Investors Sell Shares of Marathon Petroleum (MPC) on Strength (MPC)
Traders sold shares of Marathon Petroleum Corp (NYSE:MPC) on strength during trading on Thursday. $42.63 million flowed into the stock on the tick-up and $82.08 million flowed out of the stock on the tick-down, for a money net flow of $39.45 million out of the stock. Of all equities tracked, Marathon Petroleum had the 0th highest net out-flow for the day. Marathon Petroleum traded up $1.41 for the day and closed at $81.62
Several brokerages have weighed in on MPC. Zacks Investment Research raised Marathon Petroleum from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a report on Friday, August 17th. Royal Bank of Canada cut Marathon Petroleum from a “top pick” rating to an “outperform” rating in a report on Wednesday, May 2nd. Bank of America boosted their price target on Marathon Petroleum from $80.00 to $88.00 and gave the stock a “neutral” rating in a report on Tuesday, May 1st. Jefferies Financial Group raised Marathon Petroleum from a “hold” rating to a “buy” rating and boosted their price target for the stock from $75.00 to $95.00 in a report on Thursday, May 3rd. Finally, ValuEngine cut Marathon Petroleum from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 6th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $85.47.
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 firm has a market capitalization of $36.18 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 1.32 and a beta of 1.40.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Thursday, August 16th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Wednesday, August 15th. This represents a $1.84 dividend on an annualized basis and a yield of 2.20%. Marathon Petroleum’s payout ratio is presently 48.42%.
In other Marathon Petroleum news, insider Thomas M. Kelley sold 24,818 shares of the company’s stock in a transaction dated Wednesday, May 30th. The stock was sold at an average price of $79.47, for a total value of $1,972,286.46. Following the completion of the transaction, the insider now owns 51,869 shares of the company’s stock, valued at approximately $4,122,029.43. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.09% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Greenleaf Trust increased its holdings in Marathon Petroleum by 10.1% in the 2nd quarter. Greenleaf Trust now owns 6,953 shares of the oil and gas company’s stock worth $488,000 after purchasing an additional 635 shares in the last quarter. MUFG Americas Holdings Corp increased its holdings in Marathon Petroleum by 2.4% in the 2nd quarter. MUFG Americas Holdings Corp now owns 27,240 shares of the oil and gas company’s stock worth $1,911,000 after purchasing an additional 639 shares in the last quarter. D.A. Davidson & CO. increased its holdings in Marathon Petroleum by 4.3% in the 1st quarter. D.A. Davidson & CO. now owns 16,622 shares of the oil and gas company’s stock worth $1,215,000 after purchasing an additional 688 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Marathon Petroleum by 1.4% in the 2nd quarter. Janney Montgomery Scott LLC now owns 51,889 shares of the oil and gas company’s stock worth $3,641,000 after purchasing an additional 692 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in Marathon Petroleum by 63.8% in the 1st quarter. Quadrant Capital Group LLC now owns 1,787 shares of the oil and gas company’s stock worth $120,000 after purchasing an additional 696 shares in the last quarter. 80.45% of the stock is owned by institutional investors and hedge funds.
Marathon Petroleum Company Profile (NYSE:MPC)
Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.
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