The Chart of the Day belongs to the energy company Marathon Petroleum (MPC) . I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 6/28 the stock gained 34.47%.
Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services. Its refined products include transportation fuels, such as reformulated gasolines and blend-grade gasolines; heavy fuel oil; and asphalt. This segment also manufactures propane, petrochemicals, and natural gas liquids. It sells refined products to wholesale marketing customers in the United States and internationally, buyers on the spot market, and independent entrepreneurs who operate primarily Marathon branded outlets, as well as through long-term fuel supply contracts to direct dealer locations primarily under the ARCO brand. The Midstream segment transports, stores, distributes, and markets crude oil and refined products through refining logistics assets, pipelines, terminals, towboats, and barges; gathers, processes, and transports natural gas; and gathers, transports, fractionates, stores, and markets natural gas liquids. The company was founded in 1887 and is headquartered in Findlay, Ohio.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 100% technical buy signals
- 68.56+ Weighted Alpha
- 63.48% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 10 new highs and up 8.34% in the last month
- Relative Strength Index 64.43%
- Technical support level at $152.18
- Recently traded at $154.77 with 50 day moving average of $140.85
Fundamental Factors:
- Market Cap $61.04 billion
- P/E 5.88
- Dividend yield 1.97%
- Revenue expected to decrease by 19.90% this year and another 7.00% next year
- Earnings estimated to decrease an additional 10.80% this year. decrease again by 34.10% next year and continue to decrease at compound at an annual rate of 17.90% for the next 5 years
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analyst gave 7 strong buy, 7 buy and 5 hold opinions on the stock
- Analysts gave price targets of $141 to $179
- The individual investors following the stock on Motley Fool voted 268 to 14 for the stock to beat the market with their most experienced investors voting 42 to 3 for the same result
- Value Line gave it its highest rating of 1
- CFRAs MarketScope rates it a 4 star buy
- 52,500 investors monitor the stock on Seeking Alpha
Disclosure: I/we own Marathon Petroleum (MPC) and feel it will peak when the price of oil peaks – I have a moving stop loss.
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
