Intrinsic value of Murphy USA - MUSA

Previous Close

$79.29

  Intrinsic Value

$168.56

stock screener

  Rating & Target

str. buy

+113%

Previous close

$79.29

 
Intrinsic value

$168.56

 
Up/down potential

+113%

 
Rating

str. buy

We calculate the intrinsic value of MUSA stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.6

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  19.20
  17.78
  16.50
  15.35
  14.32
  13.38
  12.55
  11.79
  11.11
  10.50
  9.95
  9.46
  9.01
  8.61
  8.25
  7.92
  7.63
  7.37
  7.13
  6.92
  6.73
  6.55
  6.40
  6.26
  6.13
  6.02
  5.92
  5.83
  5.74
  5.67
Revenue, $m
  15,289
  18,008
  20,979
  24,200
  27,665
  31,368
  35,303
  39,466
  43,852
  48,457
  53,279
  58,317
  63,571
  69,045
  74,740
  80,662
  86,817
  93,214
  99,862
  106,770
  113,952
  121,420
  129,189
  137,274
  145,693
  154,463
  163,603
  173,134
  183,078
  193,456
Variable operating expenses, $m
  14,785
  17,413
  20,287
  23,401
  26,752
  30,332
  34,138
  38,164
  42,405
  46,858
  51,520
  56,392
  61,474
  66,766
  72,273
  78,000
  83,952
  90,138
  96,566
  103,247
  110,192
  117,413
  124,926
  132,744
  140,885
  149,366
  158,204
  167,421
  177,036
  187,072
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  14,785
  17,413
  20,287
  23,401
  26,752
  30,332
  34,138
  38,164
  42,405
  46,858
  51,520
  56,392
  61,474
  66,766
  72,273
  78,000
  83,952
  90,138
  96,566
  103,247
  110,192
  117,413
  124,926
  132,744
  140,885
  149,366
  158,204
  167,421
  177,036
  187,072
Operating income, $m
  505
  594
  692
  799
  913
  1,035
  1,165
  1,302
  1,447
  1,599
  1,758
  1,924
  2,098
  2,278
  2,466
  2,662
  2,865
  3,076
  3,295
  3,523
  3,760
  4,007
  4,263
  4,530
  4,808
  5,097
  5,399
  5,713
  6,042
  6,384
EBITDA, $m
  644
  759
  884
  1,019
  1,165
  1,321
  1,487
  1,662
  1,847
  2,041
  2,244
  2,457
  2,678
  2,908
  3,148
  3,398
  3,657
  3,927
  4,207
  4,498
  4,800
  5,115
  5,442
  5,783
  6,137
  6,507
  6,892
  7,293
  7,712
  8,149
Interest expense (income), $m
  71
  53
  71
  91
  114
  138
  163
  191
  220
  251
  284
  318
  354
  392
  431
  471
  514
  558
  604
  651
  701
  752
  806
  861
  919
  980
  1,042
  1,108
  1,176
  1,247
  1,321
Earnings before tax, $m
  452
  523
  601
  685
  775
  872
  974
  1,082
  1,196
  1,315
  1,440
  1,570
  1,706
  1,848
  1,995
  2,148
  2,307
  2,472
  2,644
  2,822
  3,008
  3,201
  3,402
  3,611
  3,828
  4,055
  4,291
  4,538
  4,795
  5,063
Tax expense, $m
  122
  141
  162
  185
  209
  235
  263
  292
  323
  355
  389
  424
  461
  499
  539
  580
  623
  668
  714
  762
  812
  864
  918
  975
  1,034
  1,095
  1,159
  1,225
  1,295
  1,367
Net income, $m
  330
  382
  439
  500
  566
  636
  711
  790
  873
  960
  1,051
  1,146
  1,246
  1,349
  1,456
  1,568
  1,684
  1,805
  1,930
  2,060
  2,196
  2,337
  2,483
  2,636
  2,795
  2,960
  3,133
  3,313
  3,500
  3,696

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,778
  3,272
  3,812
  4,398
  5,027
  5,700
  6,415
  7,172
  7,969
  8,805
  9,682
  10,597
  11,552
  12,547
  13,582
  14,658
  15,776
  16,939
  18,147
  19,402
  20,707
  22,064
  23,476
  24,945
  26,475
  28,069
  29,730
  31,462
  33,269
  35,155
Adjusted assets (=assets-cash), $m
  2,778
  3,272
  3,812
  4,398
  5,027
  5,700
  6,415
  7,172
  7,969
  8,805
  9,682
  10,597
  11,552
  12,547
  13,582
  14,658
  15,776
  16,939
  18,147
  19,402
  20,707
  22,064
  23,476
  24,945
  26,475
  28,069
  29,730
  31,462
  33,269
  35,155
Revenue / Adjusted assets
  5.504
  5.504
  5.503
  5.503
  5.503
  5.503
  5.503
  5.503
  5.503
  5.503
  5.503
  5.503
  5.503
  5.503
  5.503
  5.503
  5.503
  5.503
  5.503
  5.503
  5.503
  5.503
  5.503
  5.503
  5.503
  5.503
  5.503
  5.503
  5.503
  5.503
Average production assets, $m
  1,911
  2,251
  2,622
  3,025
  3,458
  3,921
  4,413
  4,933
  5,481
  6,057
  6,660
  7,290
  7,946
  8,631
  9,342
  10,083
  10,852
  11,652
  12,483
  13,346
  14,244
  15,178
  16,149
  17,159
  18,212
  19,308
  20,450
  21,642
  22,885
  24,182
Working capital, $m
  -76
  -90
  -105
  -121
  -138
  -157
  -177
  -197
  -219
  -242
  -266
  -292
  -318
  -345
  -374
  -403
  -434
  -466
  -499
  -534
  -570
  -607
  -646
  -686
  -728
  -772
  -818
  -866
  -915
  -967
Total debt, $m
  1,186
  1,523
  1,892
  2,292
  2,722
  3,181
  3,670
  4,186
  4,731
  5,302
  5,901
  6,526
  7,178
  7,858
  8,564
  9,299
  10,063
  10,857
  11,682
  12,540
  13,431
  14,358
  15,322
  16,326
  17,371
  18,459
  19,594
  20,777
  22,011
  23,299
Total liabilities, $m
  1,898
  2,235
  2,604
  3,004
  3,434
  3,893
  4,382
  4,898
  5,443
  6,014
  6,613
  7,238
  7,890
  8,569
  9,276
  10,011
  10,775
  11,569
  12,394
  13,252
  14,143
  15,070
  16,034
  17,038
  18,083
  19,171
  20,305
  21,488
  22,723
  24,011
Total equity, $m
  881
  1,037
  1,209
  1,394
  1,594
  1,807
  2,034
  2,273
  2,526
  2,791
  3,069
  3,359
  3,662
  3,977
  4,305
  4,647
  5,001
  5,370
  5,753
  6,150
  6,564
  6,994
  7,442
  7,908
  8,393
  8,898
  9,424
  9,973
  10,546
  11,144
Total liabilities and equity, $m
  2,779
  3,272
  3,813
  4,398
  5,028
  5,700
  6,416
  7,171
  7,969
  8,805
  9,682
  10,597
  11,552
  12,546
  13,581
  14,658
  15,776
  16,939
  18,147
  19,402
  20,707
  22,064
  23,476
  24,946
  26,476
  28,069
  29,729
  31,461
  33,269
  35,155
Debt-to-equity ratio
  1.350
  1.470
  1.570
  1.640
  1.710
  1.760
  1.800
  1.840
  1.870
  1.900
  1.920
  1.940
  1.960
  1.980
  1.990
  2.000
  2.010
  2.020
  2.030
  2.040
  2.050
  2.050
  2.060
  2.060
  2.070
  2.070
  2.080
  2.080
  2.090
  2.090
Adjusted equity ratio
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  330
  382
  439
  500
  566
  636
  711
  790
  873
  960
  1,051
  1,146
  1,246
  1,349
  1,456
  1,568
  1,684
  1,805
  1,930
  2,060
  2,196
  2,337
  2,483
  2,636
  2,795
  2,960
  3,133
  3,313
  3,500
  3,696
Depreciation, amort., depletion, $m
  140
  164
  191
  221
  252
  286
  322
  360
  400
  442
  486
  532
  580
  630
  682
  736
  792
  850
  911
  974
  1,040
  1,108
  1,179
  1,253
  1,329
  1,409
  1,493
  1,580
  1,670
  1,765
Funds from operations, $m
  469
  546
  630
  721
  818
  923
  1,033
  1,150
  1,273
  1,402
  1,537
  1,678
  1,826
  1,979
  2,138
  2,304
  2,476
  2,655
  2,841
  3,035
  3,236
  3,445
  3,662
  3,888
  4,124
  4,370
  4,625
  4,892
  5,171
  5,461
Change in working capital, $m
  -12
  -14
  -15
  -16
  -17
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -30
  -31
  -32
  -33
  -35
  -36
  -37
  -39
  -40
  -42
  -44
  -46
  -48
  -50
  -52
Cash from operations, $m
  482
  560
  645
  737
  836
  941
  1,053
  1,171
  1,295
  1,425
  1,561
  1,704
  1,852
  2,006
  2,167
  2,334
  2,507
  2,687
  2,874
  3,069
  3,271
  3,482
  3,701
  3,929
  4,166
  4,413
  4,671
  4,940
  5,220
  5,513
Maintenance CAPEX, $m
  -117
  -140
  -164
  -191
  -221
  -252
  -286
  -322
  -360
  -400
  -442
  -486
  -532
  -580
  -630
  -682
  -736
  -792
  -850
  -911
  -974
  -1,040
  -1,108
  -1,179
  -1,253
  -1,329
  -1,409
  -1,493
  -1,580
  -1,670
New CAPEX, $m
  -305
  -340
  -371
  -403
  -433
  -463
  -492
  -520
  -548
  -576
  -603
  -630
  -657
  -684
  -712
  -740
  -769
  -800
  -831
  -864
  -898
  -934
  -971
  -1,011
  -1,052
  -1,096
  -1,143
  -1,191
  -1,243
  -1,297
Cash from investing activities, $m
  -422
  -480
  -535
  -594
  -654
  -715
  -778
  -842
  -908
  -976
  -1,045
  -1,116
  -1,189
  -1,264
  -1,342
  -1,422
  -1,505
  -1,592
  -1,681
  -1,775
  -1,872
  -1,974
  -2,079
  -2,190
  -2,305
  -2,425
  -2,552
  -2,684
  -2,823
  -2,967
Free cash flow, $m
  59
  80
  109
  143
  182
  226
  275
  328
  387
  450
  517
  588
  663
  742
  825
  911
  1,002
  1,095
  1,193
  1,294
  1,400
  1,509
  1,622
  1,739
  1,861
  1,988
  2,119
  2,256
  2,398
  2,546
Issuance/(repayment) of debt, $m
  305
  337
  369
  400
  430
  460
  488
  517
  544
  572
  598
  625
  652
  679
  707
  735
  764
  794
  825
  857
  891
  927
  964
  1,004
  1,045
  1,088
  1,134
  1,183
  1,234
  1,288
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  305
  337
  369
  400
  430
  460
  488
  517
  544
  572
  598
  625
  652
  679
  707
  735
  764
  794
  825
  857
  891
  927
  964
  1,004
  1,045
  1,088
  1,134
  1,183
  1,234
  1,288
Total cash flow (excl. dividends), $m
  364
  418
  478
  543
  612
  685
  763
  845
  931
  1,021
  1,115
  1,213
  1,315
  1,421
  1,532
  1,646
  1,766
  1,889
  2,018
  2,152
  2,291
  2,436
  2,586
  2,743
  2,906
  3,076
  3,254
  3,439
  3,632
  3,834
Retained Cash Flow (-), $m
  -142
  -157
  -171
  -186
  -200
  -213
  -227
  -240
  -253
  -265
  -278
  -290
  -303
  -315
  -328
  -341
  -355
  -368
  -383
  -398
  -414
  -430
  -448
  -466
  -485
  -505
  -527
  -549
  -573
  -598
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  222
  261
  307
  357
  412
  472
  537
  605
  678
  756
  837
  923
  1,012
  1,106
  1,204
  1,305
  1,411
  1,521
  1,635
  1,754
  1,877
  2,005
  2,139
  2,277
  2,421
  2,571
  2,727
  2,890
  3,059
  3,236
Discount rate, %
  5.80
  6.09
  6.39
  6.71
  7.05
  7.40
  7.77
  8.16
  8.57
  9.00
  9.45
  9.92
  10.42
  10.94
  11.48
  12.06
  12.66
  13.29
  13.96
  14.66
  15.39
  16.16
  16.97
  17.81
  18.71
  19.64
  20.62
  21.65
  22.74
  23.87
PV of cash for distribution, $m
  210
  232
  255
  275
  293
  308
  318
  323
  324
  319
  310
  297
  279
  259
  236
  211
  186
  161
  137
  114
  93
  74
  58
  45
  33
  24
  17
  12
  8
  5
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Murphy USA Inc. is engaged in the marketing of retail motor fuel products and merchandise through a chain of retail stores. The Company operates through the Marketing segment. The Marketing segment includes its retail marketing sites and product supply, and wholesale assets. As of December 31, 2016, its retail stores were located in 26 states, primarily in the Southwest, Southeast and Midwest the United States. Out of the total 1,401 stores, 1,152 were branded Murphy USA and 249 were Murphy Express locations, as of December 31, 2016. Its retail stores under the brand name Murphy USA participate in the Walmart discount program. The Walmart discount program offers a cents-off per gallon purchased for fuel when using specific payment methods as decided by Walmart and the Company. Its business also includes product supply and wholesale assets, including product distribution terminals and pipeline positions.

FINANCIAL RATIOS  of  Murphy USA (MUSA)

Valuation Ratios
P/E Ratio 13.3
Price to Sales 0.3
Price to Book 4.2
Price to Tangible Book
Price to Cash Flow 8.7
Price to Free Cash Flow 39.1
Growth Rates
Sales Growth Rate -8.7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 27.8%
Cap. Spend. - 3 Yr. Gr. Rate 10%
Financial Strength
Quick Ratio 4
Current Ratio 0
LT Debt to Equity 90.2%
Total Debt to Equity 96.1%
Interest Coverage 6
Management Effectiveness
Return On Assets 13.4%
Ret/ On Assets - 3 Yr. Avg. 12.5%
Return On Total Capital 16.7%
Ret/ On T. Cap. - 3 Yr. Avg. 16.4%
Return On Equity 29.7%
Return On Equity - 3 Yr. Avg. 27.7%
Asset Turnover 5.8
Profitability Ratios
Gross Margin 8.8%
Gross Margin - 3 Yr. Avg. 7.5%
EBITDA Margin 4.5%
EBITDA Margin - 3 Yr. Avg. 3.3%
Operating Margin 2.6%
Oper. Margin - 3 Yr. Avg. 2.2%
Pre-Tax Margin 3%
Pre-Tax Margin - 3 Yr. Avg. 2.2%
Net Profit Margin 1.9%
Net Profit Margin - 3 Yr. Avg. 1.6%
Effective Tax Rate 37.2%
Eff/ Tax Rate - 3 Yr. Avg. 36%
Payout Ratio 0%

MUSA stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MUSA stock intrinsic value calculation we used $12826.553 million for the last fiscal year's total revenue generated by Murphy USA. The default revenue input number comes from 0001 income statement of Murphy USA. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our MUSA stock valuation model: a) initial revenue growth rate of 19.2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 5.8%, whose default value for MUSA is calculated based on our internal credit rating of Murphy USA, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Murphy USA.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of MUSA stock the variable cost ratio is equal to 96.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for MUSA stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 6% for Murphy USA.

Corporate tax rate of 27% is the nominal tax rate for Murphy USA. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the MUSA stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for MUSA are equal to 12.5%.

Life of production assets of 13.7 years is the average useful life of capital assets used in Murphy USA operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for MUSA is equal to -0.5%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $738.4 million for Murphy USA - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 32.176 million for Murphy USA is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Murphy USA at the current share price and the inputted number of shares is $2.6 billion.

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COMPANY NEWS

▶ Murphy USA: 3Q Earnings Snapshot   [06:39PM  Associated Press]
▶ Murphy USA: 2Q Earnings Snapshot   [05:16PM  Associated Press]
▶ When Should You Buy Murphy USA Inc (NYSE:MUSA)?   [Jun-22-18 11:23AM  Simply Wall St.]
▶ Murphy USA: 1Q Earnings Snapshot   [May-01-18 05:54PM  Associated Press]
▶ Edited Transcript of MUSA presentation 6-Mar-17 12:30pm GMT   [Apr-10-18 10:59AM  Thomson Reuters StreetEvents]
▶ Murphy USA to Participate in Upcoming Investor Conferences   [Mar-01-18 04:15PM  GlobeNewswire]
▶ Murphy USA, Inc. to Host Earnings Call   [Feb-01-18 09:00AM  ACCESSWIRE]
▶ Murphy USA misses 4Q profit forecasts   [Jan-31-18 06:07PM  Associated Press]
▶ Stocks To Watch: Murphy USA Sees RS Rating Rise To 83   [Jan-09-18 03:00AM  Investor's Business Daily]
▶ Murphy USA Earns IBD Rating Upgrade   [03:00AM  Investor's Business Daily]
▶ Caseys Stock Fell 11% after Weak 2Q18 Results   [07:33AM  Market Realist]
▶ Caseys Top Line before Its 2Q18 Results   [Dec-08-17 11:10AM  Market Realist]
▶ Murphy USA Scores Relative Strength Rating Upgrade; Hits Key Threshold   [Dec-05-17 03:00AM  Investor's Business Daily]
▶ Murphy USA Shows Improved Relative Price Performance; Still Shy Of Benchmark   [Nov-30-17 03:00AM  Investor's Business Daily]
▶ Stocks Generating Improved Relative Strength: Murphy USA   [Nov-10-17 03:00AM  Investor's Business Daily]
▶ ETFs with exposure to Murphy USA, Inc. : November 9, 2017   [Nov-09-17 12:58PM  Capital Cube]
▶ Murphy USA, Inc. to Host Earnings Call   [Nov-02-17 09:35AM  ACCESSWIRE]
▶ Murphy USA tops 3Q profit forecasts   [05:49AM  Associated Press]
▶ Murphy USA Inc. Reports Third Quarter 2017 Results   [Nov-01-17 04:30PM  GlobeNewswire]
▶ Analyzing Caseys 1Q18 Gasoline Sales and Margins   [Sep-07-17 02:06PM  Market Realist]
▶ Murphy USA beats 2Q profit forecasts   [Aug-03-17 03:17PM  Associated Press]
▶ Murphy USA Inc. Reports Second Quarter 2017 Results   [Aug-02-17 04:16PM  GlobeNewswire]
▶ ETFs with exposure to Murphy USA, Inc. : June 15, 2017   [Jun-15-17 02:41PM  Capital Cube]
▶ ETFs with exposure to Murphy USA, Inc. : June 1, 2017   [Jun-01-17 01:58PM  Capital Cube]
▶ ETFs with exposure to Murphy USA, Inc. : May 22, 2017   [May-22-17 01:54PM  Capital Cube]
▶ Murphy USA reports 1Q loss   [May-01-17 05:20PM  Associated Press]
▶ Murphy USA Announces Pricing of Notes Offering   [Apr-20-17 06:00PM  GlobeNewswire]
▶ MURPHY USA ANNOUNCES ADDITION TO EXECUTIVE LEADERSHIP TEAM   [Apr-18-17 05:01PM  GlobeNewswire]
▶ Near-Term Uncertainties to Weigh on These Energy Stocks   [Mar-28-17 05:47PM  Investopedia]
▶ Caseys on the Street: Why All the Optimism?   [Mar-03-17 09:06AM  Market Realist]
▶ Can Caseys Return to Growth in 3Q17?   [Mar-02-17 01:35PM  Market Realist]

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