Marathon Petroleum Corporation (NYSE:MPC – Get Free Report) shares dropped 1.8% during mid-day trading on Thursday. The company traded as low as $469.07 and last traded at $476.3890. 2,064,371 shares were traded during mid-day trading, a decline of 17% from the average session volume of 2,482,019 shares. The stock had previously closed at $484.92.
Marathon Petroleum News Summary
Here are the key news stories impacting Marathon Petroleum this week:
- Positive Sentiment: Wells Fargo issued a Buy rating on MPC, adding to the positive analyst sentiment surrounding the refiner. Wells Fargo Issues a Buy Rating on Marathon Petroleum
- Positive Sentiment: Analysts raised their estimated fair value for Marathon Petroleum to approximately $433.44 from $375.50, citing improved refining assumptions and stronger anticipated margins and crack spreads. Marathon Petroleum Stock Gets Fair Value Boost
- Positive Sentiment: Citigroup projected significant potential appreciation for MPC, while a separate report noted the stock reached a new 12-month high following an analyst upgrade. These developments reinforce the bullish view on refining profitability. Citigroup Forecasts Strong Price Appreciation Marathon Petroleum Sets New 12-Month High
- Positive Sentiment: Coverage describes MPC as a potential hedge against diesel-related weakness, with its scale and refining exposure benefiting if industry margins remain firm. Marathon Petroleum: A Solid Hedge Vs. Diesel’s Damage
- Neutral Sentiment: Although MPC and Delek US reported stronger earnings as refining margins improved, analysts favored Delek because of its lower valuation and stronger earnings-estimate revisions. Marathon vs. Delek US
- Negative Sentiment: The stock’s decline while the market advanced highlights near-term relative weakness. Investors may also be questioning whether MPC’s large multiyear gain and current valuation already reflect much of the expected cash-flow and refining-margin improvement. Marathon Petroleum Stock Declines While Market Improves
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of Marathon Petroleum from $400.00 to $560.00 and gave the company an “overweight” rating in a report on Wednesday. Weiss Ratings raised shares of Marathon Petroleum from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Mizuho boosted their target price on shares of Marathon Petroleum from $304.00 to $457.00 and gave the company a “neutral” rating in a research note on Thursday, October 8th. Morgan Stanley raised their price target on shares of Marathon Petroleum from $265.00 to $453.00 and gave the stock an “overweight” rating in a research note on Monday, September 14th. Finally, Bank of America lifted their price objective on shares of Marathon Petroleum from $410.00 to $426.00 and gave the company a “neutral” rating in a report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus target price of $417.88.
Get Our Latest Research Report on Marathon Petroleum
Marathon Petroleum Trading Up 0.3%
The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25. The company’s fifty day simple moving average is $397.65 and its 200-day simple moving average is $308.94. The company has a market capitalization of $139.66 billion, a P/E ratio of 16.44, a PEG ratio of 0.14 and a beta of 0.54.
Marathon Petroleum (NYSE:MPC – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, topping the consensus estimate of $14.27 by $3.46. The firm had revenue of $51.99 billion during 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.96 EPS. Research analysts predict that Marathon Petroleum Corporation will post 62.78 earnings per share for the current year.
Marathon Petroleum Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a yield of 0.8%. Marathon Petroleum’s dividend payout ratio is presently 13.75%.
Insider Transactions at Marathon Petroleum
In other Marathon Petroleum news, VP Erin M. Brzezinski sold 570 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $362.79, for a total value of $206,790.30. Following the completion of the sale, the vice president directly owned 1,576 shares in the company, valued at approximately $571,757.04. This trade represents a 26.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Shawn Lyon sold 1,000 shares of Marathon Petroleum stock in a transaction on Monday, August 31st. The stock was sold at an average price of $375.75, for a total transaction of $375,750.00. Following the sale, the senior vice president owned 11,194 shares of the company’s stock, valued at $4,206,145.50. The trade was a 8.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 21,691 shares of company stock valued at $7,780,127 in the last quarter. 0.17% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Marathon Petroleum
Several hedge funds and other institutional investors have recently bought and sold shares of MPC. BlackRock Inc. acquired a new stake in shares of Marathon Petroleum in the second quarter worth $6,648,958,000. Bank of New York Mellon Corp purchased a new stake in Marathon Petroleum in the second quarter valued at $1,029,611,000. Bank of America Corp DE boosted its holdings in Marathon Petroleum by 1.6% in the first quarter. Bank of America Corp DE now owns 2,595,084 shares of the oil and gas company’s stock valued at $633,668,000 after purchasing an additional 40,124 shares during the last quarter. Amundi boosted its holdings in Marathon Petroleum by 17.5% in the second quarter. Amundi now owns 2,237,930 shares of the oil and gas company’s stock valued at $572,172,000 after purchasing an additional 332,551 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Marathon Petroleum by 16.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,508,489 shares of the oil and gas company’s stock worth $385,675,000 after purchasing an additional 215,686 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.
About Marathon Petroleum
Marathon Petroleum Corporation (NYSE:MPC) is an integrated downstream energy company engaged primarily in refining, marketing and transporting petroleum products. The company converts crude oil and other feedstocks into gasoline, diesel, jet fuel, asphalt, propane and other refined products used by consumers, businesses and industrial customers.
Marathon Petroleum operates refineries and related logistics assets in the United States, with a refining and marketing presence serving markets across the Midwest, Gulf Coast and West Coast.
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