Traders Sell Marathon Petroleum Corp. (MPC) on Strength (MPC)
Traders sold shares of Marathon Petroleum Corp. (NYSE:MPC) on strength during trading hours on Wednesday. $62.56 million flowed into the stock on the tick-up and $83.71 million flowed out of the stock on the tick-down, for a money net flow of $21.15 million out of the stock. Of all equities tracked, Marathon Petroleum Corp. had the 0th highest net out-flow for the day. Marathon Petroleum Corp. traded up $2.43 for the day and closed at $41.22
Several research firms recently weighed in on MPC. Goldman Sachs Group Inc. restated a “buy” rating on shares of Marathon Petroleum Corp. in a research note on Wednesday, April 27th. Royal Bank Of Canada upped their price target on Marathon Petroleum Corp. from $56.00 to $58.00 and gave the stock a “top pick” rating in a research note on Friday, April 29th. Vetr upgraded Marathon Petroleum Corp. from a “buy” rating to a “strong-buy” rating and set a $46.33 price target on the stock in a research note on Monday. Zacks Investment Research downgraded Marathon Petroleum Corp. from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 3rd. Finally, Credit Suisse Group AG cut their target price on Marathon Petroleum Corp. from $58.00 to $48.00 in a research note on Tuesday, April 12th. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $53.46.
The firm has a market cap of $21.76 billion and a price-to-earnings ratio of 11.37. The company’s 50 day moving average price is $36.84 and its 200-day moving average price is $36.77.
Marathon Petroleum Corp. (NYSE:MPC) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.10. The firm earned $16.81 billion during the quarter, compared to analysts’ expectations of $16.30 billion. During the same period in the prior year, the firm posted $1.51 earnings per share. Marathon Petroleum Corp.’s revenue for the quarter was down 18.4% compared to the same quarter last year. Equities analysts predict that Marathon Petroleum Corp. will post $2.40 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Wednesday, August 17th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 3.49%. This is an increase from Marathon Petroleum Corp.’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Monday, August 15th.
In related news, Director Steven A. Davis acquired 1,500 shares of the company’s stock in a transaction dated Thursday, May 26th. The shares were purchased at an average cost of $34.70 per share, with a total value of $52,050.00. Following the completion of the acquisition, the director now directly owns 9,472 shares of the company’s stock, valued at $328,678.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.
Several large investors recently made changes to their positions in MPC. Pittenger & Anderson Inc. raised its stake in shares of Marathon Petroleum Corp. by 1.0% in the fourth quarter. Pittenger & Anderson Inc. now owns 56,485 shares of the company’s stock worth $2,928,000 after buying an additional 550 shares during the period. Pitcairn Co. raised its stake in shares of Marathon Petroleum Corp. by 1.2% in the fourth quarter. Pitcairn Co. now owns 68,101 shares of the company’s stock worth $3,530,000 after buying an additional 793 shares during the period. ARGI Investment Services LLC raised its stake in shares of Marathon Petroleum Corp. by 5.2% in the fourth quarter. ARGI Investment Services LLC now owns 19,445 shares of the company’s stock worth $1,008,000 after buying an additional 959 shares during the period. Suntrust Banks Inc. raised its stake in shares of Marathon Petroleum Corp. by 1.9% in the fourth quarter. Suntrust Banks Inc. now owns 211,381 shares of the company’s stock worth $10,956,000 after buying an additional 3,984 shares during the period. Finally, Stephens Inc. AR raised its stake in shares of Marathon Petroleum Corp. by 6.0% in the fourth quarter. Stephens Inc. AR now owns 76,781 shares of the company’s stock worth $3,980,000 after buying an additional 4,360 shares during the period.
Marathon Petroleum Corporation is engaged in petroleum product refining, marketing, retail and transportation businesses in the United States and the east of the Mississippi. The Company’s segments include Refining & Marketing, Speedway, and Midstream. Its Refining & Marketing segment refines crude oil and other feedstocks at its approximately seven refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products.
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