Marathon Petroleum Corp VP Michael G. Braddock Sells 1,871 Shares (MPC)
Marathon Petroleum Corp (NYSE:MPC) VP Michael G. Braddock sold 1,871 shares of the company’s stock on the open market in a transaction dated Friday, August 8th. The shares were sold at an average price of $87.65, for a total transaction of $163,993.15. Following the completion of the sale, the vice president now directly owns 7,312 shares in the company, valued at approximately $640,897. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Marathon Petroleum Corp (NYSE:MPC) traded down 0.11% during mid-day trading on Tuesday, hitting $86.99. The stock had a trading volume of 819,059 shares. Marathon Petroleum Corp has a one year low of $61.32 and a one year high of $97.70. The stock has a 50-day moving average of $80.57 and a 200-day moving average of $86.42. The company has a market cap of $24.646 billion and a price-to-earnings ratio of 14.14. Marathon Petroleum Corp also was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 5,149,985 shares, a growth of 53.5% from the July 15th total of 3,354,985 shares. Approximately 1.8% of the company’s shares are sold short. Based on an average daily trading volume, of 3,242,666 shares, the days-to-cover ratio is presently 1.6 days.
Marathon Petroleum Corp (NYSE:MPC) last announced its earnings results on Thursday, July 31st. The company reported $2.95 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.15 by $0.80. The company had revenue of $26.93 billion for the quarter, compared to the consensus estimate of $22.87 billion. During the same quarter last year, the company posted $1.95 earnings per share. Marathon Petroleum Corp’s revenue was up 4.5% compared to the same quarter last year. On average, analysts predict that Marathon Petroleum Corp will post $7.54 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Shareholders of record on Wednesday, August 20th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Monday, August 18th. This is a positive change from Marathon Petroleum Corp’s previous quarterly dividend of $0.42.
Several analysts have recently commented on the stock. Analysts at Credit Suisse upgraded shares of Marathon Petroleum Corp from a “neutral” rating to an “outperform” rating in a research note on Friday, August 1st. They now have a $110.00 price target on the stock, up previously from $105.00. Separately, analysts at Wolfe Research upgraded shares of Marathon Petroleum Corp from a “market perform” rating to an “outperform” rating in a research note on Monday, July 28th. Finally, analysts at Macquarie reiterated an “outperform” rating on shares of Marathon Petroleum Corp in a research note on Friday, July 11th. They now have a $100.00 price target on the stock, down previously from $116.00. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $96.80.
Marathon Petroleum Corporation (NYSE:MPC) is engaged in refining, transporting and marketing petroleum products in the United States.
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