The stock is trading at $59.74 slightly over the 50 day moving average of $55.87 and which is well above the 200 day moving average of $53.48. The 50 day moving average was up $3.87 or +6.93% whereas the 200 day moving average was up $6.26 or +11.70%. (NYSE:MPC) shares saw heavy trading volume with 5,144K shares changing hands by the end of trading on Tuesday. Overall, volume was up 44.42% over the stocks normal daily volume.
Investors are more bearish on Marathon Petroleum Corporation of late if you evaluate the change in short interest. The company realized a rise in short interest of 6.80% as of the latest report on October 13, 2017. Short shares grew 655,846 over that timeframe. With short interest at 10,295,391 and short average daily volume at 2,885,418, the short-interest ratio is 4.0 and the short interest percentage is 0.02% as of October 13.
Here is a rundown on some insider market activity for Marathon Petroleum Corporation (NYSE:MPC). C. Michael Palmer, Sr. VP, Supply Distrib. & Plan disclosed the sale of 11,450 shares. The shares were sold on September 14th for an average price of $53.02. Palmer now owns $3,062,303 of the stock per the Form 4 SEC filing.
These firms have modified their investment in MPC. Clear Harbor Asset Management, LLC trimmed its ownership by selling 1,652 shares a decrease of 8.3%. Clear Harbor Asset Management, LLC controls 18,239 shares with a value of $1,023,000. The total value of its holdings decreased 4.3%. Andra Ap-fonden bolstered its stake by buying 9,500 shares an increase of 14.2% as of 09/30/2017. Andra Ap-fonden claims 76,300 shares valued at $4,279,000. The value of the position overall is up by 22.4%.
As of quarter end Finemark National Bank & Trust had sold 1,324 shares trimming its holdings by 1.2%. The value of the investment in MPC increased from $5,807,000 to $6,149,000 a change of $342,000 quarter over quarter. Affinity Investment Advisors, LLC divested its position by shedding 2,041 shares a decrease of 1.0% from 06/30/2017 to 09/30/2017. Affinity Investment Advisors, LLC owns 199,352 shares worth $11,180,000. The total value of its holdings increased 6.1%.
On October 3 the company was downgraded from “Buy” to “Neutral” by analysts at Goldman Sachs. October 10 investment analysts at Barclays maintained a stock rating of “Overweight” but moved up the price target from $54.00 to $63.00.
On October 18 Citigroup kept the company rating at “Buy” but raised the price expectation to $69.00 from $66.00.
The company is so far trading up since yesterday’s close of $59.74. Marathon Petroleum Corporation declared a dividend for shareholders payable on Monday the 11th of December 2017. The dividend will be $0.400 per share for the quarter which comes to $1.60 on an annualized basis. This dividend represents a yield of $2.74 which is the dividend as a percentage of the current share price. The ex-dividend date is Monday the 14th of August 2017.
The company currently has a P/E ratio of 35.62 and the market value is 30.24B. As of the latest earnings report the EPS was $1.68 and is expected to be $3.68 for the current year with 506,253,000 shares now outstanding. Analysts expect next quarter’s EPS to be $0.65 with next year’s EPS projected to be $4.19.
Marathon Petroleum Corporation, launched on November 9, 2009, is involved in petroleum product refining, marketing, retail and transportation businesses in the United States and the east of the Mississippi. The Business’s segments include Refining & Marketing, Speedway, and Midstream..Advertisement