Murphy USA Inc. $MUSA Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Murphy USA by 10.6%, holding 5,908 shares worth approximately $2.78 million after selling 701 shares in Q1.
• Murphy USA announced a quarterly dividend increase to $0.53 per share, up from $0.50, with the payout scheduled for September 4th.
• Despite reporting strong quarterly earnings of $7.36 EPS—beating estimates—the company's revenue declined by 8.2% year-over-year.

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Murphy USA Inc. (NYSE:MUSA - Free Report) by 10.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,908 shares of the specialty retailer's stock after selling 701 shares during the period. State of New Jersey Common Pension Fund D's holdings in Murphy USA were worth $2,776,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. GW&K Investment Management LLC bought a new position in Murphy USA during the first quarter valued at about $27,000. TCTC Holdings LLC boosted its stake in Murphy USA by 116.7% during the first quarter. TCTC Holdings LLC now owns 65 shares of the specialty retailer's stock valued at $31,000 after buying an additional 35 shares in the last quarter. Golden State Wealth Management LLC bought a new position in Murphy USA during the first quarter valued at about $40,000. Costello Asset Management INC bought a new position in Murphy USA during the first quarter valued at about $47,000. Finally, CX Institutional bought a new position in Murphy USA during the first quarter valued at about $59,000. Institutional investors own 80.81% of the company's stock.

Insider Transactions at Murphy USA

In other news, COO Malynda K. West sold 1,859 shares of the firm'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 sale, the chief operating officer directly owned 117,389 shares of the company's stock, valued at $45,337,979.58. This trade represents a 1.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David C. Haley purchased 1,000 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were purchased at an average cost of $435.58 per share, with a total value of $435,580.00. Following the completion of the purchase, the director directly owned 1,000 shares in the company, valued at approximately $435,580. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 9.04% of the company's stock.

Murphy USA Trading Down 0.4%

NYSE:MUSA opened at $394.5470 on Thursday. 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 1-year low of $345.23 and a 1-year high of $561.08. The firm has a market capitalization of $7.61 billion, a price-to-earnings ratio of 16.34 and a beta of 0.42. The stock has a fifty day simple moving average of $405.53 and a 200 day simple moving average of $445.87.

Murphy USA (NYSE:MUSA - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The specialty retailer reported $7.36 earnings per share for the quarter, beating analysts' consensus estimates of $6.82 by $0.54. Murphy USA had a return on equity of 64.63% and a net margin of 2.52%.The business had revenue of $5.01 billion during the quarter, compared to analyst estimates of $5.17 billion. During the same quarter last year, the company posted $6.92 EPS. Murphy USA's revenue for the quarter was down 8.2% on a year-over-year basis. Sell-side analysts forecast that Murphy USA Inc. will post 26.45 earnings per share for the current year.

Murphy USA Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Monday, August 25th will be paid a dividend of $0.53 per share. This is a boost from Murphy USA's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, August 25th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.5%. Murphy USA's dividend payout ratio (DPR) is 8.28%.

Analyst Ratings Changes

MUSA has been the subject of several research reports. Raymond James Financial cut Murphy USA from an "outperform" rating to a "market perform" rating in a research note on Friday, May 9th. Jefferies Financial Group cut Murphy USA from a "buy" rating to a "hold" rating and set a $350.00 target price for the company. in a research note on Friday, August 1st. Stephens decreased their target price on Murphy USA from $530.00 to $475.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. Wells Fargo & Company decreased their price target 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. Finally, Wall Street Zen lowered Murphy USA from a "buy" rating to a "hold" rating in a research report on Friday, May 9th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price 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.

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