Shares of Marathon Petroleum Corp (NYSE:MPC) have received an average rating of “Buy” from the eighteen brokerages that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $93.85.
Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded Marathon Petroleum from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a report on Tuesday, October 9th. Wells Fargo & Co reiterated a “buy” rating on shares of Marathon Petroleum in a report on Monday, August 27th. Barclays began coverage on Marathon Petroleum in a report on Wednesday, October 3rd. They issued an “overweight” rating and a $125.00 target price for the company. Citigroup boosted their price target on Marathon Petroleum from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, September 7th. Finally, Goldman Sachs Group began coverage on Marathon Petroleum in a research report on Tuesday, October 2nd. They issued a “conviction-buy” rating for the company.
In related news, Director Steven A. Davis purchased 2,500 shares of Marathon Petroleum stock in a transaction dated Monday, November 19th. The stock was purchased at an average cost of $62.20 per share, with a total value of $155,500.00. Following the transaction, the director now owns 16,462 shares in the company, valued at approximately $1,023,936.40. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.09% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MPC. Rational Advisors LLC increased its position in Marathon Petroleum by 282.4% during the 3rd quarter. Rational Advisors LLC now owns 1,480 shares of the oil and gas company’s stock valued at $118,000 after buying an additional 1,093 shares in the last quarter. NEXT Financial Group Inc acquired a new position in Marathon Petroleum during the 3rd quarter valued at about $124,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Marathon Petroleum during the 2nd quarter valued at about $147,000. Columbia Asset Management acquired a new position in Marathon Petroleum during the 3rd quarter valued at about $156,000. Finally, Belpointe Asset Management LLC acquired a new position in Marathon Petroleum during the 3rd quarter valued at about $164,000. 83.16% of the stock is owned by hedge funds and other institutional investors.
Shares of MPC stock traded down $1.99 during mid-day trading on Monday, hitting $61.56. The stock had a trading volume of 9,721,153 shares, compared to its average volume of 5,724,437. Marathon Petroleum has a 12-month low of $60.64 and a 12-month high of $88.45. The stock has a market capitalization of $43.90 billion, a price-to-earnings ratio of 16.20, a P/E/G ratio of 0.78 and a beta of 1.43. The company has a current ratio of 1.65, a quick ratio of 1.09 and a debt-to-equity ratio of 0.97.
Marathon Petroleum (NYSE:MPC) last issued its earnings results on Thursday, November 1st. The oil and gas company reported $1.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.02. Marathon Petroleum had a return on equity of 12.28% and a net margin of 4.48%. The business had revenue of $23.13 billion during the quarter, compared to analysts’ expectations of $23.20 billion. During the same period in the prior year, the business earned $1.77 EPS. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. Research analysts predict that Marathon Petroleum will post 5.14 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Wednesday, November 21st will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Tuesday, November 20th. Marathon Petroleum’s payout ratio is 48.42%.
Marathon Petroleum Company Profile
Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.
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