Markets

Grab This Bargain Energy Stock Even Cheaper Than Director Bunch Did

There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on February 9, Marathon Petroleum Corp.'s Director, Charles E. Bunch, invested $99,880.00 into 2,000 shares of MPC, for a cost per share of $49.94. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Tuesday, bargain hunters could buy shares of Marathon Petroleum Corp. (Symbol: MPC) and achieve a cost basis even cheaper than Bunch, with shares changing hands as low as $49.89 per share. Marathon Petroleum Corp. shares are currently trading up about 0.4% on the day. The chart below shows the one year performance of MPC shares, versus its 200 day moving average:

Marathon Petroleum Corp. Chart

Looking at the chart above, MPC's low point in its 52 week range is $30.60 per share, with $54.59 as the 52 week high point - that compares with a last trade of $50.10. By comparison, below is a table showing the prices at which MPC insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
02/09/2017 Charles E. Bunch Director 2,000 $49.94 $99,880.00

MPC makes up 6.40% of the Oil Refiners ETF (Symbol: CRAK)

Click here to find out which 9 other energy stock bargains you can buy cheaper than insiders »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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