Traders Purchase Large Volume of Marathon Petroleum Corp Put Options (MPC)
Shares of Marathon Petroleum Corp (NYSE:MPC) were the recipient of unusually large options trading on Thursday. Stock traders acquired 3,036 put options on the stock, Analyst Ratings.Net reports. This represents an increase of 137% compared to the typical volume of 1,280 put options.
In other Marathon Petroleum Corp news, VP Michael G. Braddock sold 1,871 shares of the company’s stock 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on MPC. 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 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. Marathon Petroleum Corp currently has a consensus rating of “Buy” and an average price target of $96.80.
Marathon Petroleum Corp (NYSE:MPC) traded down 1.36% on Thursday, hitting $90.06. 2,388,244 shares of the company’s stock traded hands. Marathon Petroleum Corp has a 52-week low of $61.32 and a 52-week high of $97.70. The stock has a 50-day moving average of $82.04 and a 200-day moving average of $86.62. The company has a market cap of $25.516 billion and a price-to-earnings ratio of 14.83.
Marathon Petroleum Corp (NYSE:MPC) last released its earnings data 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 $7.39 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 10th. Investors of record on Wednesday, August 20th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Monday, August 18th. This is an increase 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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