Marathon Petroleum Corp Sees Significant Growth in Short Interest (MPC)
Marathon Petroleum Corp (NYSE:MPC) saw a significant 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, Analyst Ratings Net reports. Based on an average trading volume of 3,242,666 shares, the short-interest ratio is presently 1.6 days. Currently, 1.8% of the company’s shares are short sold.
In other Marathon Petroleum Corp news, 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 stock was sold at an average price of $87.65, for a total value of $163,993.15. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on MPC shares. 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 investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $96.80.
Shares of Marathon Petroleum Corp (NYSE:MPC) opened at 90.09 on Tuesday. Marathon Petroleum Corp has a 52 week low of $61.32 and a 52 week high of $97.70. The stock’s 50-day moving average is $81.30 and its 200-day moving average is $86.55. The company has a market cap of $25.525 billion and a P/E ratio of 14.39.
Marathon Petroleum Corp (NYSE:MPC) last posted its quarterly 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. Analysts expect that Marathon Petroleum Corp will post $7.41 EPS 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 2.22%. The ex-dividend date is Monday, August 18th. This is a positive change from Marathon Petroleum Corp’s previous quarterly dividend of $0.42.
Marathon Petroleum Corporation (NYSE:MPC) is engaged in refining, transporting and marketing petroleum products in the United States.
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