Murphy USA, Inc. (MUSA)

Over the past six months, Murphy USA's stock has seen a return of +7.7% as of February 6, 2026, although its one-year return was -24.3%. Key events include the Q4 2025 and full-year 2025 earnings report, which showed a net income decrease compared to 2024. The company increased its quarterly cash dividend by 18.9% in December 2025. Murphy USA repurchased approximately 1.5 million shares for $652.0 million in 2025. Several analysts adjusted their price targets and ratings for MUSA, with a consensus rating of "Hold". Mindy K. West was appointed Chief Executive Officer, succeeding R. Andrew Clyde, effective January 1, 2026.

Demand for Murphy USA's products and services exhibits some seasonality, though fuel demand is generally considered inelastic. Fuel sales are a primary revenue driver, but margins can be impacted by market volatility and competitive pressures. Convenience merchandise sales, particularly in categories like nicotine, packaged beverages, candy, and general merchandise, have shown consistent growth and resilience, often offsetting softness in fuel volumes. The company has seen merchandise sales increase for six consecutive years, driven by higher retail prices and an expanded network of larger stores.

Murphy USA, Inc. is a leading independent retailer of gasoline and convenience merchandise in the United States, operating within the Consumer Cyclical sector. The company's core business involves retail fuel sales and convenience store merchandise, including gasoline, diesel, snacks, beverages, and nicotine products. It operates under the brand names Murphy USA, Murphy Express, and QuickChek, with a business model emphasizing strategic co-location near Walmart Supercenters to drive customer traffic and a high-volume, low-cost approach.

Murphy USA operates over 1,700 retail fueling stations and convenience stores across 27 states, concentrated primarily in the Midwest, Southeastern, Southwest, and Northeast regions of the United States. Over 1,100 sites are located near Walmart stores as of February 21, 2024. The acquisition of approximately 150 QuickChek stores in 2021 expanded its footprint into the Northeast, including New York and New Jersey.

Murphy USA generally maintains a positive brand reputation, highlighted by its focus on "Low Prices, Friendly Service." The QuickChek brand is recognized as a "preferred one-stop-shop" known for its made-to-order subs and fresh coffee. Management's tone in recent earnings calls has been confident regarding operational execution and innovation. The company has been noted for its efforts in adapting to changing consumer perceptions, particularly regarding cleanliness and sustainability in the convenience store sector.

Institutional investors hold the vast majority of Murphy USA's shares, accounting for approximately 87.69%. Major institutional owners include BlackRock, Inc. and Vanguard Group Inc. Company insiders hold around 9.67% of the shares. Madison Murphy, the Board Chairman, is the largest individual shareholder, owning 3.96% of the company. Former CEO Andrew Clyde had a significant insider sale in November 2025.