A company insider recently sold 35,174 shares of Marathon Petroleum Corporation [MPC]. Should You Sale?

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Marathon Petroleum Corporation shares valued at $3,291,286 were sold by Gagle Suzanne on Sep 19. At $93.57 per share, Gagle Suzanne sold 35,174 shares. The insider’s holdings dropped to 43,996 shares worth approximately $4.22 million following the completion of this transaction.

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Also, HAGEDORN CARL KRISTOPHER sold 14,353 shares, netting a total of over 1,512,908 in proceeds. Following the sale of shares at $105.41 each, the insider now holds 7,873 shares.

Before that, Kaczynski Thomas had sold 83,836 shares from its account. In a trade valued at $9,160,760, the SVP, Finance and Treasurer traded Marathon Petroleum Corporation shares for $109.27 each. Upon closing the transaction, the insider’s holdings decreased to 83,836 shares, worth approximately $0.76 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 28.9% 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] rose 1.38% to $95.98. The stock’s lowest price that day was $95.13, but it reached a high of $97.0588 in the same session. During the last five days, there has been a drop of approximately -0.17%. Over the course of the year, Marathon Petroleum Corporation shares have jumped approximately 49.99%. 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 $95.17, while a 200-day SMA reached $85.33. Nevertheless, trading volume fell to 3.16 million shares from 4.22 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 95.05, which, if violated, would cause prices to drop to 94.13. In the upper region, resistance lies at 96.98. The next price resistance is at 97.99. RSI (Relative Strength Index) is 46.11 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.64, which suggests the price will decrease in the coming days. Percent R is at 60.26%, 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 46,063,561 shares, which is about 9.24% of the total MPC shares outstanding. The investor’s shares have plunged by -10,020,960 from its previous 13-F filing of 56084521.0 shares. With the completion of the sale transaction, SSgA Funds Management, Inc.’s stake is now worth $3,848,829,335. BlackRock Fund Advisors reduced a -12.66% interest valued at $3.11 billion while Elliott Investment Management LP 0 stake. In its current portfolio, Wellington Management Co. LLP holds 6,477,455 shares valued at $652.6 million.


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