Shares of Marathon Petroleum Corporation (MPC) Sees Large Outflow of Money

Marathon Petroleum Corporation (MPC) : Money flow in the Marathon Petroleum Corporation (MPC) stock was negative (32.18 million) on Tuesday, which shows that the investors used the strength in the stock price to reduce their holdings. The total traded value on upticks was $16.2 million, compared to $48.38 million on downticks. The total uptick to downtick ratio was 0.33, indicating the underlying weakness in the stock. Even in block trades, money flow was negative ($31.91 million), indicating selling on the strength. The transaction value during uptick in block trades was $1.52 million. Downtick transaction value in block trades amounted to $33.43 million, indicating persistent selling. The uptick to downtick ratio was 0.05. Marathon Petroleum Corporation (MPC) traded $0.39 higher at $42.68 gaining 0.92% over the previous days close.


Also, In the latest statement by the brokerage house, Piper Jaffray maintains its outlook on Marathon Petroleum Corporation (NYSE:MPC). The current rating of the shares is Neutral, according to the research report released by the firm. The brokerage firm raises the price target from $35 per share to $41 per share. The rating by the firm was issued on August 22, 2016.

Shares of Marathon Petroleum Corporation rose by 1.79% in the last five trading days and 10.96% for the last 4 weeks. Marathon Petroleum Corporation is up 18.14% in the last 3-month period. Year-to-Date the stock performance stands at -15.32%.

Marathon Petroleum Corporation (NYSE:MPC): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $42.37 and $41.96 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $42.77. The buying momentum continued till the end and the stock did not give up its gains. It closed at $42.68, notching a gain of 0.92% for the day. The total traded volume was 2,866,415 . The stock had closed at $42.29 on the previous day.

In a related news, Davis Steven A, director of Marathon Petroleum Corp, executed a transaction worth $52,050 on May 26, 2016. A total of 1,500 shares were purchased at an average price of $34.7. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.

Marathon Petroleum Corporation (MPC) is engaged petroleum product refining, marketing, retail and transportation businesses. It has three segments: Refining & Marketing, which refines crude oil and other feedstocks at its seven refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products; Speedway, which sells transportation fuels and convenience products in the retail market in the Midwest, East Coast and Southeast, and Pipeline Transportation, which transports crude oil and other feedstocks to its refineries and other locations, delivers refined products to wholesale and retail market areas and includes the aggregated operations of MPLX LP.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.