Insider Selling: Marathon Petroleum Corporation (MPC) VP Sells 17,298 Shares of Stock
Marathon Petroleum Corporation (NYSE:MPC) VP C. Michael Palmer sold 17,298 shares of the business’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $64.55, for a total transaction of $1,116,585.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of Marathon Petroleum Corporation (NYSE MPC) traded up $0.12 during trading hours on Thursday, reaching $64.27. 2,106,740 shares of the company traded hands, compared to its average volume of 4,335,118. Marathon Petroleum Corporation has a one year low of $46.88 and a one year high of $65.41. The stock has a market capitalization of $31,497.70, a price-to-earnings ratio of 19.60, a PEG ratio of 1.58 and a beta of 1.61. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.52 and a quick ratio of 0.80.
Marathon Petroleum (NYSE:MPC) last announced its earnings results on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.29. Marathon Petroleum had a net margin of 2.35% and a return on equity of 8.52%. The company had revenue of $19.36 billion during the quarter, compared to analyst estimates of $19.38 billion. During the same period in the previous year, the business earned $0.58 earnings per share. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. equities analysts predict that Marathon Petroleum Corporation will post 3.83 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in the stock. Good Life Advisors LLC boosted its position in Marathon Petroleum by 0.5% during the second quarter. Good Life Advisors LLC now owns 6,708 shares of the oil and gas company’s stock valued at $363,000 after buying an additional 35 shares during the period. Parallel Advisors LLC boosted its position in Marathon Petroleum by 0.6% during the second quarter. Parallel Advisors LLC now owns 6,339 shares of the oil and gas company’s stock valued at $355,000 after buying an additional 36 shares during the period. Synovus Financial Corp boosted its position in Marathon Petroleum by 0.4% during the second quarter. Synovus Financial Corp now owns 19,967 shares of the oil and gas company’s stock valued at $1,043,000 after buying an additional 79 shares during the period. Bronfman E.L. Rothschild L.P. boosted its position in Marathon Petroleum by 2.9% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,700 shares of the oil and gas company’s stock valued at $194,000 after buying an additional 103 shares during the period. Finally, Pacer Advisors Inc. boosted its position in Marathon Petroleum by 1.1% during the second quarter. Pacer Advisors Inc. now owns 11,180 shares of the oil and gas company’s stock valued at $585,000 after buying an additional 117 shares during the period. Institutional investors own 80.83% of the company’s stock.
A number of research analysts have recently commented on MPC shares. Cowen restated a “buy” rating and set a $60.00 price target on shares of Marathon Petroleum in a research report on Tuesday, October 17th. BidaskClub upgraded shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Scotiabank restated a “hold” rating and set a $55.00 price target on shares of Marathon Petroleum in a research report on Friday, September 1st. Zacks Investment Research lowered shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Wednesday, November 22nd. Finally, Citigroup boosted their price target on shares of Marathon Petroleum from $67.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, October 18th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Marathon Petroleum currently has a consensus rating of “Buy” and an average target price of $66.25.
Marathon Petroleum Company Profile
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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