Marathon Petroleum Corporation (NYSE:MPC – Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $362.49 and last traded at $361.3390, with a volume of 117928 shares changing hands. The stock had previously closed at $355.42.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on the company. Bank of America increased their target price on Marathon Petroleum from $224.00 to $260.00 in a report on Tuesday, May 26th. Wall Street Zen upgraded shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. UBS Group restated a “buy” rating and set a $321.00 price objective on shares of Marathon Petroleum in a report on Friday, July 10th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Marathon Petroleum in a research note on Friday, June 12th. Finally, Citigroup lifted their price objective on shares of Marathon Petroleum from $303.00 to $318.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Marathon Petroleum has an average rating of “Moderate Buy” and an average target price of $312.50.
Read Our Latest Stock Analysis on Marathon Petroleum
Marathon Petroleum Stock Up 1.9%
Marathon Petroleum (NYSE:MPC – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The firm had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. During the same quarter in the prior year, the company earned $3.96 EPS. The business’s revenue for the quarter was up 53.5% on a year-over-year basis. On average, research analysts anticipate that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.
Marathon Petroleum Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a dividend of $1.00 per share. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 annualized dividend and a yield of 1.1%. Marathon Petroleum’s dividend payout ratio is presently 13.75%.
Insider Transactions at Marathon Petroleum
In related news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the sale, the vice president owned 16,900 shares in the company, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.17% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its stake in shares of Marathon Petroleum by 30.9% during the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock worth $696,000 after acquiring an additional 1,178 shares during the period. Woodline Partners LP lifted its holdings in Marathon Petroleum by 38.3% during the first quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company’s stock valued at $3,889,000 after purchasing an additional 7,396 shares during the last quarter. Sivia Capital Partners LLC boosted its position in Marathon Petroleum by 26.6% during the second quarter. Sivia Capital Partners LLC now owns 2,221 shares of the oil and gas company’s stock worth $369,000 after purchasing an additional 466 shares during the period. Marshall Wace LLP bought a new position in Marathon Petroleum during the second quarter worth about $8,505,000. Finally, AXA S.A. increased its stake in shares of Marathon Petroleum by 46.7% in the second quarter. AXA S.A. now owns 39,675 shares of the oil and gas company’s stock worth $6,590,000 after purchasing an additional 12,639 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.
About Marathon Petroleum
Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.
Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.
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