Analysts at Wells Fargo & Co. reiterated a Buy rating on shares of Murphy USA Inc. (NYSE: MUSA) in a reserach note to investors, making it one of the more closely watched stocks on Wall Street. Wells Fargo & Co. currently has a rating of Buy on the shares. The one-year price target of $83.80 is above the opening price of $72.16, resulting a fair amount of other analysts to issue statements on the company in recent days. Looking back over the last 52 weeks, Murphy USA Inc. stock has a high of $80.44. Stock prices sometimes get a boost to the upside when analysts reiterate coverage.
U.S. stocks closed higher Tuesday as investors anticipate the results of meetings from the Federal Reserve and the Bank of Japan.
The Dow Jones Industrial Average DJIA, +0.05% rose 9.79 points, or less than 0.1%, to close at 18,129.96.
The S&P 500 index SPX, +0.03% advanced 0.64 points to finish at 2,139.76, led by gains in the health-care and consumer-staples sectors.
The Nasdaq Composite index COMP, +0.12% gained 6.33 points, or 0.1%, to close at 5,241.35.
Yesterday Murphy USA Inc. (NYSE: MUSA) shares last traded at $70.08, which is a decrease of $2.80 over the previous closing price. Opening at $72.16, they ranged from $70.02 and $72.79 throughout the day.
Murphy USA Inc. (NYSE: MUSA) currently has a market cap of 2.74B.
The stock’s average daily volume is 320,673 shares out of a total float 37,450,000 and some 373,026 shares traded hands yesterday, 78 percent above the norm. Excessive volume aggregation by institutional investors may be in the near future as the combination of substantial gains in trading volume and price growth can be determining factors.
However, a single day of significant buy side trading is not enough to affirm a trend. So market traders will continue to look for institutional sponsorship as a cue that financial institutions are moving forward.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these retain teams of analysts researching thousands of stocks, so it is good corroboration to see them buying a stock you are considering.
Traders can make educated trades when they track the trading habits of professional investors.
With that in mind, Murphy USA Inc. (NYSE: MUSA) now has a 50-day MA of $74.48 and 200-day MA of $69.01. It has traded in a 52-week range between $51.68 – 80.44 and today’s last price is 0.13% lower than the 52 week high of $80.44.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors seek companies that have been successful at growing their earnings at least 25% or more over 3 consecutive years.
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