Marathon Petroleum (NYSE:MPC) Trading Down 5.3%

Marathon Petroleum Co. (NYSE:MPC) shares traded down 5.3% during mid-day trading on Tuesday . The stock traded as low as $189.57 and last traded at $189.92. 1,023,454 shares were traded during trading, a decline of 62% from the average session volume of 2,722,316 shares. The stock had previously closed at $200.51.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Citigroup assumed coverage on shares of Marathon Petroleum in a report on Wednesday, January 24th. They set a “neutral” rating for the company. StockNews.com raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a report on Saturday, March 9th. Bank of America boosted their price target on shares of Marathon Petroleum from $185.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, March 15th. JPMorgan Chase & Co. boosted their price target on shares of Marathon Petroleum from $172.00 to $186.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Finally, Piper Sandler boosted their price target on shares of Marathon Petroleum from $159.00 to $204.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $193.77.

Marathon Petroleum Stock Down 7.8 %

The company has a market cap of $66.61 billion, a price-to-earnings ratio of 8.03, a P/E/G ratio of 1.61 and a beta of 1.52. The company has a current ratio of 1.59, a quick ratio of 1.13 and a debt-to-equity ratio of 0.83. The business has a fifty day moving average price of $193.00 and a two-hundred day moving average price of $167.44.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, January 30th. The oil and gas company reported $3.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $1.77. Marathon Petroleum had a return on equity of 30.58% and a net margin of 6.44%. The company had revenue of $36.26 billion for the quarter, compared to the consensus estimate of $34.90 billion. During the same quarter in the prior year, the company earned $6.65 EPS. The firm’s quarterly revenue was down 8.9% on a year-over-year basis. On average, equities analysts predict that Marathon Petroleum Co. will post 20.49 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be issued a $0.825 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $3.30 dividend on an annualized basis and a yield of 1.79%. Marathon Petroleum’s dividend payout ratio is currently 14.02%.

Insiders Place Their Bets

In other news, Director Kim K.W. Rucker sold 1,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $170.35, for a total value of $170,350.00. Following the completion of the sale, the director now directly owns 23,446 shares of the company’s stock, valued at $3,994,026.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MPC. Norges Bank acquired a new position in shares of Marathon Petroleum in the fourth quarter valued at $500,685,000. J.P. Morgan Private Wealth Advisors LLC bought a new position in Marathon Petroleum in the third quarter valued at about $109,099,000. Acadian Asset Management LLC boosted its holdings in Marathon Petroleum by 127.0% in the third quarter. Acadian Asset Management LLC now owns 1,232,706 shares of the oil and gas company’s stock valued at $186,536,000 after acquiring an additional 689,576 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Marathon Petroleum by 256.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 884,573 shares of the oil and gas company’s stock valued at $131,235,000 after acquiring an additional 636,281 shares during the last quarter. Finally, Schroder Investment Management Group boosted its holdings in Marathon Petroleum by 309.9% during the fourth quarter. Schroder Investment Management Group now owns 643,590 shares of the oil and gas company’s stock worth $95,483,000 after buying an additional 486,573 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

About Marathon Petroleum

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. 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.