Ontario Teachers Pension Plan Board, a Canadian institutional investor, has increased its ownership stake in Murphy USA Inc. The pension board acquired an additional 1,197 shares during the first quarter of this year, ultimately owning 12,962 shares of the specialty retailer’s stock. This represents a 10.2% increase in their stake. As of its most recent filing with the Securities and Exchange Commission (SEC), Ontario Teachers Pension Plan Board’s total holding in Murphy USA was valued at $3,345,000.
Murphy USA recently released its quarterly earnings report for the period ending on August 2nd. The company reported earnings per share of $6.02, slightly below the consensus estimate of $6.09 per share. Despite this slight miss, Murphy USA demonstrated a net margin of 2.59% and a commendable return on equity of 80.20%. Furthermore, the company generated $5.59 billion in revenue during the quarter, only slightly lower than the anticipated revenue of $5.61 billion.
Equity analysts predict that Murphy USA Inc.’s earnings per share for the current fiscal year will amount to approximately 21.2.
While some investors may view Ontario Teachers Pension Plan Board’s growing ownership stake as a positive indicator for future performance, it is important to conduct thorough research and analysis before making any investment decisions.
Please note that this article is based on information available as of September 5th, 2023 and may be subject to change as new data becomes available or market conditions fluctuate.
Disclosure: The author does not hold any positions in Murphy USA Inc., nor does he have any direct or indirect business relationships with Ontario Teachers Pension Plan Board or any other related parties mentioned in this article.
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Updated on: 05/09/2023
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Hedge Funds Modify Holdings of Murphy USA Inc. Stock as Analysts Issue Mixed Ratings
September 5, 2023 – Murphy USA Inc., a specialty retailer, has seen a number of hedge funds modify their holdings of its stock. PNC Financial Services Group Inc., for example, increased its stake in Murphy USA by 0.5% during the fourth quarter. The financial services group now owns 8,269 shares of the specialty retailer’s stock valued at $2,312,000 after purchasing an additional 38 shares.
First Republic Investment Management Inc. also grew its position in Murphy USA by 0.7% during the first quarter, acquiring an additional 42 shares and now owning a total of 6,221 shares worth $1,244,000. Similarly, Schechter Investment Advisors LLC increased its stake in the company by another 0.7% during the fourth quarter with an additional 43 shares valued at $1,640,000.
Furthermore, State of Wyoming raised its holdings by 14.2% with an additional 46 shares worth $103,000 purchased during the last quarter. First Manhattan Co., on the other hand, saw a boost of 7.6%, adding another 50 shares to their portfolio bringing the total to 710 shares valued at $198,000.
It is worth noting that institutional investors and hedge funds collectively own approximately 83.95% of Murphy USA’s stock.
Several analysts have also expressed their opinions on Murphy USA’s performance and prospects. StockNews.com recently issued a “hold” rating for the company following their coverage report published on August 17th. Royal Bank of Canada reduced their target price from $362 to $360 while maintaining a “sector perform” rating for Murphy USA in their August report.
Stephens is among those who have reiterated an “overweight” rating and set a price target of $370 for Murphy USA back in August.
Overall, Bloomberg.com reports that Murphy USA currently holds an average rating of “Hold” and an average target price of $318.60 based on the ratings assigned by research analysts.
In related news, CEO R Andrew Clyde sold a significant amount of Murphy USA stock in August. On August 21st, he sold 18,971 shares for a total transaction value of $5,964,482.40 at an average price of $314.40 per share. Following the sale, Clyde now directly owns 226,473 shares in the company valued at $71,203,111.20.
Additionally, SVP Christopher A. Click also sold 700 shares on August 7th for a total value of $211,617.00 at an average price of $302.31 per share.
The recent transactions by insiders have resulted in a total sale of 70,815 shares within the last 90 days with a cumulative value of $22,153,785. It is notable that insiders currently own around 9.47% of the company’s stock.
On September 4th, NYSE:MUSA closed trading at $318.44 after experiencing a minor increase of $0.80 during mid-day trading. The company saw a trading volume of around 242,200 shares compared to its average volume of 278,248 shares.
Murphy USA Inc., with its current ratio standing at 0.94 and quick ratio at 0.51, continues to navigate the market with a debt-to-equity ratio of 2.38 and market capitalization reaching $6.83 billion.
Investors closely follow developments surrounding Murphy USA as its stock fluctuates within a range between $231.65 and its peak price over the past twelve months which stood at $323.40.
