Shares of Marathon Petroleum Corporation (NYSE:MPC) have been assigned a consensus recommendation of “Buy” from the twenty research firms that are presently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $59.17.
A number of analysts have weighed in on MPC shares. US Capital Advisors restated a “buy” rating on shares of Marathon Petroleum Corporation in a research note on Monday, May 22nd. Piper Jaffray Companies restated an “overweight” rating and issued a $62.00 price target on shares of Marathon Petroleum Corporation in a research note on Thursday, May 25th. Royal Bank Of Canada restated a “buy” rating and issued a $69.00 price target on shares of Marathon Petroleum Corporation in a research note on Thursday, June 1st. BidaskClub cut Marathon Petroleum Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, Scotiabank set a $55.00 price target on Marathon Petroleum Corporation and gave the company a “hold” rating in a research note on Tuesday, July 11th.
Shares of Marathon Petroleum Corporation (MPC) traded up 0.04% on Friday, reaching $53.77. The company had a trading volume of 3,426,014 shares. Marathon Petroleum Corporation has a 52 week low of $39.29 and a 52 week high of $56.81. The company has a 50 day moving average of $53.11 and a 200-day moving average of $52.00. The company has a market capitalization of $27.22 billion, a P/E ratio of 32.06 and a beta of 1.56.
Marathon Petroleum Corporation (NYSE:MPC) last posted its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.01). Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. The business had revenue of $18.35 billion during the quarter, compared to analyst estimates of $19.98 billion. During the same quarter in the prior year, the business earned $1.07 earnings per share. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. Analysts predict that Marathon Petroleum Corporation will post $2.90 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Wednesday, August 16th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.98%. The ex-dividend date was Monday, August 14th. This is a boost from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. Marathon Petroleum Corporation’s payout ratio is 90.91%.
In related news, insider Thomas M. Kelley sold 25,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $54.33, for a total value of $1,358,250.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.05% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its position in Marathon Petroleum Corporation by 2,779.4% in the 1st quarter. BlackRock Inc. now owns 56,121,367 shares of the oil and gas company’s stock valued at $2,836,372,000 after acquiring an additional 54,172,304 shares during the period. Vanguard Group Inc. increased its position in Marathon Petroleum Corporation by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 39,255,717 shares of the oil and gas company’s stock valued at $2,054,251,000 after acquiring an additional 1,544,114 shares during the period. State Street Corp increased its position in Marathon Petroleum Corporation by 0.4% in the 1st quarter. State Street Corp now owns 28,029,983 shares of the oil and gas company’s stock valued at $1,416,636,000 after acquiring an additional 107,894 shares during the period. Boston Partners increased its position in Marathon Petroleum Corporation by 1.8% in the 1st quarter. Boston Partners now owns 14,798,820 shares of the oil and gas company’s stock valued at $747,933,000 after acquiring an additional 267,469 shares during the period. Finally, Kensico Capital Management Corp increased its position in Marathon Petroleum Corporation by 7.7% in the 1st quarter. Kensico Capital Management Corp now owns 9,260,000 shares of the oil and gas company’s stock valued at $468,000,000 after acquiring an additional 660,000 shares during the period. Hedge funds and other institutional investors own 78.85% of the company’s stock.
About Marathon Petroleum Corporation
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.
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