Marathon Petroleum Corporation (MPC) Downgraded to “Buy” at BidaskClub

BidaskClub downgraded shares of Marathon Petroleum Corporation (NYSE:MPC) from a strong-buy rating to a buy rating in a research report sent to investors on Wednesday, August 9th.

Several other equities research analysts have also commented on MPC. Zacks Investment Research upgraded shares of Marathon Petroleum Corporation from a sell rating to a hold rating in a report on Monday, August 7th. Jefferies Group LLC restated a buy rating and issued a $54.83 price target (down previously from $65.00) on shares of Marathon Petroleum Corporation in a report on Thursday, July 20th. Cowen and Company boosted their price target on shares of Marathon Petroleum Corporation from $55.00 to $60.00 and gave the company an outperform rating in a report on Thursday, July 27th. US Capital Advisors restated a buy rating on shares of Marathon Petroleum Corporation in a report on Monday, May 22nd. Finally, Piper Jaffray Companies reaffirmed an overweight rating and issued a $62.00 price objective on shares of Marathon Petroleum Corporation in a research report on Thursday, May 25th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $58.62.

Shares of Marathon Petroleum Corporation (MPC) traded up 0.82% during mid-day trading on Wednesday, hitting $50.11. The stock had a trading volume of 3,661,324 shares. The company has a market cap of $25.37 billion, a P/E ratio of 29.88 and a beta of 1.56. The firm’s 50 day moving average price is $54.03 and its 200 day moving average price is $51.70. Marathon Petroleum Corporation has a 1-year low of $39.29 and a 1-year high of $56.81.

Marathon Petroleum Corporation (NYSE:MPC) last posted its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.03 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $19.98 billion. During the same quarter in the prior year, the firm posted $1.07 EPS. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. Analysts predict that Marathon Petroleum Corporation will post $2.75 earnings per share for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.19%. The ex-dividend date is Monday, August 14th. This is an increase from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. Marathon Petroleum Corporation’s payout ratio is currently 90.91%.

In other news, insider Thomas M. Kelley sold 25,000 shares of the company’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $54.33, for a total value of $1,358,250.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP C. Michael Palmer sold 4,000 shares of the company’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $53.25, for a total transaction of $213,000.00. Following the completion of the sale, the vice president now directly owns 61,757 shares in the company, valued at $3,288,560.25. The disclosure for this sale can be found here. 1.05% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Cullinan Associates Inc. increased its stake in Marathon Petroleum Corporation by 0.9% in the first quarter. Cullinan Associates Inc. now owns 129,810 shares of the oil and gas company’s stock valued at $6,561,000 after buying an additional 1,182 shares during the period. Blockhouse Capital Management LP acquired a new stake in Marathon Petroleum Corporation during the first quarter valued at approximately $14,970,000. Hartford Investment Management Co. increased its stake in Marathon Petroleum Corporation by 13.2% in the first quarter. Hartford Investment Management Co. now owns 147,217 shares of the oil and gas company’s stock valued at $7,440,000 after buying an additional 17,182 shares during the period. Buckingham Asset Management LLC increased its stake in Marathon Petroleum Corporation by 2.1% in the first quarter. Buckingham Asset Management LLC now owns 4,141 shares of the oil and gas company’s stock valued at $209,000 after buying an additional 87 shares during the period. Finally, Fox Run Management L.L.C. increased its stake in Marathon Petroleum Corporation by 143.6% in the second quarter. Fox Run Management L.L.C. now owns 26,800 shares of the oil and gas company’s stock valued at $1,402,000 after buying an additional 15,800 shares during the period. 81.36% of the stock is currently owned by institutional investors and hedge funds.

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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