Investors Sell Shares of Marathon Petroleum (MPC) on Strength (MPC)
Traders sold shares of Marathon Petroleum Corp (NYSE:MPC) on strength during trading hours on Wednesday. $113.96 million flowed into the stock on the tick-up and $172.82 million flowed out of the stock on the tick-down, for a money net flow of $58.86 million out of the stock. Of all stocks tracked, Marathon Petroleum had the 17th highest net out-flow for the day. Marathon Petroleum traded up $3.11 for the day and closed at $86.39
A number of research analysts have recently commented on MPC shares. Zacks Investment Research lowered Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. Citigroup boosted their price objective on Marathon Petroleum from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, September 7th. Wells Fargo & Co restated a “buy” rating on shares of Marathon Petroleum in a research report on Monday, August 27th. Goldman Sachs Group began coverage on Marathon Petroleum in a research report on Tuesday. They set a “conviction-buy” rating on the stock. Finally, Royal Bank of Canada restated a “buy” rating and set a $87.00 price objective on shares of Marathon Petroleum in a research report on Friday, July 27th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $89.18.
The stock has a market cap of $36.07 billion, a PE ratio of 22.73, a P/E/G ratio of 1.34 and a beta of 1.50. The company has a quick ratio of 1.04, a current ratio of 1.60 and a debt-to-equity ratio of 0.92.
The business also recently declared a quarterly dividend, which was paid on Monday, September 10th. Shareholders of record on Thursday, August 16th were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date was Wednesday, August 15th. Marathon Petroleum’s dividend payout ratio (DPR) is 48.42%.
A number of large investors have recently made changes to their positions in MPC. PointState Capital LP bought a new stake in Marathon Petroleum in the second quarter valued at $378,482,000. Bank of Montreal Can bought a new stake in Marathon Petroleum in the second quarter valued at $184,334,000. Bank of New York Mellon Corp grew its position in Marathon Petroleum by 44.1% in the second quarter. Bank of New York Mellon Corp now owns 7,506,332 shares of the oil and gas company’s stock valued at $526,645,000 after acquiring an additional 2,297,774 shares during the period. Morgan Stanley grew its position in Marathon Petroleum by 59.5% in the second quarter. Morgan Stanley now owns 5,798,607 shares of the oil and gas company’s stock valued at $406,829,000 after acquiring an additional 2,162,851 shares during the period. Finally, Third Point LLC grew its position in Marathon Petroleum by 55.0% in the second quarter. Third Point LLC now owns 3,100,000 shares of the oil and gas company’s stock valued at $217,496,000 after acquiring an additional 1,100,000 shares during the period. Hedge funds and other institutional investors own 82.78% of the company’s stock.
About Marathon Petroleum (NYSE:MPC)
Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing, Speedway and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.
Recommended Story: What is a Call Option?
Receive News & Ratings for Marathon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.