Traders Buy Shares of Marathon Petroleum (MPC) on Weakness

Share on StockTwits

Traders bought shares of Marathon Petroleum Corp (NYSE:MPC) on weakness during trading on Thursday. $132.15 million flowed into the stock on the tick-up and $65.50 million flowed out of the stock on the tick-down, for a money net flow of $66.65 million into the stock. Of all equities tracked, Marathon Petroleum had the 11th highest net in-flow for the day. Marathon Petroleum traded down ($2.12) for the day and closed at $67.70

MPC has been the subject of several research reports. Zacks Investment Research upgraded Marathon Petroleum from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a report on Sunday, July 15th. Royal Bank of Canada reiterated a “buy” rating and issued a $87.00 target price on shares of Marathon Petroleum in a report on Friday, July 27th. JPMorgan Chase & Co. upped their target price on Marathon Petroleum from $98.00 to $102.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Mizuho started coverage on Marathon Petroleum in a report on Wednesday, August 1st. They issued a “buy” rating and a $95.00 target price for the company. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Marathon Petroleum in a research report on Monday, August 27th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $92.38.

The stock has a market capitalization of $31.49 billion, a P/E ratio of 17.68, a price-to-earnings-growth ratio of 0.95 and a beta of 1.50. The company has a quick ratio of 1.04, a current ratio of 1.65 and a debt-to-equity ratio of 0.97.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Thursday, November 1st. The oil and gas company reported $1.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.02. The firm had revenue of $23.13 billion during the quarter, compared to analyst estimates of $23.20 billion. Marathon Petroleum had a return on equity of 12.28% and a net margin of 4.48%. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.77 EPS. As a group, equities analysts anticipate that Marathon Petroleum Corp will post 5.16 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Wednesday, November 21st will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Tuesday, November 20th. Marathon Petroleum’s payout ratio is 48.42%.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in Marathon Petroleum by 9.8% during the 3rd quarter. BlackRock Inc. now owns 39,961,377 shares of the oil and gas company’s stock valued at $3,195,712,000 after buying an additional 3,550,450 shares in the last quarter. Bank of New York Mellon Corp increased its position in Marathon Petroleum by 16.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,709,970 shares of the oil and gas company’s stock valued at $696,535,000 after buying an additional 1,203,638 shares in the last quarter. Morgan Stanley increased its position in Marathon Petroleum by 59.5% during the 2nd quarter. Morgan Stanley now owns 5,798,607 shares of the oil and gas company’s stock valued at $406,829,000 after buying an additional 2,162,851 shares in the last quarter. PointState Capital LP acquired a new position in Marathon Petroleum during the 2nd quarter valued at about $378,482,000. Finally, FMR LLC increased its position in Marathon Petroleum by 46.6% during the 3rd quarter. FMR LLC now owns 4,706,401 shares of the oil and gas company’s stock valued at $376,371,000 after buying an additional 1,496,676 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY WARNING: This report was first reported by Ticker Report and is the sole property of of Ticker Report. If you are accessing this report on another site, it was stolen and reposted in violation of international copyright & trademark law. The original version of this report can be read at https://www.tickerreport.com/banking-finance/3929012/traders-buy-shares-of-marathon-petroleum-mpc-on-weakness.html.

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.

Read More: What Is An Exchange-Traded Fund (ETF)?

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.

Latest News

Michael Kors  PT Lowered to $52.00 at MKM Partners
Michael Kors PT Lowered to $52.00 at MKM Partners
Conagra Brands  Sets New 52-Week Low at $32.62
Conagra Brands Sets New 52-Week Low at $32.62
Dicks Sporting Goods  Reaches New 1-Year High at $39.75
Dicks Sporting Goods Reaches New 1-Year High at $39.75
Prudential Financial Inc  Shares Sold by Chartwell Investment Partners LLC
Prudential Financial Inc Shares Sold by Chartwell Investment Partners LLC
Chartwell Investment Partners LLC Cuts Holdings in Eagle Materials, Inc.
Chartwell Investment Partners LLC Cuts Holdings in Eagle Materials, Inc.
Crabel Capital Management LLC Sells 2,241 Shares of VanEck Vectors J.P. Morgan EM Local Currency Bond ETF
Crabel Capital Management LLC Sells 2,241 Shares of VanEck Vectors J.P. Morgan EM Local Currency Bond ETF


Leave a Reply

© 2006-2018 Ticker Report