Northern Trust Investments, Inc. has recently announced that it has increased stake in Marathon Petroleum Corp (NYSE:MPC) by 0.12%. After grabbing 4.14 million shares, the institutional investor is now in possession of 5111.0 shares of the Energy Company. The new investment brought the stake of investor firm to 1.09% having worth around $617.27 million. Moreover, Raymond James & Associates, Inc. increased its share by 0.1 million to have a control over 4.01 million shares.
Marathon Petroleum Corp (MPC) concluded trading on 01/03/24 at a closing price of $157.89, with 4.59 million shares of worth about $725.34 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 35.87% during that period and on Wednesday the price saw a gain of about 3.63%. Currently the company’s common shares owned by public are about 454.00M shares, out of which, 378.86M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 18 analysts are covering the MPC stock and their offered price forecasts bring an average price target of $165.50. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $191.00 and could fall to a lowest price of $141.00. The stock’s current price level is 4.6% above of average price target set by the analysts, while a rise to estimated low would result in loss of -11.98% for the stock. However, touching the estimated high of $191.00 would mean a gain of 17.34% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 94 times over the past 12 months. They bought 197,637 shares in 54 of the transactions. In 40 selling transactions, insiders dumped 234,823 shares.
Vanguard Total Stock Market ETF, SPDR Series – Energy Select Secto, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in Marathon Petroleum Corp Vanguard Total Stock Market ETF is currently holding 12.53 million shares of worth totaling $1.87 billion. The company recently came buying 19777.0 shares which brought its stake up to 3.30% of the company’s outstanding shares. SPDR Series – Energy Select Secto sold -0.12 million shares, after which its hold over company’s outstanding shares shrunk to 2.97%, leaving 11.26 million shares with the mutual fund that have a worth of about $1.68 billion. Vanguard 500 Index Fund, after buying 9.66 million shares, have now control over 2.54% of the stake in the company. It holds 45744.0 shares of worth $1.44 billion.
Marathon Petroleum Corp (NYSE: MPC) started trading at $152.50, above $0.14 from concluding price of the previous day. Stock saw a price change of 3.82% in past 5 days and over the past one month there was a price change of 4.27%. Year-to-date (YTD), MPC shares are showing a performance of 6.42% which increased to 35.66% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $104.32 but also hit the highest price of $159.65 during that period. The average intraday trading volume for Marathon Petroleum Corp shares is 3.07 million. The stock is currently trading 6.20% above its 20-day simple moving average (SMA20), while that difference is up 6.18% for SMA50 and it goes to 17.31% higher than SMA200.
Northern Trust Investments, Inc. acquired 4.14 million shares of Marathon Petroleum Corp having value of about $617.27 million. Data submitted at the U.S SEC by Northern Trust Investments, Inc. revealed that the firm now holds 5111.0 shares in the company valued at close to $806975.79, or have control over 0.12% stake in the company. Marathon Petroleum Corp (NYSE: MPC) currently have 454.00M outstanding shares and institutions hold larger chunk of about 77.25% of that. Holding of mutual funds in the company is about 38.56% while other institutional holders and individual stake holders have control over 39.41% and 1.36% of the stake respectively.
The stock has a current market capitalization of $59.95B and its 3Y-monthly beta is at 1.50. PE ratio of stock for trailing 12 months is 5.90, while it has posted earnings per share of $26.78 in the same period. It has Quick Ratio of 1.20 while making debt-to-equity ratio of 1.11. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for MPC, volatility over the week remained 2.41% while standing at 2.34% over the month.
Analysts are in expectations that Marathon Petroleum Corp (MPC) stock would likely to be making an EPS of $2.4 in the current quarter, while forecast for next quarter EPS is $2.72 and it is $15.3 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.05 which is $3.99 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $6.65 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -16.05% while it is estimated to decrease by -28.84% in next year.
Analysts at 18 brokerage firms have issued recommendations for the Marathon Petroleum Corp (MPC)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.67. Out of those 18 Wall Street analysts, 11 recommended a “Buy” rating, while 5 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Wells Fargo on December 14, 2023 offering an Overweight rating for the stock and assigned a target price range of between $159 and $169 to it.
