California State Teachers Retirement System Buys 3,545 Shares of Murphy USA Inc. $MUSA

Key Points

• California State Teachers Retirement System increased its Murphy USA stake by 20.5% in the first quarter, purchasing 3,545 shares to own 20,820 shares valued at approximately $10.3 million. Institutional investors collectively own 80.81% of the company.
• Murphy USA shares opened at $592.12, near the upper end of their 52-week range of $349.83 to $636.04. Analysts maintain a “Moderate Buy” consensus, with an average price target of $596.44 and targets as high as $710.
• The company raised its quarterly dividend from $0.63 to $0.64 per share, equivalent to an annualized dividend of $2.56 and a 0.4% yield. Meanwhile, insiders sold 4,567 shares worth roughly $2.5 million over the past three months.

California State Teachers Retirement System raised its stake in shares of Murphy USA Inc. (NYSE:MUSA - Free Report) by 20.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,820 shares of the specialty retailer's stock after purchasing an additional 3,545 shares during the quarter. California State Teachers Retirement System owned approximately 0.11% of Murphy USA worth $10,284,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in shares of Murphy USA by 2.5% in the 1st quarter. Royal Bank of Canada now owns 12,797 shares of the specialty retailer's stock worth $6,322,000 after purchasing an additional 308 shares during the period. Recurrent Investment Advisors LLC increased its position in shares of 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. Encompass Capital Advisors LLC purchased a new position in shares of Murphy USA during the first quarter valued at about $44,457,000. Quantinno Capital Management LP raised its stake in Murphy USA by 4.5% in the first quarter. Quantinno Capital Management LP now owns 12,897 shares of the specialty retailer's stock worth $6,371,000 after buying an additional 559 shares in the last quarter. Finally, SummitTX Capital L.P. bought a new position in Murphy USA in the first quarter worth about $1,955,000. 80.81% of the stock is currently owned by institutional investors.

Murphy USA Stock Down 2.6%

Shares of Murphy USA stock opened at $592.12 on Tuesday. The company has a 50-day simple moving average of $572.94 and a two-hundred day simple moving average of $507.04. The stock has a market capitalization of $10.94 billion, a PE ratio of 20.47, a price-to-earnings-growth ratio of 1.96 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 has a debt-to-equity ratio of 3.24, a quick ratio of 0.48 and a current ratio of 0.83.

Murphy USA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, May 18th. This is an increase from Murphy USA's previous quarterly dividend of $0.63. Murphy USA's dividend payout ratio (DPR) is presently 8.85%.

Insider Buying and Selling at Murphy USA

In other Murphy USA news, SVP Renee M. Bacon sold 1,050 shares of the business's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $529.44, for a total value of $555,912.00. Following the completion of the transaction, the senior vice president owned 3,083 shares of the company's stock, valued at approximately $1,632,263.52. The trade was a 25.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Keith A. Emery sold 517 shares of the company's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $574.49, for a total transaction of $297,011.33. Following the transaction, the senior vice president owned 500 shares in the company, valued at $287,245. This represents a 50.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 4,567 shares of company stock worth $2,494,673. Insiders own 9.02% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Capital One Financial began 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. The Goldman Sachs Group raised Murphy USA from a "sell" rating to a "neutral" rating and increased their target price for the stock from $380.00 to $550.00 in a research report on Monday, July 6th. Wells Fargo & Company lifted their price target on Murphy USA from $520.00 to $570.00 and gave the company an "equal weight" rating in a research report on Monday, July 20th. Jefferies Financial Group raised Murphy USA from a "hold" rating to a "buy" rating and upped their price target for the stock from $550.00 to $625.00 in a research note on Wednesday, July 1st. Finally, Weiss Ratings upgraded Murphy USA from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, June 30th. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $596.44.

About Murphy USA

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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