Grimes & Company Inc. decreased its stake in Murphy USA Inc. (NYSE:MUSA) by 17.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,774 shares of the company’s stock after selling 585 shares during the period. Grimes & Company Inc.’s holdings in Murphy USA were worth $206,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. First Manhattan Co. boosted its position in Murphy USA by 5.2% in the second quarter. First Manhattan Co. now owns 2,010 shares of the company’s stock valued at $149,000 after buying an additional 100 shares in the last quarter. LS Investment Advisors LLC boosted its stake in Murphy USA by 55.9% in the second quarter. LS Investment Advisors LLC now owns 2,268 shares of the company’s stock worth $168,000 after buying an additional 813 shares during the period. Raymond James Trust N.A. bought a new stake in Murphy USA during the second quarter worth approximately $200,000. IFP Advisors Inc boosted its stake in Murphy USA by 16.7% in the first quarter. IFP Advisors Inc now owns 3,516 shares of the company’s stock worth $216,000 after buying an additional 503 shares during the period. Finally, M&T Bank Corp boosted its stake in Murphy USA by 12.1% in the first quarter. M&T Bank Corp now owns 3,857 shares of the company’s stock worth $238,000 after buying an additional 415 shares during the period. 77.70% of the stock is currently owned by hedge funds and other institutional investors.
Murphy USA Inc. (NYSE:MUSA) traded up 1.12% during midday trading on Thursday, hitting $72.33. 192,415 shares of the company were exchanged. The stock has a 50 day moving average of $74.33 and a 200-day moving average of $69.05. Murphy USA Inc. has a 1-year low of $51.68 and a 1-year high of $80.44. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 11.57 and a beta of 0.79.
Murphy USA (NYSE:MUSA) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.18. Murphy USA had a net margin of 2.20% and a return on equity of 22.06%. The company had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the previous year, the company earned $0.59 earnings per share. Murphy USA’s quarterly revenue was down 13.3% on a year-over-year basis. Equities analysts expect that Murphy USA Inc. will post $4.73 earnings per share for the current year.
MUSA has been the topic of a number of research reports. Wells Fargo & Co. reaffirmed a “buy” rating and issued a $81.00 price target on shares of Murphy USA in a report on Tuesday. Jefferies Group lifted their price target on shares of Murphy USA from $76.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, June 9th. JPMorgan Chase & Co. cut shares of Murphy USA from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $75.00 to $85.00 in a report on Monday, August 1st. Finally, Stephens cut shares of Murphy USA from an “overweight” rating to an “equal weight” rating in a report on Tuesday, July 12th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $82.75.
In other Murphy USA news, CFO Malynda K. West sold 9,463 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $77.54, for a total value of $733,761.02. Following the sale, the chief financial officer now owns 55,045 shares in the company, valued at $4,268,189.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP John A. Moore sold 5,290 shares of the company’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $78.05, for a total transaction of $412,884.50. Following the completion of the sale, the senior vice president now owns 21,590 shares in the company, valued at approximately $1,685,099.50. The disclosure for this sale can be found here. Corporate insiders own 6.98% of the company’s stock.
About Murphy USA
Murphy USA Inc (Murphy USA) is engaged in the marketing of retail motor fuel products and convenience 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. Its retail stores are located in over 20 states, in the Southwest, Southeast and Midwest United States.
Want to see what other hedge funds are holding MUSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Murphy USA Inc. (NYSE:MUSA).
Receive News & Ratings for Murphy USA Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Murphy USA Inc. and related companies with MarketBeat.com's FREE daily email newsletter.