Marathon Petroleum (NYSE:MPC) Hits New 1-Year High on Analyst Upgrade

Marathon Petroleum Corporation (NYSE:MPC) reached a new 52-week high during trading on Monday after Scotiabank upgraded the stock to a strong-buy rating. The stock traded as high as $254.92 and last traded at $254.9420, with a volume of 49861 shares changing hands. The stock had previously closed at $251.91.

Other equities analysts have also recently issued research reports about the stock. Barclays cut their target price on shares of Marathon Petroleum from $202.00 to $194.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. Wall Street Zen upgraded Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Saturday. BMO Capital Markets raised their price target on Marathon Petroleum from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. Raymond James Financial boosted their price objective on Marathon Petroleum from $210.00 to $270.00 and gave the company an “outperform” rating in a research report on Wednesday, March 25th. Finally, Piper Sandler lowered their price objective on Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.19.

Insider Buying and Selling

In other Marathon Petroleum news, insider Ricky D. Hessling sold 1,810 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $224.78, for a total value of $406,851.80. Following the sale, the insider owned 10,188 shares in the company, valued at approximately $2,290,058.64. This trade represents a 15.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have sold 4,473 shares of company stock valued at $1,015,428. 0.17% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Marathon Petroleum

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV raised its stake in Marathon Petroleum by 2.6% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 2,050 shares of the oil and gas company’s stock valued at $333,000 after acquiring an additional 51 shares in the last quarter. IFG Advisory LLC grew its stake in shares of Marathon Petroleum by 1.5% in the fourth quarter. IFG Advisory LLC now owns 3,429 shares of the oil and gas company’s stock worth $558,000 after purchasing an additional 51 shares in the last quarter. Associated Banc Corp increased its holdings in shares of Marathon Petroleum by 2.1% during the third quarter. Associated Banc Corp now owns 2,475 shares of the oil and gas company’s stock valued at $477,000 after purchasing an additional 52 shares during the period. Eagle Bluffs Wealth Management LLC increased its holdings in shares of Marathon Petroleum by 1.2% during the fourth quarter. Eagle Bluffs Wealth Management LLC now owns 4,357 shares of the oil and gas company’s stock valued at $709,000 after purchasing an additional 52 shares during the period. Finally, Auxano Advisors LLC raised its stake in shares of Marathon Petroleum by 2.1% during the fourth quarter. Auxano Advisors LLC now owns 2,630 shares of the oil and gas company’s stock valued at $428,000 after purchasing an additional 55 shares in the last quarter. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Stock Down 0.4%

The firm has a market cap of $71.90 billion, a price-to-earnings ratio of 18.29, a P/E/G ratio of 0.50 and a beta of 0.69. The firm’s fifty day moving average is $208.46 and its two-hundred day moving average is $193.32. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.26 and a quick ratio of 0.74.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 EPS for the quarter, beating the consensus estimate of $3.73 by $0.34. Marathon Petroleum had a net margin of 2.99% and a return on equity of 13.90%. The firm had revenue of $32.57 billion for the quarter, compared to analysts’ expectations of $30.89 billion. During the same quarter last year, the company earned $0.77 EPS. Marathon Petroleum’s quarterly revenue was down .1% on a year-over-year basis. On average, sell-side analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Wednesday, February 18th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Wednesday, February 18th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 29.96%.

Marathon Petroleum Company Profile

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.