Traders Sell Shares of Marathon Petroleum (MPC) on Strength (MPC)

Investors sold shares of Marathon Petroleum Corp (NYSE:MPC) on strength during trading hours on Friday. $32.66 million flowed into the stock on the tick-up and $50.89 million flowed out of the stock on the tick-down, for a money net flow of $18.23 million out of the stock. Of all companies tracked, Marathon Petroleum had the 0th highest net out-flow for the day. Marathon Petroleum traded up $0.18 for the day and closed at $80.93

A number of research firms have commented on MPC. Mizuho began coverage on shares of Marathon Petroleum in a report on Wednesday, August 1st. They issued a “buy” rating and a $95.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on shares of Marathon Petroleum from $98.00 to $102.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $87.00 price objective on shares of Marathon Petroleum in a report on Friday, July 27th. Zacks Investment Research downgraded shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Monday, July 16th. Finally, ValuEngine downgraded shares of 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 issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $85.00.

The company has a quick ratio of 1.12, a current ratio of 1.60 and a debt-to-equity ratio of 0.92. The company has a market cap of $36.42 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 1.33 and a beta of 1.40.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Thursday, July 26th. The oil and gas company reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.29. The company had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.14 billion. Marathon Petroleum had a return on equity of 12.83% and a net margin of 4.89%. The firm’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same period last year, the business posted $0.93 earnings per share. sell-side analysts expect that Marathon Petroleum Corp will post 5.12 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Thursday, August 16th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Wednesday, August 15th. Marathon Petroleum’s payout ratio is 48.42%.

In related news, insider Thomas M. Kelley sold 24,818 shares of Marathon Petroleum stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $79.47, for a total transaction of $1,972,286.46. Following the sale, the insider now directly owns 51,869 shares in the company, valued at $4,122,029.43. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.09% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can bought a new stake in Marathon Petroleum in the second quarter worth about $184,334,000. Bank of New York Mellon Corp raised 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 worth $526,645,000 after acquiring an additional 2,297,774 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Marathon Petroleum by 639.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,230,995 shares of the oil and gas company’s stock worth $163,108,000 after acquiring an additional 1,929,448 shares in the last quarter. Third Point LLC raised 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 worth $217,496,000 after acquiring an additional 1,100,000 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in Marathon Petroleum by 79.2% in the second quarter. Janus Henderson Group PLC now owns 1,943,169 shares of the oil and gas company’s stock worth $136,334,000 after acquiring an additional 858,626 shares in the last quarter. Institutional investors and hedge funds own 79.57% of the company’s stock.

Marathon Petroleum Company Profile

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.

See Also: Closed-End Mutual Funds (CEFs)

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