Murphy USA (NYSE:MUSA) Sets New 12-Month High - Still a Buy?

Key Points

• Shares hit a new 52-week high, trading as high as $609.82 (last at $575.87) on volume of ~369,000 shares, though the stock was noted to be trading down about 4.7% in the report.
• Analysts have recently upgraded MUSA—Wall Street Zen and Zacks moved it to Strong Buy, KeyCorp raised its target to $600 and BofA raised its target to $550—leaving MarketBeat's average rating at "Moderate Buy" with an average target of $503.71.
• Murphy USA reported a strong quarter, beating expectations with EPS $7.28 vs. $5.37 consensus and revenue of $4.82B (up 6.5% YoY), underpinning upbeat analyst revisions.

Shares of Murphy USA Inc. (NYSE:MUSA - Get Free Report) reached a new 52-week high on Thursday . The company traded as high as $609.82 and last traded at $575.8740, with a volume of 369286 shares trading hands. The stock had previously closed at $604.52.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MUSA. Wall Street Zen raised Murphy USA from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 2nd. KeyCorp raised their price objective on Murphy USA from $560.00 to $600.00 and gave the company an "overweight" rating in a research report on Friday, April 24th. Bank of America raised Murphy USA from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $350.00 to $550.00 in a research report on Thursday, April 23rd. JPMorgan Chase & Co. began coverage on Murphy USA in a research note on Thursday, March 26th. They set an "overweight" rating and a $539.00 target price on the stock. Finally, Zacks Research upgraded Murphy USA from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $503.71.

Murphy USA Trading Down 4.7%

The firm has a 50 day simple moving average of $480.50 and a 200 day simple moving average of $426.53. The company has a current ratio of 0.83, a quick ratio of 0.48 and a debt-to-equity ratio of 3.24. The firm has a market capitalization of $10.65 billion, a PE ratio of 19.91, a P/E/G ratio of 2.13 and a beta of 0.36.

Murphy USA (NYSE:MUSA - Get Free Report) last released its quarterly earnings results 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. The firm had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.70 billion. Murphy USA had a return on equity of 91.05% and a net margin of 2.81%.The company's revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the business posted $2.63 EPS. Equities analysts expect that Murphy USA Inc. will post 30.08 earnings per share for the current fiscal year.

Murphy USA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Monday, February 23rd were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, February 23rd. Murphy USA's dividend payout ratio (DPR) is 8.71%.

Insider Transactions at Murphy USA

In other news, Director Robert Madison Murphy sold 41,500 shares of the firm's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $596.96, for a total value of $24,773,840.00. Following the transaction, the director directly owned 342,212 shares in the company, valued at $204,286,875.52. This trade represents a 10.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Renee M. Bacon sold 2,844 shares of the firm's stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $388.61, for a total value of $1,105,206.84. Following the completion of the transaction, the senior vice president owned 3,083 shares in the company, valued at approximately $1,198,084.63. This trade represents a 47.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 48,610 shares of company stock worth $27,574,259. Company insiders own 9.02% of the company's stock.

Hedge Funds Weigh In On Murphy USA

Institutional investors and hedge funds have recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB lifted its position in Murphy USA by 82.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 62 shares of the specialty retailer's stock valued at $25,000 after purchasing an additional 28 shares in the last quarter. Huntington National Bank lifted its position in 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 purchasing an additional 32 shares in the last quarter. Ameriflex Group Inc. purchased a new position in Murphy USA during the third quarter valued at $26,000. EverSource Wealth Advisors LLC lifted its position in Murphy USA by 423.1% during the second 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. Finally, AlphaQuest LLC lifted its position in Murphy USA by 317.6% during the third quarter. AlphaQuest LLC now owns 71 shares of the specialty retailer's stock valued at $28,000 after purchasing an additional 54 shares in the last quarter. 80.81% of the stock is currently owned by hedge funds and other institutional investors.

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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