Connor Clark & Lunn Investment Management Ltd. Invests $16.43 Million in Murphy USA Inc. $MUSA

Key Points

• Connor Clark & Lunn Investment Management acquired 30,482 Murphy USA shares worth approximately $16.43 million, representing about 0.17% of the company. Institutional investors collectively own 80.81% of MUSA.
• Murphy USA reported quarterly earnings of $11.27 per share, beating estimates of $9.95, while revenue rose 36% year over year to $6.81 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $606.89.
• The company raised its quarterly dividend from $0.64 to $0.65 per share, equivalent to $2.60 annually and a 0.5% yield. Shares opened at $545.68, down 3.9%, with directors recently selling shares.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Murphy USA Inc. (NYSE:MUSA - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 30,482 shares of the specialty retailer's stock, valued at approximately $16,426,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.17% of Murphy USA as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. NewEdge Advisors LLC increased its holdings in Murphy USA by 10.2% during the 1st quarter. NewEdge Advisors LLC now owns 1,685 shares of the specialty retailer's stock worth $792,000 after purchasing an additional 156 shares during the period. EverSource Wealth Advisors LLC raised its position in Murphy USA by 423.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 68 shares of the specialty retailer's stock valued at $28,000 after purchasing an additional 55 shares in the last quarter. Cresset Asset Management LLC purchased a new stake in shares of Murphy USA in the 2nd quarter worth $603,000. Cerity Partners LLC purchased a new stake in shares of Murphy USA in the 2nd quarter worth $596,000. Finally, Qube Research & Technologies Ltd bought a new position in shares of Murphy USA during the 2nd quarter worth $227,000. Hedge funds and other institutional investors own 80.81% of the company's stock.

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 business's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $547.25, for a total transaction of $1,641,750.00. Following the transaction, the director owned 53,841 shares of the company's stock, valued at approximately $29,464,487.25. This trade represents 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.

Murphy USA Trading Down 3.9%

Shares of NYSE:MUSA opened at $545.68 on Wednesday. Murphy USA Inc. has a 12-month low of $349.83 and a 12-month high of $636.04. The business's fifty day simple moving average is $575.60 and its 200-day simple moving average is $521.55. The company has a market capitalization of $10.08 billion, a PE ratio of 16.62, a P/E/G ratio of 1.67 and a beta of 0.28. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 2.77.

Murphy USA (NYSE:MUSA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The specialty retailer reported $11.27 earnings per share 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 period in the prior year, the business posted $7.36 EPS. The firm's quarterly revenue was up 36.0% on a year-over-year basis. As a group, equities research analysts predict that Murphy USA Inc. will post 33.84 earnings per share for the current fiscal year.

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%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Zacks Research downgraded Murphy USA from a "strong-buy" rating to a "hold" rating in a report on Monday, June 22nd. KeyCorp increased their target price on shares of Murphy USA from $600.00 to $680.00 and gave the stock an "overweight" rating in a report on Friday, June 12th. Wells Fargo & Company raised their target price on shares of Murphy USA from $520.00 to $570.00 and gave the company an "equal weight" rating in a research report on Monday, July 20th. Weiss Ratings upgraded shares of Murphy USA from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. Finally, Bank of America upped their price target on shares of Murphy USA from $600.00 to $625.00 and gave the stock a "neutral" rating in a research report on Friday, July 10th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $606.89.

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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