a new position in Murphy USA in the 4th quarter valued at $6,874,000. Evergreen Wealth Partners LLC bought a new position in Murphy USA in the 4th quarter valued at $1,333,000. Recurrent Investment Advisors LLC boosted its stake in Murphy USA by 23.2% during the first quarter. Recurrent Investment Advisors LLC now owns 146,119 shares of the specialty retailer's stock valued at $71,986,000 after buying an additional 27,513 shares during the period. Millennium Capital Advisors LLC purchased a new position in Murphy USA in the 4th quarter worth approximately $1,029,000. Finally, VELA Investment Management LLC lifted its stake in Murphy USA by 45.4% during the fourth quarter. VELA Investment Management LLC now owns 9,765 shares of the specialty retailer's stock worth $3,940,000 after purchasing an additional 3,051 shares during the last quarter. 80.81% of the stock is owned by hedge funds and other institutional investors.

Murphy USA Stock Up 3.1%

Shares of MUSA stock opened at $563.88 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 2.77. The stock has a market cap of $10.41 billion, a P/E ratio of 17.17, a PEG ratio of 1.61 and a beta of 0.28. Murphy USA Inc. has a 52 week low of $349.83 and a 52 week high of $636.04. The company's fifty day simple moving average is $577.89 and its two-hundred day simple moving average is $513.65.

Murphy USA (NYSE:MUSA - Get Free Report) last announced its earnings results on Wednesday, August 5th. The specialty retailer reported $11.27 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $6.03 billion. During the same quarter in the previous year, the business earned $7.36 EPS. The company's quarterly revenue was up 36.0% on a year-over-year basis. Analysts predict that Murphy USA Inc. will post 33.84 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MUSA shares. Bank of America increased their target price on Murphy USA from $600.00 to $625.00 and gave the company a "neutral" rating in a report on Friday, July 10th. Weiss Ratings raised Murphy USA from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday. The Goldman Sachs Group raised shares of Murphy USA from a "sell" rating to a "neutral" rating and lifted their price target for the company from $380.00 to $550.00 in a research report on Monday, July 6th. Zacks Research downgraded shares of Murphy USA from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 22nd. Finally, Capital One Financial started coverage on Murphy USA in a research report on Monday, June 22nd. They set an "overweight" rating and a $710.00 price objective on the stock. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $606.89.

Insider Activity

In related news, SVP Renee M. Bacon sold 1,050 shares of the company's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $529.44, for a total transaction of $555,912.00. Following the completion of the sale, the senior vice president owned 3,083 shares of the company's stock, valued at approximately $1,632,263.52. This represents a 25.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Diane N. Landen sold 3,000 shares of the business's stock in a transaction dated 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 transaction, the director directly owned 53,841 shares in the company, valued at approximately $29,464,487.25. The trade was a 5.28% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 9.02% of the company's stock.

Murphy USA Company 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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