Corebridge Financial Inc. Has $9.55 Million Stock Holdings in Murphy USA Inc. $MUSA

Key Points

• Corebridge Financial Inc. reduced its position in Murphy USA Inc. by 3.5%, owning 20,321 shares worth $9.55 million as of the latest SEC disclosure.
• Institutional investors currently hold approximately 80.81% of Murphy USA's stock, reflecting significant interest in the company.
• Murphy USA recently announced a quarterly dividend increase to $0.53, up from $0.50, with a yield of 0.6% and a payout ratio of 8.78%.

Corebridge Financial Inc. trimmed its holdings in Murphy USA Inc. (NYSE:MUSA - Free Report) by 3.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,321 shares of the specialty retailer's stock after selling 739 shares during the quarter. Corebridge Financial Inc. owned about 0.10% of Murphy USA worth $9,547,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in MUSA. GAMMA Investing LLC raised its holdings in shares of Murphy USA by 53,469.2% in the first quarter. GAMMA Investing LLC now owns 553,906 shares of the specialty retailer's stock valued at $260,231,000 after buying an additional 552,872 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Murphy USA by 94.0% in the first quarter. JPMorgan Chase & Co. now owns 371,667 shares of the specialty retailer's stock valued at $174,613,000 after buying an additional 180,055 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Murphy USA by 61.5% in the first quarter. Victory Capital Management Inc. now owns 252,575 shares of the specialty retailer's stock valued at $118,662,000 after buying an additional 96,200 shares during the last quarter. Nuveen LLC bought a new position in shares of Murphy USA in the first quarter valued at about $30,968,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Murphy USA by 21.1% in the first quarter. Dimensional Fund Advisors LP now owns 268,373 shares of the specialty retailer's stock valued at $126,065,000 after buying an additional 46,677 shares during the last quarter. 80.81% of the stock is owned by institutional investors.

Insider Activity

In other news, COO Malynda K. West sold 1,859 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $386.22, for a total transaction of $717,982.98. Following the completion of the transaction, the chief operating officer directly owned 117,389 shares of the company's stock, valued at $45,337,979.58. This represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Madison Murphy acquired 5,000 shares of Murphy USA stock in a transaction dated Tuesday, August 5th. The shares were purchased at an average cost of $367.01 per share, with a total value of $1,835,050.00. Following the completion of the transaction, the director directly owned 389,172 shares of the company's stock, valued at $142,830,015.72. This trade represents a 1.30% increase in their ownership of the stock. The disclosure for this purchase can be found here. 9.04% of the stock is owned by corporate insiders.

Murphy USA Trading Up 0.5%

NYSE MUSA traded up $1.94 on Friday, reaching $376.32. The company had a trading volume of 219,027 shares, compared to its average volume of 318,278. The stock's 50 day moving average is $401.85 and its 200-day moving average is $439.69. The stock has a market cap of $7.26 billion, a price-to-earnings ratio of 15.58 and a beta of 0.42. The company has a quick ratio of 0.39, a current ratio of 0.80 and a debt-to-equity ratio of 3.20. Murphy USA Inc. has a 52 week low of $345.23 and a 52 week high of $561.08.

Murphy USA (NYSE:MUSA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The specialty retailer reported $7.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.82 by $0.54. Murphy USA had a return on equity of 64.63% and a net margin of 2.52%.The company had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same period in the prior year, the company earned $6.92 earnings per share. The company's revenue for the quarter was down 8.2% compared to the same quarter last year. Equities analysts predict that Murphy USA Inc. will post 26.45 earnings per share for the current year.

Murphy USA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Monday, August 25th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.6%. This is an increase from Murphy USA's previous quarterly dividend of $0.50. The ex-dividend date is Monday, August 25th. Murphy USA's dividend payout ratio is currently 8.78%.

Analyst Ratings Changes

MUSA has been the subject of a number of recent research reports. Jefferies Financial Group downgraded Murphy USA from a "buy" rating to a "hold" rating and set a $350.00 target price for the company. in a research report on Friday, August 1st. Wells Fargo & Company dropped their target price on Murphy USA from $520.00 to $440.00 and set an "overweight" rating for the company in a research report on Friday, August 1st. Wall Street Zen downgraded Murphy USA from a "buy" rating to a "hold" rating in a research report on Friday, May 9th. KeyCorp dropped their target price on Murphy USA from $500.00 to $480.00 and set an "overweight" rating for the company in a research report on Friday, July 25th. Finally, Zacks Research upgraded Murphy USA from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Murphy USA has a consensus rating of "Moderate Buy" and a consensus price target of $476.29.

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.