JP Morgan Cuts Murphy USA (MUSA) Price Target to $626

JP Morgan reiterated its Overweight rating on Murphy USA Inc. (NYSE:MUSA) on October 22, 2026, while adjusting its price target down from $633.00 to $626.00. The research note provides a forward-looking perspective on the specialty retailer as market participants weigh recent operational trends.

MUSA Murphy USA Inc.

$530.52 ▲ +31.40% year to date

1M 3M YTD

Daily close · Oct 22, 2026

JP Morgan's Call on Murphy USA

In its research note published on October 22, 2026, JP Morgan maintained an Overweight rating on the stock while moving its target to $626.00 from $633.00. This follows earlier coverage adjustments across Wall Street, including RBC Capital maintaining a Sector Perform rating and a $612.00 target on October 15, 2026. Prior updates included Wells Fargo holding an Equal-Weight rating with a $570.00 target in July and B of A Securities maintaining a Neutral rating at $625.00.

Other Institutional Activity in Murphy USA

Large funds continue to adjust their holdings in the fuel and convenience store operator. Boston Partners holds 561,246 shares worth about $296.3 million after a 4.5% increase. Renaissance Technologies, LLC grew its position by 108,324 shares to end with 340,182 shares valued at roughly $179.6 million. Meanwhile, AQR Capital Management, LLC trimmed its stake by 11,847 shares to 304,067 shares worth about $160.5 million, and Huntington National Bank kept its holding steady at 414,719 shares valued at $218.9 million. Smaller holder Livforsakringsbolaget Skandia, Omsesidigt grew its stake significantly by 5,650 shares to reach 7,750 shares worth about $3.9 million.

Murphy USA Inc. Stock Holds Steady

The company's shares recently traded around $536.52 as of October 22, 2026. The stock closed at $525.89 on the day of JP Morgan's update. Shares sit above their 50-day moving average of $530.05 and their 200-day moving average of $513.03, while trading below the consensus mean price target of $616.40.

Recent Earnings

Murphy USA posted trailing twelve-month revenue of $19.1 billion and earnings of $32.76 per share. The company reported a net profit margin of 3.2% and a return on equity of 86.4%. Its next earnings report is scheduled for October 28, 2026.

Dividend

The company provides shareholders an annual dividend rate of $2.60 per share, which translates to a dividend yield of 0.48%. Payouts represent 7.4% of earnings based on recent figures.

Insider Buying and Selling at Murphy USA Inc.

Company insiders have completed several transactions in recent months. Director James W. Keyes sold 2,339 shares on June 1, 2026, for about $1.2 million. Director Diane N. Landen disposed of 3,000 shares on June 5, 2026, valued at roughly $1.6 million. Later, Director Rosemary Turner sold 966 shares on August 20, 2026, for $552,436, and officer Eric J. Bartko sold 100 shares on September 3, 2026, for $52,360.

Analysts Set New Price Targets

Overall, the stock carries a consensus Buy rating with a mean price target of $616.40 across 10 analyst opinions, with targets ranging from a low of $550.00 up to a high of $680.00.

About Murphy USA

Murphy USA operates a large network of retail motor fuel stations and convenience stores primarily located near Walmart stores across the Southeast, Southwest, and Midwest. The company runs locations under the Murphy USA, Murphy Express, and QuickChek banners, focusing on high-volume fuel sales alongside snacks, drinks, and other convenience merchandise.

Bottom Line

Investors will watch the company's upcoming earnings release on October 28, 2026, for updated financial results. Additional institutional filings and further Wall Street updates will help clarify sentiment for the remainder of the year.