Marathon Petroleum (MPC) Reaches New 52-Week High at $65.22

Shares of Marathon Petroleum Corporation (NYSE:MPC) reached a new 52-week high on Tuesday . The stock traded as high as $65.22 and last traded at $65.17, with a volume of 2173465 shares trading hands. The stock had previously closed at $63.30.

A number of research firms recently weighed in on MPC. UBS cut shares of Marathon Petroleum from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $63.00 to $65.00 in a research report on Wednesday, November 15th. Zacks Investment Research cut shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Wednesday, November 22nd. Cowen reaffirmed a “buy” rating on shares of Marathon Petroleum in a research report on Tuesday, November 14th. Barclays increased their price objective on shares of Marathon Petroleum from $63.00 to $76.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 14th. Finally, Citigroup increased their price objective on shares of Marathon Petroleum from $67.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $65.54.

The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.80 and a current ratio of 1.52. The stock has a market cap of $30,916.49, a PE ratio of 19.24, a P/E/G ratio of 1.52 and a beta of 1.61.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Thursday, October 26th. The oil and gas company reported $1.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.48 by $0.29. Marathon Petroleum had a net margin of 2.35% and a return on equity of 8.52%. The company had revenue of $19.36 billion during the quarter, compared to analysts’ expectations of $19.38 billion. During the same quarter last year, the company posted $0.58 EPS. The firm’s revenue was up 17.6% compared to the same quarter last year. equities analysts anticipate that Marathon Petroleum Corporation will post 3.8 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Thursday, November 16th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, November 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.52%. Marathon Petroleum’s payout ratio is 49.08%.

In related news, VP C. Michael Palmer sold 11,450 shares of Marathon Petroleum 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Anthony R. Kenney sold 77,578 shares of Marathon Petroleum stock in a transaction on Monday, November 6th. The stock was sold at an average price of $62.35, for a total transaction of $4,836,988.30. The disclosure for this sale can be found here. Insiders sold a total of 102,028 shares of company stock worth $6,253,447 over the last 90 days. Company insiders own 1.05% of the company’s stock.

A number of large investors have recently made changes to their positions in MPC. Good Life Advisors LLC increased its stake in Marathon Petroleum by 0.5% in the second quarter. Good Life Advisors LLC now owns 6,708 shares of the oil and gas company’s stock valued at $363,000 after purchasing an additional 35 shares during the period. Parallel Advisors LLC increased its stake in Marathon Petroleum by 0.6% in the second quarter. Parallel Advisors LLC now owns 6,339 shares of the oil and gas company’s stock valued at $355,000 after purchasing an additional 36 shares during the period. Synovus Financial Corp increased its stake in Marathon Petroleum by 0.4% in the second quarter. Synovus Financial Corp now owns 19,967 shares of the oil and gas company’s stock valued at $1,043,000 after purchasing an additional 79 shares during the period. Bronfman E.L. Rothschild L.P. increased its stake in Marathon Petroleum by 2.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,700 shares of the oil and gas company’s stock valued at $194,000 after purchasing an additional 103 shares during the period. Finally, Pacer Advisors Inc. increased its stake in Marathon Petroleum by 1.1% in the second quarter. Pacer Advisors Inc. now owns 11,180 shares of the oil and gas company’s stock valued at $585,000 after purchasing an additional 117 shares during the period. Hedge funds and other institutional investors own 80.83% of the company’s stock.

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About Marathon Petroleum

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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