Investors Sell Marathon Petroleum Corporation (MPC) on Strength (MPC)
Investors sold shares of Marathon Petroleum Corporation (NYSE:MPC) on strength during trading on Wednesday. $23.21 million flowed into the stock on the tick-up and $56.06 million flowed out of the stock on the tick-down, for a money net flow of $32.85 million out of the stock. Of all stocks tracked, Marathon Petroleum Corporation had the 29th highest net out-flow for the day. Marathon Petroleum Corporation traded up $0.23 for the day and closed at $54.43
Several research analysts have weighed in on MPC shares. Zacks Investment Research upgraded shares of Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. BidaskClub upgraded shares of Marathon Petroleum Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 1st. Jefferies Group LLC restated a “buy” rating and set a $54.83 target price (down from $65.00) on shares of Marathon Petroleum Corporation in a research report on Thursday, July 20th. Cowen and Company upped their target price on shares of Marathon Petroleum Corporation from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $62.00 target price on shares of Marathon Petroleum Corporation in a research report on Thursday, May 25th. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $59.67.
The stock has a 50 day moving average price of $52.72 and a 200 day moving average price of $52.13. The stock has a market cap of $27.56 billion, a PE ratio of 32.46 and a beta of 1.56.
Marathon Petroleum Corporation (NYSE:MPC) last announced its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $1.03 EPS for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.01). Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. The company had revenue of $18.35 billion for the quarter, compared to analysts’ expectations of $19.98 billion. During the same period in the previous year, the firm posted $1.07 earnings per share. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. Equities research analysts forecast that Marathon Petroleum Corporation will post $2.92 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Wednesday, August 16th were given a dividend of $0.40 per share. The ex-dividend date was Monday, August 14th. This is an increase from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a yield of 2.94%. Marathon Petroleum Corporation’s payout ratio is presently 90.91%.
In related news, VP C. Michael Palmer sold 11,450 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $53.02, for a total transaction of $607,079.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.05% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Intl Fcstone Inc. purchased a new position in Marathon Petroleum Corporation during the second quarter valued at approximately $867,000. Achmea Investment Management B.V. grew its position in Marathon Petroleum Corporation by 19.6% during the second quarter. Achmea Investment Management B.V. now owns 62,672 shares of the oil and gas company’s stock valued at $3,276,000 after purchasing an additional 10,259 shares in the last quarter. Lord Abbett & CO. LLC grew its position in Marathon Petroleum Corporation by 9.8% during the second quarter. Lord Abbett & CO. LLC now owns 211,000 shares of the oil and gas company’s stock valued at $11,042,000 after purchasing an additional 18,900 shares in the last quarter. Navellier & Associates Inc purchased a new position in Marathon Petroleum Corporation during the second quarter valued at approximately $2,911,000. Finally, Sentry Investment Management LLC grew its position in Marathon Petroleum Corporation by 4.0% during the second quarter. Sentry Investment Management LLC now owns 41,266 shares of the oil and gas company’s stock valued at $2,159,000 after purchasing an additional 1,591 shares in the last quarter. 78.25% of the stock is currently owned by hedge funds and other institutional investors.
About Marathon Petroleum Corporation
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.
Receive News & Ratings for Marathon Petroleum Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Petroleum Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.