Marathon Petroleum Corp (NYSE: MPC) – Not A Clear Buying Opportunity?

Marathon Petroleum Corp (MPC) concluded trading on Wednesday at a closing price of $214.96, with 3.9 million shares of worth about $838.7 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 43.29% during that period and on April 3, 2024 the price saw a gain of about 1.69%. Currently the company’s common shares owned by public are about 368.00M shares, out of which, 359.58M shares are available for trading.

However, the stock later moved at a day high price of 182.95, or with a gain of 1.69%. Stock saw a price change of 8.91% in past 5 days and over the past one month there was a price change of 23.72%. Year-to-date (YTD), MPC shares are showing a performance of 44.89% which increased to 59.43% 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 $211.54 during that period. The average intraday trading volume for Marathon Petroleum Corp shares is 2.90 million. The stock is currently trading 11.90% above its 20-day simple moving average (SMA20), while that difference is up 21.53% for SMA50 and it goes to 42.20% higher than SMA200.

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Marathon Petroleum Corp (NYSE: MPC) currently have 368.00M outstanding shares and institutions hold larger chunk of about 78.79% of that.

The stock has a current market capitalization of $77.46B and its 3Y-monthly beta is at 1.52. PE ratio of stock for trailing 12 months is 9.14, while it has posted earnings per share of $23.53 in the same period. It has Quick Ratio of 1.13 while making debt-to-equity ratio of 1.17. 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 2.84% while standing at 2.37% over the month.

Stock’s fiscal year EPS is expected to drop by -23.25% while it is estimated to decrease by -9.14% in next year. EPS is likely to shrink at an annualized rate of -9.00% for next 5-years, compared to annual growth of 34.95% made by the stock over the past 5-years.

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 TD Cowen on January 31, 2024 offering an Outperform rating for the stock and assigned a target price range of between $168 and $170 to it. On December 14, 2023, Wells Fargo Upgrade their recommendations, while on August 16, 2023, Mizuho Downgrade their ratings for the stock with a price target of $161. Stock get a Neutral rating from BofA Securities on August 15, 2023.

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