Here’s How Murphy USA (MUSA) is Able to Generate Market Share Gains
The London Company, an investment management company, released “The London Company Small Cap Strategy” second quarter 2023 investor letter. A copy of the same can be downloaded here. US stocks performed well in Q2, with the majority of the gain generated in the month of June. In the second quarter, the fund returned 2.5% gross (2.3% net) during the quarter compared to a 5.2% return for the Russell 2000 Index. Both sector exposure & stock selection were headwinds in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
The London Company Small Cap Strategy highlighted stocks like Murphy USA Inc. (NYSE:MUSA) in the second quarter 2023 investor letter. Headquartered in El Dorado, Arkansas, Murphy USA Inc. (NYSE:MUSA) engages in the marketing of motor fuel products retailers, and convenience merchandise. On August 2, 2023, Murphy USA Inc. (NYSE:MUSA) stock closed at $299.20 per share. One-month return of Murphy USA Inc. (NYSE:MUSA) was -6.37%, and its shares gained 0.98% of their value over the last 52 weeks. Murphy USA Inc. (NYSE:MUSA) has a market capitalization of $6.295 billion.
The London Company Small Cap Strategy made the following comment about Murphy USA Inc. (NYSE:MUSA) in its second quarter 2023 investor letter:
"Murphy USA Inc. (NYSE:MUSA) - Shares of MUSA rebounded in Q2 reflecting strong operating results and thoughtful capital allocation. MUSA's low-price/high-volume strategy has led to profitable market share gains in the current environment. In May, management announced a new repurchase program equivalent to roughly 25% of the company's market cap."
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Murphy USA Inc. (NYSE:MUSA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 28 hedge fund portfolios held Murphy USA Inc. (NYSE:MUSA) at the end of first quarter which was 29 in the previous quarter.
We discussed Murphy USA Inc. (NYSE:MUSA) in another article and shared The London Company Small-Mid Cap Strategy’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
