Marathon Petroleum (NYSE:MPC) Shares Down 3.3%

Shares of Marathon Petroleum Co. (NYSE:MPCGet Free Report) traded down 3.3% during trading on Wednesday . The stock traded as low as $168.32 and last traded at $168.72. 966,324 shares were traded during trading, a decline of 64% from the average session volume of 2,677,340 shares. The stock had previously closed at $174.46.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MPC. The Goldman Sachs Group upped their price target on Marathon Petroleum from $175.00 to $211.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Barclays lowered their target price on shares of Marathon Petroleum from $221.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, May 6th. Mizuho raised their target price on Marathon Petroleum from $200.00 to $203.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Bank of America increased their price target on shares of Marathon Petroleum from $185.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Finally, Tudor Pickering raised shares of Marathon Petroleum to a “strong-buy” rating in a research note on Thursday, May 30th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.23.

Get Our Latest Stock Report on MPC

Marathon Petroleum Price Performance

The stock has a market cap of $59.92 billion, a price-to-earnings ratio of 8.50, a price-to-earnings-growth ratio of 1.46 and a beta of 1.45. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 1.43. The company has a 50-day simple moving average of $186.35 and a two-hundred day simple moving average of $173.57.

Marathon Petroleum (NYSE:MPCGet Free Report) last issued its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.53 by $0.25. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The company had revenue of $32.71 billion during the quarter, compared to the consensus estimate of $32.07 billion. During the same period in the previous year, the company posted $6.09 EPS. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. As a group, equities research analysts forecast that Marathon Petroleum Co. will post 19.3 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 1.94%. The ex-dividend date was Wednesday, May 15th. Marathon Petroleum’s payout ratio is 16.48%.

Marathon Petroleum declared that its Board of Directors has approved a stock buyback program on Tuesday, April 30th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 7.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Marathon Petroleum

Several institutional investors have recently made changes to their positions in the stock. SRN Advisors LLC lifted its position in shares of Marathon Petroleum by 4.5% during the 1st quarter. SRN Advisors LLC now owns 6,059 shares of the oil and gas company’s stock valued at $1,221,000 after acquiring an additional 262 shares during the period. Keynote Financial Services LLC acquired a new position in shares of Marathon Petroleum in the 1st quarter valued at approximately $1,518,000. American Trust bought a new stake in shares of Marathon Petroleum during the 1st quarter worth approximately $269,000. EverSource Wealth Advisors LLC raised its position in Marathon Petroleum by 9.7% during the first quarter. EverSource Wealth Advisors LLC now owns 7,104 shares of the oil and gas company’s stock valued at $1,431,000 after purchasing an additional 631 shares in the last quarter. Finally, Maxwell Wealth Strategies Inc. increased its stake in shares of Marathon Petroleum by 2.0% in the 1st quarter. Maxwell Wealth Strategies Inc. now owns 15,681 shares of the oil and gas company’s stock valued at $3,160,000 after purchasing an additional 311 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Company Profile

(Get Free Report)

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.

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