Pretty interesting company. Smaller than Couche-Tard, so can likely grow a little faster. My main concerns would be the balance sheet overall. It's not that Murphy's is poor, it's just debt levels, at least compared to shareholder equity, are much higher. Couche-Tard does have a bit better margin profile as well.
They're both going through similar issues and seeing sizable drawdowns in share price right now because of the whole economic drawdown hitting sales.
My only other issue here is the company does depend a lot on tobacco sales. Couche-Tard has a bit more diverse product base inside of the stores.
I don't necessarily dislike Murphy. If one wanted to buy it over Couche-Tard I'd perfectly understand. It is cheaper. However, I'd tend to lean towards the operator with decades of outstanding execution when valuations are relatively similar, which they are. I believe Couche-Tard is trading for around 16x expected earnings while Murphy is 15.8X