Traders Sell Marathon Petroleum Corp. (MPC) on Strength (MPC)
Investors sold shares of Marathon Petroleum Corp. (NYSE:MPC) on strength during trading on Tuesday. $29.01 million flowed into the stock on the tick-up and $40.32 million flowed out of the stock on the tick-down, for a money net flow of $11.31 million out of the stock. Of all stocks tracked, Marathon Petroleum Corp. had the 0th highest net out-flow for the day. Marathon Petroleum Corp. traded up $0.92 for the day and closed at $42.13
MPC has been the subject of a number of research analyst reports. 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 lifted their price target on shares of 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. Zacks Investment Research lowered shares of Marathon Petroleum Corp. from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 3rd. Citigroup Inc. reiterated a “buy” rating on shares of Marathon Petroleum Corp. in a research note on Wednesday, May 18th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Marathon Petroleum Corp. from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday, June 10th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $53.46.
The firm has a 50 day moving average of $38.65 and a 200-day moving average of $36.80. The company has a market capitalization of $22.28 billion and a price-to-earnings ratio of 11.63.
Marathon Petroleum Corp. (NYSE:MPC) last issued its earnings results on Thursday, July 28th. The company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.10. During the same quarter in the previous year, the company posted $1.51 earnings per share. The firm earned $16.81 billion during the quarter, compared to analyst estimates of $16.30 billion. The business’s revenue for the quarter was down 18.4% compared to the same quarter last year. On average, analysts forecast that Marathon Petroleum Corp. will post $2.30 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Wednesday, August 17th will be paid a $0.36 dividend. This is a positive change from Marathon Petroleum Corp.’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Monday, August 15th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.42%.
In other news, Director Steven A. Davis bought 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 26th. The stock was acquired at an average cost of $34.70 per share, for a total transaction of $52,050.00. Following the completion of the purchase, the director now owns 9,472 shares of the company’s stock, valued at approximately $328,678.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Other hedge funds and institutional investors have recently modified their holdings of the company. Stephens Inc. AR raised its position 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 last quarter. Airain ltd raised its position in shares of Marathon Petroleum Corp. by 863.4% in the fourth quarter. Airain ltd now owns 180,163 shares of the company’s stock worth $9,340,000 after buying an additional 161,462 shares during the last quarter. KBC Group NV raised its position in shares of Marathon Petroleum Corp. by 11.7% in the fourth quarter. KBC Group NV now owns 249,429 shares of the company’s stock worth $12,930,000 after buying an additional 26,196 shares during the last quarter. US Bancorp DE raised its position in shares of Marathon Petroleum Corp. by 10.0% in the fourth quarter. US Bancorp DE now owns 486,094 shares of the company’s stock worth $25,199,000 after buying an additional 44,334 shares during the last quarter. Finally, State of Tennessee Treasury Department raised its position in shares of Marathon Petroleum Corp. by 15.7% in the fourth quarter. State of Tennessee Treasury Department now owns 833,183 shares of the company’s stock worth $43,193,000 after buying an additional 112,758 shares during the last quarter.
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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