Marathon Petroleum (NYSE:MPC) Sets New 52-Week High – Here’s Why

Marathon Petroleum Corporation (NYSE:MPC) hit a new 52-week high on Monday. The stock traded as high as $488.74 and last traded at $492.5160, with a volume of 120,308 shares traded. The stock had previously closed at $478.07.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MPC. Wells Fargo & Company raised their target price on Marathon Petroleum from $400.00 to $560.00 and gave the company an “overweight” rating in a research note on Wednesday. UBS Group set a $510.00 price target on shares of Marathon Petroleum in a research report on Friday, October 9th. Citigroup increased their price objective on shares of Marathon Petroleum from $318.00 to $518.00 and gave the stock a “neutral” rating in a report on Tuesday, October 13th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $433.00 price objective on shares of Marathon Petroleum in a report on Sunday, October 11th. Finally, Piper Sandler lifted their price objective on shares of Marathon Petroleum from $344.00 to $462.00 and gave the company an “overweight” rating in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $417.88.

Marathon Petroleum Stock Performance

The company has a market cap of $140.43 billion, a P/E ratio of 16.54, a PEG ratio of 0.14 and a beta of 0.54. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. The company has a 50 day moving average price of $397.65 and a 200-day moving average price of $309.39.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, beating analysts’ consensus estimates of $14.27 by $3.46. The business had revenue of $51.99 billion for the quarter, compared to analysts’ expectations of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The company’s revenue was up 53.5% on a year-over-year basis. During the same period in the previous year, the business earned $3.96 earnings per share. Equities analysts expect that Marathon Petroleum Corporation will post 62.78 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 13.75%.

Insider Activity at Marathon Petroleum

In other news, SVP Shawn M. Lyon sold 2,500 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total value of $875,000.00. Following the completion of the sale, the senior vice president owned 12,619 shares in the company, valued at $4,416,650. This represents a 16.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Molly R. Benson sold 17,196 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $358.57, for a total value of $6,165,969.72. Following the transaction, the insider directly owned 30,334 shares of the company’s stock, valued at $10,876,862.38. This represents a 36.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 21,691 shares of company stock worth $7,780,127 over the last quarter. 0.17% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Marathon Petroleum

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Prospera Capital Management LLC acquired a new position in Marathon Petroleum in the 3rd quarter worth about $257,000. Client 1ST Advisory Group LLC lifted its holdings in shares of Marathon Petroleum by 8.2% during the 3rd quarter. Client 1ST Advisory Group LLC now owns 1,163 shares of the oil and gas company’s stock valued at $460,000 after buying an additional 88 shares during the last quarter. CRA Financial Services LLC lifted its holdings in shares of Marathon Petroleum by 1.2% during the 3rd quarter. CRA Financial Services LLC now owns 1,844 shares of the oil and gas company’s stock valued at $729,000 after buying an additional 21 shares during the last quarter. Robertson Stephens Wealth Management LLC bought a new stake in shares of Marathon Petroleum in the 3rd quarter valued at approximately $210,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in shares of Marathon Petroleum in the 3rd quarter valued at approximately $9,218,000. 76.77% of the stock is currently owned by institutional investors.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE:MPC) is an American downstream energy company engaged in refining, marketing, and transporting petroleum products. Its operations include converting crude oil into gasoline, diesel, jet fuel, asphalt, propane, and other refined products used by transportation, industrial, and commercial customers.

The company markets fuel under the Marathon brand and supplies products to independent marketers, commercial businesses, and other wholesale customers. Marathon Petroleum also owns a general-partner interest and significant limited-partner interest in MPLX Inc, a midstream company that operates pipelines, storage facilities, terminals, and gathering and processing assets supporting the movement of crude oil and natural gas liquids.

Marathon Petroleum’s refining and midstream activities are concentrated in the United States, with assets serving regions across the Midwest, Gulf Coast, and West Coast.