Marathon Petroleum Corp (NYSE:MPC) was the recipient of a significant decline in short interest in December. As of December 29th, there was short interest totalling 7,487,312 shares, a decline of 39.5% from the December 15th total of 12,381,217 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average daily volume of 3,551,296 shares, the days-to-cover ratio is currently 2.1 days.
MPC has been the topic of a number of recent research reports. Goldman Sachs Group lowered Marathon Petroleum from a “buy” rating to a “neutral” rating and set a $63.00 price objective on the stock. in a research note on Tuesday, October 3rd. They noted that the move was a valuation call. Edward Jones raised Marathon Petroleum from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. Barclays reissued an “overweight” rating and set a $63.00 price objective (up previously from $62.00) on shares of Marathon Petroleum in a research note on Tuesday, October 10th. Zacks Investment Research raised Marathon Petroleum from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Monday, October 16th. Finally, Cowen reissued a “buy” rating and set a $60.00 price objective on shares of Marathon Petroleum in a research note on Tuesday, October 17th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $70.33.
In related news, insider Anthony R. Kenney sold 77,578 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $62.35, for a total transaction of $4,836,988.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Raymond L. Brooks sold 13,000 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $62.26, for a total value of $809,380.00. Following the transaction, the vice president now directly owns 32,205 shares in the company, valued at approximately $2,005,083.30. The disclosure for this sale can be found here. Insiders have sold 149,854 shares of company stock valued at $9,482,177 over the last quarter. 1.05% of the stock is owned by company insiders.
Marathon Petroleum (NYSE:MPC) opened at $70.78 on Wednesday. Marathon Petroleum has a 12 month low of $46.88 and a 12 month high of $71.83. The company has a market capitalization of $34,570.00, a price-to-earnings ratio of 22.12, a PEG ratio of 1.60 and a beta of 1.62. The company has a quick ratio of 0.80, a current ratio of 1.52 and a debt-to-equity ratio of 0.64.
Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Thursday, October 26th. The oil and gas company reported $1.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.48 by $0.29. Marathon Petroleum had a return on equity of 8.52% and a net margin of 2.35%. The business had revenue of $19.36 billion for the quarter, compared to analyst estimates of $19.38 billion. During the same quarter in the prior year, the company posted $0.58 EPS. The company’s quarterly revenue was up 17.6% on a year-over-year basis. sell-side analysts expect that Marathon Petroleum will post 3.8 earnings per share for the current year.
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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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