Marathon Petroleum Corp (NYSE:MPC) shares traded up 5.5% on Wednesday . The company traded as high as $54.28 and last traded at $54.21. 9,053,465 shares were traded during trading, an increase of 30% from the average session volume of 6,960,780 shares. The stock had previously closed at $51.39.
A number of equities research analysts have recently weighed in on the stock. ValuEngine raised shares of Marathon Petroleum from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 22nd. Zacks Investment Research lowered shares of Marathon Petroleum from a “hold” rating to a “strong sell” rating in a research note on Friday, May 17th. Morgan Stanley cut their target price on shares of Marathon Petroleum from $82.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, May 17th. Credit Suisse Group cut their target price on shares of Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, May 13th. Finally, Cowen lowered shares of Marathon Petroleum from an “outperform” rating to a “market perform” rating and cut their target price for the company from $90.00 to $65.00 in a research note on Friday, May 10th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Marathon Petroleum has a consensus rating of “Buy” and a consensus price target of $85.68.
The company has a current ratio of 1.20, a quick ratio of 0.55 and a debt-to-equity ratio of 0.69. The stock has a 50 day moving average price of $50.07. The firm has a market capitalization of $34.19 billion, a price-to-earnings ratio of 8.00, a P/E/G ratio of 1.31 and a beta of 1.52.
Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Wednesday, May 8th. The oil and gas company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.10). Marathon Petroleum had a return on equity of 11.10% and a net margin of 2.56%. The business had revenue of $28.62 billion for the quarter, compared to the consensus estimate of $27.70 billion. During the same period in the previous year, the firm earned $0.08 EPS. The company’s revenue was up 50.7% on a year-over-year basis. As a group, equities analysts anticipate that Marathon Petroleum Corp will post 4.59 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 3.91%. The ex-dividend date was Wednesday, May 15th. Marathon Petroleum’s payout ratio is currently 31.27%.
In other news, insider Donald C. Templin bought 5,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were purchased at an average price of $50.74 per share, for a total transaction of $253,700.00. Following the completion of the purchase, the insider now owns 93,182 shares in the company, valued at approximately $4,728,054.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James E. Rohr bought 12,500 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was purchased at an average price of $48.14 per share, for a total transaction of $601,750.00. The disclosure for this purchase can be found here. Insiders own 1.06% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Horizon Investments LLC bought a new position in shares of Marathon Petroleum in the first quarter worth approximately $3,206,000. M Holdings Securities Inc. lifted its stake in shares of Marathon Petroleum by 23.4% in the first quarter. M Holdings Securities Inc. now owns 11,368 shares of the oil and gas company’s stock worth $680,000 after buying an additional 2,154 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Marathon Petroleum by 13.9% during the first quarter. Nordea Investment Management AB now owns 352,470 shares of the oil and gas company’s stock valued at $21,096,000 after purchasing an additional 42,946 shares during the last quarter. EP Wealth Advisors LLC raised its holdings in shares of Marathon Petroleum by 6.4% during the first quarter. EP Wealth Advisors LLC now owns 157,639 shares of the oil and gas company’s stock valued at $9,435,000 after purchasing an additional 9,534 shares during the last quarter. Finally, Allstate Corp raised its holdings in shares of Marathon Petroleum by 3.5% during the first quarter. Allstate Corp now owns 64,554 shares of the oil and gas company’s stock valued at $3,864,000 after purchasing an additional 2,197 shares during the last quarter. Hedge funds and other institutional investors own 77.44% of the company’s stock.
About Marathon Petroleum (NYSE:MPC)
Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.
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