Marathon Petroleum Co. (MPC) To Go Ex-Dividend on May 21st

Marathon Petroleum Co. (NYSE:MPC) announced a quarterly dividend on Wednesday, April 30th, RTT News reports. Investors of record on Wednesday, May 21st will be paid a dividend of 0.91 per share by the oil and gas company on Tuesday, June 10th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Wednesday, May 21st.

Marathon Petroleum has raised its dividend by an average of 13.4% per year over the last three years and has increased its dividend every year for the last 3 years. Marathon Petroleum has a dividend payout ratio of 31.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Marathon Petroleum to earn $11.56 per share next year, which means the company should continue to be able to cover its $3.64 annual dividend with an expected future payout ratio of 31.5%.

Marathon Petroleum Stock Down 0.7%

Shares of NYSE MPC opened at $164.07 on Monday. Marathon Petroleum has a 52-week low of $115.10 and a 52-week high of $183.31. The business has a 50-day moving average price of $139.76 and a 200 day moving average price of $145.57. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The stock has a market cap of $50.40 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 3.11 and a beta of 0.87.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The company had revenue of $31.85 billion during the quarter, compared to analysts’ expectations of $28.91 billion. During the same period last year, the firm earned $2.58 EPS. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. Equities research analysts forecast that Marathon Petroleum will post 8.47 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the company. Morgan Stanley reduced their price target on Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Raymond James reduced their price target on Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 9th. TD Cowen raised their price objective on Marathon Petroleum from $142.00 to $152.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Barclays raised their price objective on Marathon Petroleum from $141.00 to $159.00 and gave the company an “overweight” rating in a research note on Monday, May 12th. Finally, Tudor Pickering raised Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $175.29.

Insider Transactions at Marathon Petroleum

In other news, insider Ricky D. Hessling acquired 2,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $134.72 per share, with a total value of $269,440.00. Following the completion of the acquisition, the insider now directly owns 12,162 shares in the company, valued at $1,638,464.64. This represents a 19.68% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Evan Bayh acquired 1,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average cost of $133.70 per share, with a total value of $133,700.00. Following the completion of the acquisition, the director now owns 69,305 shares of the company’s stock, valued at $9,266,078.50. The trade was a 1.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.21% of the company’s stock.

Institutional Trading of Marathon Petroleum

An institutional investor recently raised its position in Marathon Petroleum stock. Brighton Jones LLC grew its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 30.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,988 shares of the oil and gas company’s stock after purchasing an additional 1,178 shares during the quarter. Brighton Jones LLC’s holdings in Marathon Petroleum were worth $696,000 as of its most recent SEC filing. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Company Profile

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.