Will Marathon Petroleum Corporation (MPC) Short Squeeze Soon? The Stock Formed a Double Top Pattern

June 21, 2018 - By Winifred Garcia

Marathon Petroleum Corporation (NYSE:MPC) Logo

Investors sentiment decreased to 0.9 in 2018 Q1. Its down 0.06, from 0.96 in 2017Q4. It dived, as 52 investors sold Marathon Petroleum Corporation shares while 322 reduced holdings. 98 funds opened positions while 239 raised stakes. 354.13 million shares or 3.74% less from 367.91 million shares in 2017Q4 were reported.
North Carolina-based Sterling Mngmt Ltd Limited Liability Company has invested 0.11% in Marathon Petroleum Corporation (NYSE:MPC). 8.47 million are held by Goldman Sachs Gp. 2,770 are held by Cypress Asset Management Tx. Gradient Invests Limited Company stated it has 438 shares. Whalerock Point Partners Llc owns 3,600 shares for 0.08% of their portfolio. Sageworth Tru Com stated it has 0% of its portfolio in Marathon Petroleum Corporation (NYSE:MPC). Cypress Cap Group Incorporated accumulated 0.15% or 9,833 shares. Qs Invsts Ltd Llc, New York-based fund reported 188,636 shares. Bridgeway Cap Mgmt has invested 1.02% of its portfolio in Marathon Petroleum Corporation (NYSE:MPC). Cs Mckee L P invested 2.05% of its portfolio in Marathon Petroleum Corporation (NYSE:MPC). Fincl Bank Of Nova Scotia accumulated 62,226 shares. Minnesota-based Foundry Limited Liability Corporation has invested 0.7% in Marathon Petroleum Corporation (NYSE:MPC). Sumitomo Mitsui Incorporated reported 1.64 million shares. Argi Investment Svcs has invested 0.03% in Marathon Petroleum Corporation (NYSE:MPC). Stone Ridge Asset Management Limited Liability Company reported 5,352 shares or 0.02% of all its holdings.

Since March 6, 2018, it had 1 insider purchase, and 2 selling transactions for $3.27 million activity. The insider BUNCH CHARLES E bought 1,500 shares worth $101,070.

The chart of Marathon Petroleum Corporation (MPC) shows a double top with $75.34 target or 3.00 % above today’s $73.15 share price. The 9 months chart pattern indicates low risk for the $33.79 billion company. It was reported on Jun, 21 by Finviz.com. If the $75.34 price target is reached, the company will be worth $1.01 billion more. Double tops are rare but powerful chart patterns.

The stock decreased 0.91% or $0.67 during the last trading session, reaching $73.15. About 2.52 million shares traded. Marathon Petroleum Corporation (NYSE:MPC) has risen 46.81% since June 21, 2017 and is uptrending. It has outperformed by 34.24% the S&P500.

Analysts await Marathon Petroleum Corporation (NYSE:MPC) to report earnings on July, 26. They expect $1.71 EPS, up 66.02 % or $0.68 from last year’s $1.03 per share. MPC’s profit will be $789.80 million for 10.69 P/E if the $1.71 EPS becomes a reality. After $0.08 actual EPS reported by Marathon Petroleum Corporation for the previous quarter, Wall Street now forecasts 2,037.50 % EPS growth.

Marathon Petroleum Corporation (NYSE:MPC) Ratings Coverage

Among 15 analysts covering Marathon Petroleum (NYSE:MPC), 13 have Buy rating, 0 Sell and 2 Hold. Therefore 87% are positive. Marathon Petroleum had 28 analyst reports since January 3, 2018 according to SRatingsIntel. On Thursday, February 1 the stock rating was maintained by Cowen & Co with “Buy”. The firm has “Buy” rating given on Thursday, May 10 by Bank of America. Citigroup maintained Marathon Petroleum Corporation (NYSE:MPC) on Tuesday, March 13 with “Buy” rating. Wells Fargo maintained Marathon Petroleum Corporation (NYSE:MPC) rating on Tuesday, May 1. Wells Fargo has “Market Perform” rating and $80 target. The stock of Marathon Petroleum Corporation (NYSE:MPC) has “Sell” rating given on Monday, February 5 by Wells Fargo. On Wednesday, March 7 the stock rating was reinitiated by Credit Suisse with “Outperform”. The firm earned “Buy” rating on Friday, April 20 by RBC Capital Markets. The company was upgraded on Tuesday, February 13 by Goldman Sachs. The stock has “Overweight” rating by JP Morgan on Tuesday, March 13. JP Morgan maintained the shares of MPC in report on Monday, April 9 with “Overweight” rating.

More important recent Marathon Petroleum Corporation (NYSE:MPC) news were published by: Seekingalpha.com which released: “Reuters: Marathon Petroleum seeking EPA biofuel waiver” on May 23, 2018, also Bizjournals.com published article titled: “Behind The Deal: Andeavor looked to be bought while closing Western Refining acquisition”, 247Wallst.com published: “5 Stocks to Buy Now If You Fear a Trade War Market Crash” on June 20, 2018. More interesting news about Marathon Petroleum Corporation (NYSE:MPC) was released by: Bizjournals.com and their article: “Andeavor makes deal to boost expansion of ARCO gas stations in Mexico” with publication date: June 12, 2018.

Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. The company has market cap of $33.79 billion. It operates through three divisions: Refining & Marketing, Speedway, and Midstream. It has a 10.63 P/E ratio. The firm refines crude oil and other feed stocks at its seven refineries in the Gulf Coast and Midwest regions of the United States; and purchases ethanol and refined products for resale.

Marathon Petroleum Corporation (NYSE:MPC) Institutional Positions Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our free daily email newsletter: