Short Interest in Marathon Petroleum Corp (MPC) Declines By 39.5%

Marathon Petroleum Corp (NYSE:MPC) saw a significant drop in short interest in December. As of December 29th, there was short interest totalling 7,487,312 shares, a drop of 39.5% from the December 15th total of 12,381,217 shares. Approximately 1.5% of the shares of the company are short sold. Based on an average trading volume of 3,551,296 shares, the days-to-cover ratio is currently 2.1 days.

Shares of Marathon Petroleum (NYSE:MPC) opened at $70.78 on Wednesday. The company has a market capitalization of $34,570.00, a P/E ratio of 22.12, a PEG ratio of 1.60 and a beta of 1.62. Marathon Petroleum has a 12-month low of $46.88 and a 12-month high of $71.83. 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 posted its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $1.77 EPS for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.29. The business had revenue of $19.36 billion during the quarter, compared to analysts’ expectations of $19.38 billion. Marathon Petroleum had a return on equity of 8.52% and a net margin of 2.35%. The business’s revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.58 earnings per share. sell-side analysts anticipate that Marathon Petroleum will post 3.8 EPS for the current fiscal year.

MPC has been the subject of several recent research reports. Goldman Sachs Group cut Marathon Petroleum from a “buy” rating to a “neutral” rating and set a $63.00 price target for the company. in a research report on Tuesday, October 3rd. They noted that the move was a valuation call. Edward Jones upgraded Marathon Petroleum from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. Barclays reiterated an “overweight” rating and set a $63.00 price target (up from $62.00) on shares of Marathon Petroleum in a research report on Tuesday, October 10th. Zacks Investment Research upgraded Marathon Petroleum from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research report on Monday, October 16th. Finally, Cowen reiterated a “buy” rating and set a $60.00 price target on shares of Marathon Petroleum in a research report on Tuesday, October 17th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $70.33.

In related news, insider Anthony R. Kenney sold 77,578 shares of Marathon Petroleum stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $62.35, for a total transaction of $4,836,988.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas M. Kelley sold 35,604 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $64.75, for a total value of $2,305,359.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 149,854 shares of company stock valued at $9,482,177. 1.05% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Crow Point Partners LLC purchased a new stake in shares of Marathon Petroleum during the third quarter worth approximately $128,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Marathon Petroleum during the third quarter worth approximately $135,000. YorkBridge Wealth Partners LLC increased its position in shares of Marathon Petroleum by 7.3% during the second quarter. YorkBridge Wealth Partners LLC now owns 2,937 shares of the oil and gas company’s stock worth $156,000 after purchasing an additional 200 shares in the last quarter. BB&T Investment Services Inc. increased its position in shares of Marathon Petroleum by 118.2% during the third quarter. BB&T Investment Services Inc. now owns 3,063 shares of the oil and gas company’s stock worth $178,000 after purchasing an additional 1,659 shares in the last quarter. Finally, Cable Hill Partners LLC increased its position in shares of Marathon Petroleum by 886.1% during the third quarter. Cable Hill Partners LLC now owns 3,254 shares of the oil and gas company’s stock worth $182,000 after purchasing an additional 2,924 shares in the last quarter. Institutional investors and hedge funds own 80.61% of the company’s stock.

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About Marathon Petroleum

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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