Murphy USA (NYSE:MUSA) Shares Gap Down on Disappointing Earnings

Shares of Murphy USA Inc. (NYSE:MUSA) gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $411.80, but opened at $385.00. Murphy USA shares last traded at $397.33, with a volume of 90,981 shares traded.

The specialty retailer reported $3.12 EPS for the quarter, missing the consensus estimate of $4.09 by ($0.97). The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.89 billion. Murphy USA had a net margin of 2.43% and a return on equity of 63.93%. The business’s revenue was down 4.6% compared to the same quarter last year. During the same period last year, the company earned $4.80 EPS.

Murphy USA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Monday, February 26th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, February 23rd. This is a positive change from Murphy USA’s previous quarterly dividend of $0.41. This represents a $1.68 dividend on an annualized basis and a yield of 0.43%. Murphy USA’s payout ratio is 7.05%.

Wall Street Analysts Forecast Growth

MUSA has been the subject of several recent research reports. Royal Bank of Canada boosted their price target on shares of Murphy USA from $382.00 to $408.00 and gave the company a “sector perform” rating in a report on Thursday, February 8th. Wells Fargo & Company raised their price objective on Murphy USA from $440.00 to $460.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Finally, Stephens reiterated an “overweight” rating and issued a $470.00 target price on shares of Murphy USA in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Murphy USA presently has an average rating of “Moderate Buy” and a consensus target price of $408.60.

Insider Buying and Selling

In other news, SVP Christopher A. Click sold 664 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $415.55, for a total transaction of $275,925.20. Following the sale, the senior vice president now directly owns 2,413 shares of the company’s stock, valued at $1,002,722.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Jeanne Linder Phillips sold 1,525 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $411.42, for a total value of $627,415.50. Following the sale, the director now owns 2,670 shares in the company, valued at $1,098,491.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Christopher A. Click sold 664 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $415.55, for a total transaction of $275,925.20. Following the completion of the sale, the senior vice president now directly owns 2,413 shares in the company, valued at $1,002,722.15. The disclosure for this sale can be found here. Insiders sold 10,440 shares of company stock worth $4,244,582 in the last three months. Corporate insiders own 9.04% of the company’s stock.

Hedge Funds Weigh In On Murphy USA

Institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC lifted its holdings in Murphy USA by 35,556.0% in the fourth quarter. International Assets Investment Management LLC now owns 269,916 shares of the specialty retailer’s stock valued at $96,241,000 after acquiring an additional 269,159 shares during the period. Norges Bank purchased a new stake in Murphy USA during the fourth quarter worth $81,560,000. Lord Abbett & CO. LLC acquired a new stake in Murphy USA during the third quarter valued at $49,209,000. FMR LLC increased its holdings in Murphy USA by 15.0% in the third quarter. FMR LLC now owns 1,080,410 shares of the specialty retailer’s stock valued at $369,208,000 after buying an additional 140,879 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Murphy USA in the third quarter worth about $32,125,000. Institutional investors and hedge funds own 80.81% of the company’s stock.

Murphy USA Stock Performance

The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.56 and a current ratio of 0.95. The firm has a market capitalization of $8.17 billion, a PE ratio of 16.47 and a beta of 0.77. The firm’s 50 day moving average price is $414.96 and its 200-day moving average price is $384.86.

Murphy USA Company Profile

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.