Marathon Petroleum Corporation (MPC) Receives Average Rating of “Buy” from Analysts
Shares of Marathon Petroleum Corporation (NYSE:MPC) have earned an average recommendation of “Buy” from the twenty ratings firms that are covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $60.36.
Several research analysts recently weighed in on MPC shares. Scotiabank reaffirmed a “hold” rating and set a $55.00 target price on shares of Marathon Petroleum Corporation in a research note on Friday, September 1st. BidaskClub raised Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Jefferies Group LLC reaffirmed a “buy” rating and set a $64.00 target price (down previously from $65.00) on shares of Marathon Petroleum Corporation in a research note on Wednesday, September 6th. Credit Suisse Group reaffirmed a “buy” rating and set a $64.00 target price on shares of Marathon Petroleum Corporation in a research note on Friday, July 14th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $71.00 target price on shares of Marathon Petroleum Corporation in a research note on Thursday, August 31st.
Marathon Petroleum Corporation (NYSE:MPC) traded up 0.21% during midday trading on Wednesday, hitting $56.14. 3,280,719 shares of the company traded hands. The stock has a 50 day moving average of $53.46 and a 200 day moving average of $52.57. The stock has a market cap of $28.42 billion, a P/E ratio of 33.48 and a beta of 1.56. Marathon Petroleum Corporation has a 12-month low of $40.01 and a 12-month high of $56.90.
Marathon Petroleum Corporation (NYSE:MPC) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.01). Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. The business had revenue of $18.35 billion for the quarter, compared to analyst estimates of $19.98 billion. During the same period last year, the business posted $1.07 earnings per share. Marathon Petroleum Corporation’s revenue for the quarter was up 9.3% on a year-over-year basis. Equities research analysts predict that Marathon Petroleum Corporation will post $2.99 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Wednesday, August 16th were given a $0.40 dividend. This is a positive change from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. The ex-dividend date was Monday, August 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.85%. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is 90.91%.
In related news, VP C. Michael Palmer sold 11,450 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $53.02, for a total value of $607,079.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.05% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in MPC. Blue Chip Partners Inc. acquired a new stake in Marathon Petroleum Corporation during the 2nd quarter worth about $100,000. Guardian Life Insurance Co. of America boosted its position in Marathon Petroleum Corporation by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 2,036 shares of the oil and gas company’s stock worth $103,000 after acquiring an additional 14 shares during the period. Lee Financial Co boosted its position in Marathon Petroleum Corporation by 2.4% during the 2nd quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock worth $107,000 after acquiring an additional 48 shares during the period. Jacobi Capital Management LLC boosted its position in Marathon Petroleum Corporation by 32.2% during the 1st quarter. Jacobi Capital Management LLC now owns 2,340 shares of the oil and gas company’s stock worth $116,000 after acquiring an additional 570 shares during the period. Finally, First Interstate Bank boosted its position in Marathon Petroleum Corporation by 81.1% during the 2nd quarter. First Interstate Bank now owns 2,376 shares of the oil and gas company’s stock worth $124,000 after acquiring an additional 1,064 shares during the period. Hedge funds and other institutional investors own 78.25% of the company’s stock.
About Marathon Petroleum Corporation
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.
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