Murphy USA Inc. $MUSA Shares Sold by Narwhal Capital Management

Key Points

• Narwhal Capital Management reduced its stake in Murphy USA Inc. by 38.5%, leaving them with 8,244 shares worth approximately $3.35 million.
• Major institutional investors, including JPMorgan Chase and The Manufacturers Life Insurance Company, significantly increased their holdings in Murphy USA, with the former expanding its stake by 94.0%.
• Murphy USA reported quarterly earnings that surpassed analysts' expectations, with earnings per share of $7.36, despite a 8.2% year-over-year revenue decline.

Narwhal Capital Management trimmed its position in Murphy USA Inc. (NYSE:MUSA - Free Report) by 38.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,244 shares of the specialty retailer's stock after selling 5,169 shares during the period. Narwhal Capital Management's holdings in Murphy USA were worth $3,354,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Murphy USA by 5.4% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 442,130 shares of the specialty retailer's stock valued at $207,717,000 after buying an additional 22,733 shares in the last quarter. JPMorgan Chase & Co. increased 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 in the last quarter. Dimensional Fund Advisors LP increased 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 in the last quarter. Victory Capital Management Inc. increased 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 in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Murphy USA by 902.2% in the first quarter. The Manufacturers Life Insurance Company now owns 153,202 shares of the specialty retailer's stock valued at $71,976,000 after buying an additional 137,915 shares in the last quarter. 80.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MUSA. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Murphy USA in a report on Wednesday. Jefferies Financial Group cut Murphy USA from a "buy" rating to a "hold" rating and set a $350.00 price target on the stock. in a report on Friday, August 1st. Wells Fargo & Company dropped their price target on Murphy USA from $520.00 to $440.00 and set an "overweight" rating on the stock in a report on Friday, August 1st. KeyCorp reissued an "overweight" rating and set a $480.00 target price on shares of Murphy USA in a research note on Friday, September 5th. Finally, Zacks Research downgraded shares of Murphy USA from a "hold" rating to a "strong sell" rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Murphy USA currently has an average rating of "Moderate Buy" and a consensus price target of $483.17.

Insiders Place Their Bets

In related news, Director Robert Madison Murphy purchased 5,000 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were acquired at an average cost of $367.01 per share, with a total value of $1,835,050.00. Following the completion of the purchase, the director owned 389,172 shares of the company's stock, valued at $142,830,015.72. The trade was a 1.30% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Malynda K. West sold 1,859 shares of the company's stock in a transaction on 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 in the company, valued at $45,337,979.58. This trade represents a 1.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.04% of the company's stock.

Murphy USA Price Performance

Shares of NYSE:MUSA opened at $374.13 on Thursday. The company's fifty day moving average is $383.24 and its two-hundred day moving average is $425.45. 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 12-month low of $345.23 and a 12-month high of $561.08. The company has a market cap of $7.22 billion, a P/E ratio of 15.49 and a beta of 0.42.

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

Murphy USA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Monday, August 25th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.6%. This is a boost from Murphy USA's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, August 25th. Murphy USA's dividend payout ratio (DPR) is currently 8.78%.

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.

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