Murphy USA Marketing Co. (Murphy Oil USA, Inc.) operates nearly 1,200 retail gasoline stations under the Murphy USA® brand across 23 states in the United States. These are high-volume, low-cost retail gasoline stations and convenience stores, primarily in the parking areas of Wal-Mart Supercenters. More
Monday, Nov 257:59 AMConvenience store coverage initiated at JPMorgan
Monday, Nov 257:59 AM| Comment!
- JPMorgan has a look at gasoline convenience store chain spinoffs, initiating Valero spinoff CST Brands (CST) with a Buy and Murphy Oil spinoff Murphy USA (MUSA) with a Hold.
- It may be a valuation call, as Murphy USA is up 19% since it began trading on its own in late August, while CST is up less than 3%.
Tuesday, Sep 311:31 AMMurphy Oil completes spinoff of retail unit, shares slide
Tuesday, Sep 311:31 AM| Comment!
- Murphy Oil (MUR -13%) completes the spinoff of its U.S. retail marketing business into an independent public company, Murphy USA, which begins trading today on the NYSE under the ticker MUSA.
- To complete the spinoff, MUR shareholders received one common share of MUSA for every four shares of MUR stock.
- Andrew Clyde will be president and CEO of the new company, which will include more than 1,100 retail outlets, seven product distribution terminals and two ethanol production facilities in North Dakota and Texas.
- Howard Weil upgrades shares to Outperform and raises its target to $76 from $69, seeing increased upside based on valuation versus peers and a new management team focused on stock price appreciation.
Wednesday, Aug 74:45 PMMurphy Oil names Roger Jenkins as President/CEO|Wednesday, Aug 74:45 PM| Comment!
Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.