Shares of Marathon Petroleum Corporation (NYSE:MPC – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the nineteen analysts that are covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $264.75.
Several equities analysts recently issued reports on MPC shares. Mizuho upped their price objective on Marathon Petroleum from $205.00 to $224.00 and gave the company a “neutral” rating in a research report on Tuesday, March 17th. Bank of America upped their price objective on Marathon Petroleum from $224.00 to $260.00 in a research report on Tuesday. Wall Street Zen raised Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. UBS Group set a $285.00 price objective on Marathon Petroleum in a research report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. upped their price objective on Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th.
Check Out Our Latest Research Report on Marathon Petroleum
Marathon Petroleum Stock Performance
Marathon Petroleum (NYSE:MPC – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.91. The business had revenue of $34.20 billion for the quarter, compared to analysts’ expectations of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.24) EPS. As a group, research analysts forecast that Marathon Petroleum will post 29.67 earnings per share for the current fiscal year.
Marathon Petroleum Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be paid a dividend of $1.00 per share. The ex-dividend date is Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a yield of 1.6%. Marathon Petroleum’s payout ratio is currently 26.11%.
Insiders Place Their Bets
In other Marathon Petroleum news, insider Ricky D. Hessling sold 1,626 shares of the business’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $228.18, for a total transaction of $371,020.68. Following the completion of the sale, the insider directly owned 7,525 shares in the company, valued at approximately $1,717,054.50. The trade was a 17.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 4,473 shares of company stock worth $1,015,428. 0.17% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Marathon Petroleum
Hedge funds have recently added to or reduced their stakes in the stock. Alberta Investment Management Corp purchased a new stake in Marathon Petroleum during the 3rd quarter valued at $2,891,000. Diversified Trust Co. raised its stake in Marathon Petroleum by 39.3% during the 4th quarter. Diversified Trust Co. now owns 15,675 shares of the oil and gas company’s stock valued at $2,549,000 after buying an additional 4,419 shares during the last quarter. First Interstate Bank purchased a new stake in shares of Marathon Petroleum in the 3rd quarter worth $5,050,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Marathon Petroleum in the 3rd quarter worth $1,004,000. Finally, KKM Financial LLC increased its stake in shares of Marathon Petroleum by 27.6% in the 3rd quarter. KKM Financial LLC now owns 26,202 shares of the oil and gas company’s stock worth $5,050,000 after purchasing an additional 5,661 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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