Shares of Marathon Petroleum Corporation (NYSE:MPC) have been assigned a consensus rating of “Buy” from the nineteen ratings firms that are presently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $61.62.
Several research firms have recently commented on MPC. Citigroup Inc. boosted their target price on shares of Marathon Petroleum Corporation from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, October 18th. Cowen and Company reissued a “buy” rating and issued a $60.00 target price on shares of Marathon Petroleum Corporation in a report on Tuesday, October 17th. Zacks Investment Research downgraded shares of Marathon Petroleum Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Barclays PLC reissued an “overweight” rating and issued a $63.00 target price (up previously from $62.00) on shares of Marathon Petroleum Corporation in a report on Tuesday, October 10th. Finally, Edward Jones raised shares of Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a report on Friday, October 6th.
In related news, VP C. Michael Palmer sold 11,450 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $53.02, for a total transaction of $607,079.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.05% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of MPC. CGOV Asset Management increased its position in Marathon Petroleum Corporation by 30.0% during the first quarter. CGOV Asset Management now owns 13,000 shares of the oil and gas company’s stock valued at $875,000 after acquiring an additional 3,000 shares during the last quarter. Teachers Advisors LLC increased its position in Marathon Petroleum Corporation by 17.4% during the first quarter. Teachers Advisors LLC now owns 1,412,960 shares of the oil and gas company’s stock valued at $71,411,000 after acquiring an additional 209,446 shares during the last quarter. QUANTRES ASSET MANAGEMENT Ltd bought a new position in Marathon Petroleum Corporation during the first quarter valued at $1,435,000. Legal & General Group Plc increased its position in Marathon Petroleum Corporation by 1.5% during the first quarter. Legal & General Group Plc now owns 3,019,923 shares of the oil and gas company’s stock valued at $152,623,000 after acquiring an additional 45,538 shares during the last quarter. Finally, Ngam Advisors L.P. increased its position in Marathon Petroleum Corporation by 12.3% during the first quarter. Ngam Advisors L.P. now owns 155,902 shares of the oil and gas company’s stock valued at $7,879,000 after acquiring an additional 17,042 shares during the last quarter. Institutional investors and hedge funds own 78.24% of the company’s stock.
Marathon Petroleum Corporation (NYSE MPC) traded up 2.10% during mid-day trading on Friday, reaching $58.47. 4,159,870 shares of the company’s stock traded hands. The stock has a 50 day moving average of $55.55 and a 200 day moving average of $53.32. The company has a market cap of $29.60 billion, a P/E ratio of 34.87 and a beta of 1.56. Marathon Petroleum Corporation has a 12-month low of $40.01 and a 12-month high of $58.93.
Marathon Petroleum Corporation (NYSE:MPC) last issued its quarterly earnings results on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.29. Marathon Petroleum Corporation had a net margin of 2.35% and a return on equity of 8.51%. The business had revenue of $19.36 billion for the quarter, compared to the consensus estimate of $19.38 billion. During the same quarter in the previous year, the firm earned $0.58 earnings per share. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. On average, equities research analysts predict that Marathon Petroleum Corporation will post $3.35 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Thursday, November 16th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Wednesday, November 15th. Marathon Petroleum Corporation’s payout ratio is 49.08%.
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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