Murphy USA (NYSE:MUSA) Price Target Raised to $570.00 at Wells Fargo & Company

Key Points

• Wells Fargo raised Murphy USA’s price target from $520 to $570 while keeping an equal weight rating. The new target still implies about a 7.9% downside from the current share price.
• Other analysts have also turned more positive on the stock, including KeyCorp, Goldman Sachs, and Jefferies, and the consensus view now sits at Moderate Buy with an average target price of $585.11.
• Murphy USA recently reported strong quarterly results, with EPS of $7.28 beating estimates and revenue of $4.82 billion topping expectations. The company also saw 6.5% revenue growth year over year.

Murphy USA (NYSE:MUSA - Get Free Report) had its target price hoisted by analysts at Wells Fargo & Company from $520.00 to $570.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an "equal weight" rating on the specialty retailer's stock. Wells Fargo & Company's price target points to a potential downside of 7.91% from the company's current price.

Several other equities research analysts have also recently weighed in on MUSA. KeyCorp increased their price objective on shares of Murphy USA from $600.00 to $680.00 and gave the stock an "overweight" rating in a research report on Friday, June 12th. Royal Bank Of Canada lifted their price objective on Murphy USA from $510.00 to $517.00 and gave the stock a "sector perform" rating in a research report on Thursday, April 30th. The Goldman Sachs Group upgraded Murphy USA from a "sell" rating to a "neutral" rating and upped their target price for the company from $380.00 to $550.00 in a research report on Monday, July 6th. Jefferies Financial Group raised Murphy USA from a "hold" rating to a "buy" rating and raised their target price for the stock from $550.00 to $625.00 in a research note on Wednesday, July 1st. Finally, Wall Street Zen upgraded Murphy USA from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 27th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Murphy USA currently has a consensus rating of "Moderate Buy" and an average target price of $585.11.

Murphy USA Price Performance

Shares of NYSE:MUSA opened at $618.94 on Monday. The firm has a market cap of $11.43 billion, a PE ratio of 21.39, a price-to-earnings-growth ratio of 2.00 and a beta of 0.30. Murphy USA has a 52 week low of $345.23 and a 52 week high of $636.04. The firm's fifty day moving average is $562.39 and its 200-day moving average is $492.17. 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 (NYSE:MUSA - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The specialty retailer reported $7.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.37 by $1.91. Murphy USA had a return on equity of 91.05% and a net margin of 2.81%.The company had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period last year, the company earned $2.63 earnings per share. The firm's revenue was up 6.5% compared to the same quarter last year. Sell-side analysts predict that Murphy USA will post 32.58 earnings per share for the current year.

Insiders Place Their Bets

In other Murphy USA news, Director Diane N. Landen sold 3,000 shares of the firm's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $547.25, for a total value of $1,641,750.00. Following the transaction, the director directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Keith A. Emery sold 517 shares of Murphy USA 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 of the company's stock, valued at $287,245. This represents a 50.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 46,225 shares of company stock worth $27,363,392 in the last quarter. Insiders own 9.02% of the company's stock.

Institutional Investors Weigh In On Murphy USA

Institutional investors and hedge funds have recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB increased its holdings in Murphy USA by 82.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 62 shares of the specialty retailer's stock worth $25,000 after purchasing an additional 28 shares in the last quarter. Huntington National Bank boosted its position in shares of Murphy USA by 106.7% during the fourth quarter. Huntington National Bank now owns 62 shares of the specialty retailer's stock valued at $25,000 after buying an additional 32 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Murphy USA by 423.1% during the second quarter. EverSource Wealth Advisors LLC now owns 68 shares of the specialty retailer's stock worth $28,000 after buying an additional 55 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Murphy USA during the fourth quarter worth $29,000. Finally, Root Financial Partners LLC raised its position in Murphy USA by 82.5% in the 1st quarter. Root Financial Partners LLC now owns 73 shares of the specialty retailer's stock valued at $36,000 after buying an additional 33 shares during the last quarter. Institutional investors and hedge funds own 80.81% of the company's stock.

Murphy USA Company Profile

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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