Is Murphy USA Inc (MUSA) A Good Stock To Buy?

With a general bullishness amongst the heavyweights, specific money managers have been driving this bullishness. Point72 Asset Management, managed by Steve Cohen, established the most valuable position in Murphy USA Inc (NYSE:MUSA). Point72 Asset Management had $25.2 million invested in the company at the end of the quarter. Wallace Weitz’s Wallace R. Weitz & Co. also initiated a $8.5 million position during the quarter. The other funds with new positions in the stock are Dmitry Balyasny’s Balyasny Asset Management, Paul Marshall and Ian Wace’s Marshall Wace LLP, and Jacob Gottlieb’s Visium Asset Management.

Let’s go over hedge fund activity in other stocks similar to Murphy USA Inc (NYSE:MUSA). These stocks are Allscripts Healthcare Solutions Inc (NASDAQ:MDRX), CBL & Associates Properties, Inc. (NYSE:CBL), PRA Health Sciences Inc (NASDAQ:PRAH), and Criteo SA (ADR) (NASDAQ:CRTO). This group of stocks’ market caps are similar to MUSA’s market cap.

As you can see these stocks had an average of 19 hedge funds with bullish positions and the average amount invested in these stocks was $281 million. That figure was $209 million in MUSA’s case. Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) is the most popular stock in this table. On the other hand, PRA Health Sciences Inc (NASDAQ:PRAH) is the least popular one with only 11 bullish hedge fund positions. Murphy USA Inc (NYSE:MUSA) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard, MDRX might be a better candidate to consider a long position.