Investors Sell Marathon Petroleum Corp. (MPC) on Strength (MPC)
Traders sold shares of Marathon Petroleum Corp. (NYSE:MPC) on strength during trading hours on Wednesday. $16.20 million flowed into the stock on the tick-up and $48.38 million flowed out of the stock on the tick-down, for a money net flow of $32.18 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 $0.39 for the day and closed at $42.68
Several equities research analysts recently commented on the company. Piper Jaffray Cos. raised their target price on Marathon Petroleum Corp. from $35.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, August 22nd. Vetr downgraded Marathon Petroleum Corp. from a “strong-buy” rating to a “buy” rating and set a $46.75 target price on the stock. in a report on Tuesday, August 23rd. Zacks Investment Research upgraded Marathon Petroleum Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, August 16th. Jefferies Group assumed coverage on Marathon Petroleum Corp. in a report on Tuesday, August 23rd. They set a “buy” rating and a $48.00 target price on the stock. Finally, TheStreet upgraded Marathon Petroleum Corp. from a “hold” rating to a “buy” rating in a report on Monday, August 8th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. Marathon Petroleum Corp. has an average rating of “Buy” and an average target price of $52.54.
The firm’s 50 day moving average is $40.12 and its 200 day moving average is $37.40. The firm has a market cap of $22.48 billion and a PE ratio of 11.73.
Marathon Petroleum Corp. (NYSE:MPC) last posted its quarterly earnings data on Thursday, July 28th. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.10. During the same period in the prior year, the firm posted $1.51 EPS. The business had revenue of $16.81 billion for the quarter, compared to analyst estimates of $16.30 billion. Marathon Petroleum Corp.’s revenue for the quarter was down 18.4% on a year-over-year basis. On average, analysts expect that Marathon Petroleum Corp. will post $2.33 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Wednesday, August 17th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, August 15th. This is a positive change from Marathon Petroleum Corp.’s previous quarterly dividend of $0.32. This represents a $1.44 annualized dividend and a dividend yield of 3.39%.
An institutional investor recently raised its position in Marathon Petroleum Corp. stock. US Bancorp DE raised its stake in Marathon Petroleum Corp. (NYSE:MPC) by 10.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 486,094 shares of the company’s stock after buying an additional 44,334 shares during the period. US Bancorp DE owned about 0.09% of Marathon Petroleum Corp. worth $25,199,000 at the end of the most recent 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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