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These Analysts Increase Their Forecasts On Murphy USA After Preliminary Q4 Results

Published 09/02/2024, 18:26
Updated 09/02/2024, 19:40
© Reuters.  These Analysts Increase Their Forecasts On Murphy USA After Preliminary Q4 Results
MUSA
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Benzinga - by Avi Kapoor, Benzinga Staff Writer.

Murphy USA Inc. (NYSE: MUSA) reported preliminary results for its fourth quarter on Wednesday.

Murphy USA posted preliminary fourth-quarter earnings of $7.00 per share, beating analysts’ estimates of $6.25 per share. The company’s quarterly sales came in at $5.07 billion, missing expectations of $5.42 billion, according to data from Benzinga Pro.

"2023 financial results and operational performance are a testament to the strong foundations we have built at Murphy USA over the last decade, successfully executing against our strategy, and widening our advantage in the marketplace" said President and CEO Andrew Clyde. "Structural resilience in fuel margins coupled with high volumes generated over $1.5B in fuel contribution in 2023. This performance in a less volatile environment increases our confidence in the longevity of elevated fuel margins that complements and helps strengthen our everyday low-price model, helping us to deliver more value to our customers."

Murphy USA shares fell 3% to trade at $389.49 on Friday.

These analysts made changes to their price targets on Murphy USA after the company reported quarterly results.

  • Wells Fargo raised the price target on Murphy USA from $395 to $440. Wells Fargo analyst Anthony Bonadio maintained an Overweight rating.
  • Stephens & Co. boosted the price target on Murphy USA from $425 to $470. Stephens & Co. analyst Ben Bienvenu maintained an Overweight rating.

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Latest Ratings for MUSA

DateFirmActionFromTo
Jan 2022Raymond JamesMaintainsOutperform
Oct 2021Raymond JamesMaintainsOutperform
Jul 2021Raymond JamesMaintainsOutperform
View More Analyst Ratings for MUSA

View the Latest Analyst Ratings

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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