Growing Fuel Margins Helped Murphy USA (MUSA)

ClearBridge Investments, an investment management company, released its “ClearBridge All Cap Value Strategy” third quarter 2023 investor letter. A copy of the same can be downloaded here. The strategy outperformed the benchmark, the Russell 3000 Value Index, in the third quarter. Favorable stock selection in the consumer discretionary, healthcare, and utilities sectors, as well as an overweight allocation to the energy sector, helped the strategy to mitigate the headwinds from financial holding. In addition, please check the fund’s top five holdings to know its best picks in 2023.

ClearBridge All Cap Value Strategy highlighted stocks like Murphy USA Inc. (NYSE:MUSA) in the third quarter 2023 investor letter. Headquartered in El Dorado, Arkansas, Murphy USA Inc. (NYSE:MUSA) engages in the marketing of motor fuel products and convenience merchandise through retail stores. On December 12, 2023, Murphy USA Inc. (NYSE:MUSA) stock closed at $360.02 per share. One-month return of Murphy USA Inc. (NYSE:MUSA) was -2.04%, and its shares gained 27.69% of their value over the last 52 weeks. Murphy USA Inc. (NYSE:MUSA) has a market capitalization of $7.66 billion.

ClearBridge All Cap Value Strategy made the following comment about Murphy USA Inc. (NYSE:MUSA) in its Q3 2023 investor letter:

“In the consumer discretionary sector, retail gas station and convenience store operator Murphy USA Inc. (NYSE:MUSA) benefited from rising fuel margins thanks to the combination of rising oil and gas prices and its low-cost operating discipline. As investors grew more uncertain about the future, the company saw increased demand for its lower-cost convenience store merchandise. We believe the company’s more defensive nature will remain a tailwind in an increasingly uncertain economy.”

An exterior view of an illuminated gas station at night, surrounded by cars.

Murphy USA Inc. (NYSE:MUSA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 31 hedge fund portfolios held Murphy USA Inc. (NYSE:MUSA) at the end of second quarter which was 32 in the previous quarter.

We discussed Murphy USA Inc. (NYSE:MUSA) in another article and shared SouthernSun Small Cap Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

• 10 Best Ray Dalio Stocks Other Billionaires Are Also Piling Into
• 11 Most Profitable Cryptocurrency Stocks
• 25 Countries That Love American Guys

 Disclosure: None. This article is originally published at Insider Monkey.