Marathon Petroleum (NYSE:MPC) Sets New 52-Week High – Time to Buy?

Shares of Marathon Petroleum Corporation (NYSE:MPC) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $204.37 and last traded at $202.56, with a volume of 530558 shares trading hands. The stock had previously closed at $195.83.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Raymond James Financial lifted their price target on Marathon Petroleum from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Scotiabank reiterated an “outperform” rating and issued a $174.00 price objective on shares of Marathon Petroleum in a report on Friday, January 16th. Piper Sandler lowered their price target on Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Mizuho raised their price target on Marathon Petroleum from $198.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, January 13th. Finally, TD Cowen upped their target price on shares of Marathon Petroleum from $183.00 to $198.00 and gave the company a “buy” rating in a research note on Wednesday. Ten analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $198.44.

Marathon Petroleum Price Performance

The company’s 50 day moving average price is $177.45 and its 200 day moving average price is $180.91. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.79 and a current ratio of 1.32. The company has a market cap of $60.87 billion, a price-to-earnings ratio of 15.17, a P/E/G ratio of 1.39 and a beta of 0.74.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 EPS for the quarter, beating analysts’ consensus estimates of $3.73 by $0.34. Marathon Petroleum had a net margin of 2.99% and a return on equity of 14.00%. The firm had revenue of $35.10 billion for the quarter, compared to analyst estimates of $30.89 billion. During the same period in the previous year, the business earned $0.77 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. On average, equities research analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 18th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $4.00 dividend on an annualized basis and a yield of 2.0%. Marathon Petroleum’s dividend payout ratio is currently 29.96%.

Institutional Investors Weigh In On Marathon Petroleum

A number of institutional investors have recently made changes to their positions in the stock. Delos Wealth Advisors LLC bought a new stake in Marathon Petroleum in the second quarter valued at approximately $25,000. Activest Wealth Management lifted its position in Marathon Petroleum by 290.2% in the 2nd quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 119 shares in the last quarter. Navalign LLC acquired a new stake in shares of Marathon Petroleum in the 4th quarter valued at about $30,000. Kohmann Bosshard Financial Services LLC acquired a new position in Marathon Petroleum during the 4th quarter worth approximately $31,000. Finally, KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Marathon Petroleum in the third quarter valued at approximately $39,000. 76.77% of the stock is owned by institutional investors and hedge funds.

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.