In a filing, Marathon Petroleum Corp revealed its Director Rucker Kim K.W. unloaded Company’s shares for reported $0.17 million on Mar 01 ’24. In the deal valued at $170.35 per share,1,000 shares were sold. As a result of this transaction, Rucker Kim K.W. now holds 23,446 shares worth roughly $4.69 million.
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Then, Aydt Timothy J sold 7,955 shares, generating $1,375,284 in total proceeds. Upon selling the shares at $172.88, the Ex VP, Refining now owns 9,801 shares.
Before that, HAGEDORN CARL KRISTOPHER sold 1,436 shares. Marathon Petroleum Corp shares valued at $210,819 were divested by the Senior VP and Controller at a price of $146.81 per share. As a result of the transaction, HAGEDORN CARL KRISTOPHER now holds 5,480 shares, worth roughly $1.1 million.
TD Cowen reiterated its Marathon Petroleum Corp [MPC] rating to an Outperform in a research note published on January 31, 2024; the price target was $170. A number of analysts have revised their coverage, including Citigroup’s analysts, who began to cover the stock in late January with a ‘”a Neutral”‘ rating. Wells Fargo also remained covering MPC and has increased its forecast on December 14, 2023 with a “an Overweight” recommendation from previously “an Equal weight” rating. Mizuho revised its rating on August 16, 2023. It rated MPC as “a Neutral” which previously was an “a Buy”.
Price Performance Review of MPC
On Monday, Marathon Petroleum Corp [NYSE:MPC] saw its stock fall -0.17% to $199.83. Over the last five days, the stock has gained 3.28%. Marathon Petroleum Corp shares have risen nearly 34.69% since the year began. Nevertheless, the stocks have risen 58.41% over the past one year. While a 52-week high of $200.62 was reached on 03/25/24, a 52-week low of $104.32 was recorded on 01/08/24. SMA at 50 days reached $172.02, while 200 days put it at $148.92. A total of 2.04 million shares were traded, compared to the trading of 2.28 million shares in the previous session.
Levels Of Support And Resistance For MPC Stock
The 24-hour chart illustrates a support level at 198.56, which if violated will result in even more drops to 197.29. On the upside, there is a resistance level at 202.06. A further resistance level may holdings at 204.28. The Relative Strength Index (RSI) on the 14-day chart is 82.70, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 10.09, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 10.79%. Stochastics %K at 95.07% indicates the stock is a selling.
How much short interest is there in Marathon Petroleum Corp?
A steep rise in short interest was recorded in Marathon Petroleum Corp stocks on Feb 29, 2024, dropping by -0.31 million shares to a total of 7.77 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 8.08 million shares. There was a decline of -3.99%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.15% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.77.
