Murphy USA opened a gas station across the street from a Super Walmart around six or seven years ago.
MarketBeat.com - MarketBeat Murphy gas stations are springing up all over the U.S. as the company sells gas at the pump.
The stock has been performing better than the S&P Midcap 400, which is tracked by theSPDR S&P MIDCAP 400 Exchange Traded Fund. Murphy has a market cap of $6.630 billion, making it squarely in the mid-cap territory, which makes the index more significant than the large-cap S&P 500.
Murphy USA was spun off from Murphy Oil in 2013. Walmart's land was purchased by the chain until 2016 It has been opening its own stores since then.
The company earned $7.53 per share in the second quarter, up from a year earlier. The views of $4.75 per share were trounced.
The revenue was $6.766 billion. Murphy USA has beaten both top and bottom line views in each of the last five quarters.
The analysts have a Moderate- Buy rating on the stock and a price target of $276.67.
The earnings expectations were reduced.
Wall Street is expecting earnings per share of $23.38 for this year, up from $21 in the previous year. That is expected to decline by 42%, to $13.38 per share.
Murphy said in its report that operating expenses would increase.
The company said, "Operating expenses in our stores have experienced labor pressures which have caused us to increase overtime spending and offer incentives to attract and retain qualified employees to run our business."
The CEO focused on bonus programs to recruit and retain workers. The flow of applicants is back to pre- Covid levels, according to him.
We probably have to go through a few more applicants to get the staff we need, and you still have the challenge of signing up a new staff member because they may not stay past the end of the week. Store managers are frustrated in getting out there.
The stock was supported by its 50-day moving average. The stock moved between small losses and gains early in Wednesday's session after falling to that line on Tuesday.
The convenience store industry is a price appreciation leader. Larger truck stops, such as Travelcenters of America, are included in the convenience store industry.
When I drive across the U.S., I notice that highways are jammed and the stores and truck stops are busy.
The bounceback since the Covid lockdowns has been shown by the earnings histories of these companies. Revenue declined in 2020 and early 2021, with earnings declining in the second and third quarters.
Murphy introduced the program in 2020 and it has increased each year since.
The company paid a quarterly cash dividend of $0.32 per share in August. The 3% increase over the previous quarter is noteworthy. The dividend will be paid on September 8 to stockholders.
The current yield is not much to write home about, but it is offset by price declines, which is a good thing. You need to make the stock one for that reason.
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