Investors Buy High Volume of Marathon Petroleum Corp Call Options (MPC)
Marathon Petroleum Corp (NYSE:MPC) was the recipient of some unusual options trading on Tuesday. Investors bought 12,506 call options on the stock, Analyst Ratings Net reports. This represents an increase of 272% compared to the typical daily volume of 3,366 call options.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Marathon Petroleum Corp in a research note on Monday, August 25th. They now have a $95.00 price target on the stock. Separately, 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. Finally, 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. Five research 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 company. The company currently has a consensus rating of “Buy” and an average price target of $96.64.
Shares of Marathon Petroleum Corp (NYSE:MPC) traded down 1.65% during mid-day trading on Tuesday, hitting $89.51. 2,969,611 shares of the company’s stock traded hands. Marathon Petroleum Corp has a 1-year low of $61.32 and a 1-year high of $97.70. The stock’s 50-day moving average is $84.21 and its 200-day moving average is $86.95. The company has a market cap of $25.360 billion and a P/E ratio of 14.78.
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. Analysts expect that Marathon Petroleum Corp will post $7.42 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 10th. Stockholders 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 2.23%. The ex-dividend date of this dividend is Monday, August 18th. This is a boost 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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