Traders Buy Marathon Petroleum (MPC) on Weakness Following Insider Selling
Traders bought shares of Marathon Petroleum Corporation (NYSE:MPC) on weakness during trading hours on Tuesday following insider selling activity. $106.70 million flowed into the stock on the tick-up and $31.66 million flowed out of the stock on the tick-down, for a money net flow of $75.04 million into the stock. Of all stocks tracked, Marathon Petroleum had the 17th highest net in-flow for the day. Marathon Petroleum traded down ($1.26) for the day and closed at $64.75Specifically, insider Thomas M. Kelley sold 35,604 shares of the company’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $64.75, for a total transaction of $2,305,359.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Rodney P. Nichols sold 6,374 shares of the company’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $64.93, for a total transaction of $413,863.82. Following the transaction, the vice president now owns 74,674 shares in the company, valued at $4,848,582.82. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 149,854 shares of company stock worth $9,482,177. Corporate insiders own 1.05% of the company’s stock.
A number of research firms have issued reports on MPC. Goldman Sachs Group downgraded shares of Marathon Petroleum from a “buy” rating to a “neutral” rating and set a $63.00 target price on the stock. in a research report on Tuesday, October 3rd. They noted that the move was a valuation call. Cowen reaffirmed a “buy” rating and issued a $60.00 price target on shares of Marathon Petroleum in a research note on Tuesday, October 17th. UBS cut Marathon Petroleum from a “buy” rating to a “neutral” rating and upped their price target for the company from $63.00 to $65.00 in a research note on Wednesday, November 15th. Bank of America cut Marathon Petroleum from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 5th. Finally, Citigroup upped their price target on Marathon Petroleum from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Marathon Petroleum has an average rating of “Buy” and an average price target of $66.25.
The company has a debt-to-equity ratio of 0.64, a current ratio of 1.52 and a quick ratio of 0.80. The company has a market capitalization of $32,110.66, a P/E ratio of 19.98, a PEG ratio of 1.61 and a beta of 1.61.
The company also recently declared a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Thursday, November 16th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date was Wednesday, November 15th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 49.08%.
A number of large investors have recently added to or reduced their stakes in MPC. Blue Chip Partners Inc. acquired a new stake in shares of Marathon Petroleum in the 2nd quarter valued at approximately $100,000. First Interstate Bank boosted its holdings in shares of Marathon Petroleum by 81.1% in the 2nd quarter. First Interstate Bank now owns 2,376 shares of the oil and gas company’s stock valued at $124,000 after buying an additional 1,064 shares during the last quarter. Crow Point Partners LLC acquired a new stake in shares of Marathon Petroleum in the 3rd quarter valued at approximately $128,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Marathon Petroleum in the 3rd quarter valued at approximately $135,000. Finally, ClariVest Asset Management LLC acquired a new stake in shares of Marathon Petroleum in the 2nd quarter valued at approximately $143,000. 80.61% of the stock is owned by hedge funds and other institutional investors.
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About Marathon Petroleum
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.
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