Jefferies Group LLC Reiterates Buy Rating for Murphy USA Inc. (NYSE:MUSA)
Murphy USA Inc. (NYSE:MUSA)‘s stock had its “buy” rating reissued by Jefferies Group LLC in a research note issued on Monday. They currently have a $83.00 target price on the specialty retailer’s stock, up from their prior target price of $77.00. Jefferies Group LLC’s price target points to a potential upside of 13.59% from the stock’s previous close.
Other research analysts have also issued research reports about the company. BidaskClub lowered Murphy USA from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 11th. Zacks Investment Research upgraded Murphy USA from a “strong sell” rating to a “hold” rating and set a $83.00 target price for the company in a research report on Saturday, July 1st. William Blair began coverage on Murphy USA in a research report on Wednesday, July 12th. They set a “market perform” rating for the company. Stephens boosted their target price on Murphy USA from $76.00 to $83.00 and gave the company an “overweight” rating in a research report on Friday, June 30th. Finally, Wells Fargo & Company lowered Murphy USA from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 18th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Murphy USA presently has an average rating of “Hold” and a consensus price target of $83.00.
Shares of Murphy USA (MUSA) traded up 0.26% during midday trading on Monday, reaching $73.26. The company had a trading volume of 71,437 shares. The stock has a 50-day moving average of $69.43 and a 200 day moving average of $67.62. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 21.26 and a beta of 0.67. Murphy USA has a 52 week low of $57.13 and a 52 week high of $80.44.
Murphy USA (NYSE:MUSA) last issued its quarterly earnings data on Monday, May 1st. The specialty retailer reported ($0.08) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.08). Murphy USA had a return on equity of 18.37% and a net margin of 1.10%. The company had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same period in the previous year, the firm posted $2.08 earnings per share. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. On average, analysts anticipate that Murphy USA will post $3.50 earnings per share for the current year.
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In other news, Director James W. Keyes purchased 4,000 shares of the stock in a transaction that occurred on Thursday, May 4th. The stock was purchased at an average price of $65.20 per share, for a total transaction of $260,800.00. Following the completion of the acquisition, the director now owns 9,650 shares of the company’s stock, valued at $629,180. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John P. Corrigan purchased 1,000 shares of the stock in a transaction that occurred on Thursday, May 4th. The stock was purchased at an average price of $65.01 per share, with a total value of $65,010.00. Following the acquisition, the senior vice president now directly owns 2,000 shares of the company’s stock, valued at approximately $130,020. The disclosure for this purchase can be found here. 7.30% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. purchased a new stake in shares of Murphy USA during the fourth quarter worth about $2,002,000. Quadrature Capital Ltd purchased a new stake in shares of Murphy USA during the fourth quarter worth about $211,000. Norges Bank purchased a new stake in shares of Murphy USA during the fourth quarter worth about $19,206,000. King Luther Capital Management Corp raised its stake in shares of Murphy USA by 5.1% in the first quarter. King Luther Capital Management Corp now owns 22,164 shares of the specialty retailer’s stock worth $1,627,000 after buying an additional 1,080 shares during the last quarter. Finally, Highbridge Capital Management LLC purchased a new stake in shares of Murphy USA during the fourth quarter worth about $2,686,000. Hedge funds and other institutional investors own 98.25% of the company’s stock.
About Murphy USA
Murphy USA Inc is engaged in the marketing of retail motor fuel products and merchandise through a chain of retail stores. The Company operates through the Marketing segment. The Marketing segment includes its retail marketing sites and product supply, and wholesale assets. As of December 31, 2016, its retail stores were located in 26 states, primarily in the Southwest, Southeast and Midwest the United States.
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