Jefferies Group Downgrades Marathon Petroleum (MPC) to Hold

Jefferies Group lowered shares of Marathon Petroleum (NYSE:MPC) from a buy rating to a hold rating in a research note released on Monday morning, Marketbeat Ratings reports. They currently have $70.00 price target on the oil and gas company’s stock. Jefferies Group also issued estimates for Marathon Petroleum’s Q1 2018 earnings at $0.30 EPS, Q2 2018 earnings at $1.39 EPS, Q3 2018 earnings at $1.40 EPS, Q4 2018 earnings at $0.04 EPS, FY2018 earnings at $3.11 EPS, Q1 2019 earnings at ($0.13) EPS, Q2 2019 earnings at $1.36 EPS, Q3 2019 earnings at $1.29 EPS, Q4 2019 earnings at $0.06 EPS, FY2019 earnings at $2.57 EPS, FY2020 earnings at $2.51 EPS, FY2021 earnings at $2.13 EPS and FY2022 earnings at $1.81 EPS.

Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Marathon Petroleum from a hold rating to a buy rating and set a $63.00 price objective for the company in a report on Monday, October 16th. Cowen reaffirmed a buy rating on shares of Marathon Petroleum in a report on Tuesday, November 14th. Citigroup upped their price objective on shares of Marathon Petroleum from $67.00 to $69.00 and gave the stock a buy rating in a report on Wednesday, October 18th. Royal Bank of Canada reaffirmed a buy rating and issued a $89.00 price objective on shares of Marathon Petroleum in a report on Tuesday, January 30th. Finally, Scotiabank reaffirmed a hold rating and issued a $75.00 price objective on shares of Marathon Petroleum in a report on Wednesday, January 10th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $74.08.

Marathon Petroleum (MPC) opened at $65.09 on Monday. Marathon Petroleum has a 1-year low of $47.39 and a 1-year high of $73.53. The stock has a market cap of $31,790.00, a price-to-earnings ratio of 20.34, a PEG ratio of 0.92 and a beta of 1.50. The company has a current ratio of 1.52, a quick ratio of 0.80 and a debt-to-equity ratio of 0.64.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Thursday, February 1st. The oil and gas company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.05. The business had revenue of $21.24 billion during the quarter, compared to the consensus estimate of $17.27 billion. Marathon Petroleum had a net margin of 4.60% and a return on equity of 10.04%. The company’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.43 earnings per share. sell-side analysts expect that Marathon Petroleum will post 4.91 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Wednesday, February 21st will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.83%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, February 20th. Marathon Petroleum’s dividend payout ratio is presently 50.00%.

In other Marathon Petroleum news, VP Rodney P. Nichols sold 6,374 shares of the company’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $64.93, for a total value of $413,863.82. Following the completion of the sale, the vice president now directly owns 74,674 shares of the company’s stock, valued at approximately $4,848,582.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP C. Michael Palmer sold 17,298 shares of the company’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $64.55, for a total transaction of $1,116,585.90. The disclosure for this sale can be found here. Insiders sold a total of 72,276 shares of company stock valued at $4,645,189 over the last three months. 1.05% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Cerebellum GP LLC acquired a new stake in Marathon Petroleum in the 4th quarter valued at about $121,000. Crow Point Partners LLC acquired a new stake in Marathon Petroleum in the 3rd quarter valued at about $128,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Marathon Petroleum in the 3rd quarter valued at about $135,000. BB&T Investment Services Inc. lifted its holdings in Marathon Petroleum by 118.2% in the 3rd quarter. BB&T Investment Services Inc. now owns 3,063 shares of the oil and gas company’s stock valued at $178,000 after acquiring an additional 1,659 shares during the last quarter. Finally, Cable Hill Partners LLC lifted its holdings in Marathon Petroleum by 886.1% in the 3rd quarter. Cable Hill Partners LLC now owns 3,254 shares of the oil and gas company’s stock valued at $182,000 after acquiring an additional 2,924 shares during the last quarter. 80.78% of the stock is owned by institutional investors.

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Marathon Petroleum Company Profile

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.

Analyst Recommendations for Marathon Petroleum (NYSE:MPC)

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