Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Marathon Petroleum Corporation shares valued at $9,160,760 were sold by Kaczynski Thomas on Jun 10. At $109.27 per share, Kaczynski Thomas sold 83,836 shares. The insider’s holdings dropped to 7,944 shares worth approximately $0.72 million following the completion of this transaction.
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Also, Brooks Raymond L sold 133,857 shares, netting a total of over 12,960,113 in proceeds. Following the sale of shares at $96.82 each, the insider now holds 63,248 shares.
Before that, Rucker Kim K.W. had sold 5,000 shares from its account. In a trade valued at $415,000, the Director traded Marathon Petroleum Corporation shares for $83.00 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $3.52 million.
As published in their initiating research note from BMO Capital Markets on June 14, 2022, Marathon Petroleum Corporation [MPC] has been an Outperform and the price target has been revised to $135. This represents a 33.21% premium over Thursday’s closing price. Analysts at Goldman downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid May. As of January 25, 2022, Piper Sandler has decreased its “an Overweight” rating to a “Neutral” for MPC. Earlier on September 07, 2021, Morgan Stanley initiated its rating. Their recommendation was “an Overweight” for MPC stock.
Analyzing MPC’s Price Performance
On Thursday, Marathon Petroleum Corporation [NYSE: MPC] plunged -2.71% to $90.17. The stock’s lowest price that day was $89.77, but it reached a high of $92.61 in the same session. During the last five days, there has been a surge of approximately 0.65%. Over the course of the year, Marathon Petroleum Corporation shares have jumped approximately 40.91%. Shares of the company reached a 52-week high of $114.35 on 06/08/22 and a 52-week low of $64.27 on 01/03/22. A 50-day SMA is recorded $92.41, while a 200-day SMA reached $79.61. Nevertheless, trading volume fell to 4.37 million shares from 6.16 million shares the previous day.
Support And Resistance Levels for Marathon Petroleum Corporation (MPC)
According to the 24-hour chart, there is a support level at 89.09, which, if violated, would cause prices to drop to 88.01. In the upper region, resistance lies at 91.93. The next price resistance is at 93.69. RSI (Relative Strength Index) is 52.16 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.96, which suggests the price will increase in the coming days. Percent R is at 49.15%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Marathon Petroleum Corporation subject to short interest?
Stocks of Marathon Petroleum Corporation saw a sharp steep in short interest on Jul 14, 2022 dropping by 60000.0 shares to 16.59 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 16.65 million shares. A decline of -0.36% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.92 of the overall float, the days-to-cover ratio (short ratio) decline to 1.92.
Which companies own the most shares of Marathon Petroleum Corporation (MPC)?
According to The Vanguard Group, Inc. filings, the company currently owns 56,084,521 shares, which is about 10.37% of the total MPC shares outstanding. The investor’s shares have plunged by -2,243,770 from its previous 13-F filing of 58328291.0 shares. With the completion of the buy transaction, SSgA Funds Management, Inc.’s stake is now worth $3,433,531,397. BlackRock Fund Advisors reduced a -4.26% interest valued at $2.91 billion while Geode Capital Management LLC sold a -69,624 stake. A total of 495,000 shares of Marathon Petroleum Corporation were sold by Elliott Investment Management LP during the quarter, and -1,286,391 were sold by Boston Partners Global Investors,. In its current portfolio, Wellington Management Co. LLP holds 6,732,706 shares valued at $553.5 million.
In terms of Marathon Petroleum Corporation share price expectations, FactSet research, analysts set an average price target of $118.44 in the next 12 months, up nearly 28.4% from the previous closing price of $92.68. Analysts anticipate Marathon Petroleum Corporation stock to reach $132.00 by 2022, with the lowest price target being $94.00. In spite of this, 18 analysts ranked Marathon Petroleum Corporation stock as an Overweight at the end of 2022. On August 26, 2021, Citigroup assigned a price target of “a Buy” to the stock and upgraded coverage with a $67.