MURPHY USA INC.
boothcheck covers MURPHY USA INC. (MUSA) but does not put one priced-in number on it: here the defensible answer is the evidence rather than a point estimate. boothcheck publishes no house fair value, target price, or buy/sell rating. Narrative composed June 27, 2026.
• Murphy USA runs a low-cost fuel-and-convenience network, many stores sited near Walmart under exclusivity arrangements, and earns its profit on fuel margins and merchandise rather than headline revenue. • The biggest risk is structural fuel demand: the 10-K flags that ⟦"increased use of lower- or zero-emission automobiles"⟧ and tightening fuel-economy standards could erode demand for its core product over time. • Watch fuel margins, which jumped to 35 cents a gallon last quarter, and the buyba
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524 institutional managers reported holding MUSA in 13F filings for the quarter ended 2026-03-31. Together they hold about 83% of the company; the top 10 hold 42%. 83 opened new positions that quarter. Held by BlackRock, Vanguard Group, FMR (Fidelity), among others. On the short side, 1.0M shares were sold short as of the 2026-06-15 count, about 6% of shares outstanding (3.2 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
MUSA has cut its share count 30.3% over the past five years, spending $2.47B on repurchases. It pays a dividend, and has for 6 years running, raised 5 years straight; the current rate is $2.15 a share annually. Cash returned over the past three years: $107.10M in dividends and $1.40B in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at MUSA over the trailing three years: 2025: 2 buys totaling $2.27M. 22 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
MUSA's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-04 | -2.6% | +18.5% |
| 2023-11-03 | +2.3% | -0.7% |
| 2024-02-17 | +1.4% | +4.8% |
| 2024-05-10 | -4.2% | +9.1% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
MUSA's latest 8-K filings: 2026-08-13 (items 7.01, 9.01); 2026-08-05 (items 2.02, 9.01); 2026-05-27 (items 8.01, 9.01); 2026-05-12 (items 8.01, 9.01); 2026-05-12 (items 8.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.