In September 22, 2023, it was reported that ProShare Advisors LLC reduced its holdings in Murphy USA Inc. (NYSE:MUSA) by 11.2% during the first quarter of the year. According to the company’s filing with the Securities and Exchange Commission, the institutional investor sold 449 shares, resulting in a total ownership of 3,562 shares of the specialty retailer’s stock. At the time of the filing, ProShare Advisors LLC estimated the value of its holdings in Murphy USA to be approximately $919,000.
Murphy USA, a leading specialty retailer, had recently released its quarterly earnings data on August 2nd. The company announced earnings per share (EPS) of $6.02 for the quarter, which fell short of analysts’ consensus estimates by ($0.07). Despite this slight miss, Murphy USA still boasted a net profit margin of 2.59% and a return on equity of 80.20%. The firm reported revenue amounting to $5.59 billion for the quarter, slightly lower than analyst projections of $5.61 billion. Equities analysts anticipate that Murphy USA Inc. will achieve an EPS figure of 21.38 for the current fiscal year.
Various equities analysts have provided their opinions on Murphy USA’s stock performance as well. Stephens reiterated an “overweight” rating and set a price objective of $370.00 per share in a research report published on August 3rd. Another analyst at StockNews.com upgraded their rating on Murphy USA from “hold” to “buy.” Meanwhile, Royal Bank of Canada lowered…
