Murphy USA Inc. to Post Q2 2024 Earnings of $6.77 Per Share, Zacks Research Forecasts (NYSE:MUSA)

Murphy USA Inc. (NYSE:MUSA) – Zacks Research cut their Q2 2024 earnings per share (EPS) estimates for Murphy USA in a research note issued to investors on Thursday, April 25th. Zacks Research analyst N. Choudhury now forecasts that the specialty retailer will post earnings of $6.77 per share for the quarter, down from their previous estimate of $6.78. The consensus estimate for Murphy USA’s current full-year earnings is $26.29 per share. Zacks Research also issued estimates for Murphy USA’s Q3 2024 earnings at $6.81 EPS, Q3 2025 earnings at $5.20 EPS and Q1 2026 earnings at $8.72 EPS.

Murphy USA (NYSE:MUSA) last issued its earnings results on Wednesday, February 7th. The specialty retailer reported $7.00 earnings per share for the quarter, topping analysts’ consensus estimates of $5.79 by $1.21. Murphy USA had a return on equity of 70.92% and a net margin of 2.59%. The company had revenue of $5.07 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period in the prior year, the firm earned $5.21 earnings per share. Murphy USA’s revenue for the quarter was down 5.5% on a year-over-year basis.

A number of other equities analysts have also weighed in on the company. Jefferies Financial Group raised Murphy USA from a “hold” rating to a “buy” rating and upped their target price for the stock from $375.00 to $425.00 in a research report on Thursday, January 4th. Stephens reiterated an “overweight” rating and set a $470.00 price target on shares of Murphy USA in a report on Wednesday, April 10th. Wells Fargo & Company upped their price target on Murphy USA from $440.00 to $460.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Finally, Royal Bank of Canada upped their price target on Murphy USA from $382.00 to $408.00 and gave the stock a “sector perform” rating in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Murphy USA has an average rating of “Moderate Buy” and an average price target of $408.60.

Murphy USA Price Performance

Shares of NYSE:MUSA opened at $421.34 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.95 and a debt-to-equity ratio of 2.15. Murphy USA has a twelve month low of $267.93 and a twelve month high of $430.83. The stock’s 50 day moving average is $414.58 and its 200-day moving average is $383.57. The firm has a market capitalization of $8.77 billion, a price-to-earnings ratio of 16.52 and a beta of 0.76.

Murphy USA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Monday, February 26th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Friday, February 23rd. This is an increase from Murphy USA’s previous quarterly dividend of $0.41. Murphy USA’s dividend payout ratio is 6.59%.

Insider Buying and Selling at Murphy USA

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC lifted its holdings in Murphy USA by 35,556.0% during the 4th quarter. International Assets Investment Management LLC now owns 269,916 shares of the specialty retailer’s stock worth $96,241,000 after purchasing an additional 269,159 shares in the last quarter. Norges Bank purchased a new stake in Murphy USA during the 4th quarter worth about $81,560,000. Lord Abbett & CO. LLC purchased a new stake in Murphy USA during the 3rd quarter worth about $49,209,000. FMR LLC lifted its holdings in Murphy USA by 15.0% during the 3rd quarter. FMR LLC now owns 1,080,410 shares of the specialty retailer’s stock worth $369,208,000 after purchasing an additional 140,879 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in Murphy USA during the 3rd quarter worth about $32,125,000. Hedge funds and other institutional investors own 80.81% of the company’s stock.

About Murphy USA

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.