Shares of Marathon Petroleum Corporation (NYSE:MPC) have been assigned a consensus recommendation of “Buy” from the eighteen brokerages that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $58.62.

MPC has been the subject of several analyst reports. Jefferies Group LLC restated a “buy” rating and issued a $61.00 target price on shares of Marathon Petroleum Corporation in a report on Wednesday, April 19th. Citigroup Inc. restated a “buy” rating and issued a $67.00 target price (down from $68.50) on shares of Marathon Petroleum Corporation in a report on Saturday, April 22nd. Scotiabank restated a “hold” rating and issued a $54.00 target price on shares of Marathon Petroleum Corporation in a report on Friday, April 28th. US Capital Advisors restated a “buy” rating on shares of Marathon Petroleum Corporation in a report on Monday, May 22nd. Finally, Piper Jaffray Companies restated an “overweight” rating and issued a $62.00 target price on shares of Marathon Petroleum Corporation in a report on Thursday, May 25th.

In related news, VP C. Michael Palmer sold 4,568 shares of the company’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $52.04, for a total value of $237,718.72. Following the completion of the transaction, the vice president now directly owns 62,325 shares in the company, valued at $3,243,393. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 disclosure for this sale can be found here. Insiders sold 33,568 shares of company stock valued at $1,808,969 over the last 90 days. 1.05% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Marathon Petroleum Corporation by 2,779.4% in the first quarter. BlackRock Inc. now owns 56,121,367 shares of the oil and gas company’s stock worth $2,836,372,000 after buying an additional 54,172,304 shares during the last quarter. Iridian Asset Management LLC CT raised its position in shares of Marathon Petroleum Corporation by 209.4% in the first quarter. Iridian Asset Management LLC CT now owns 7,707,619 shares of the oil and gas company’s stock worth $389,543,000 after buying an additional 5,216,764 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Marathon Petroleum Corporation by 312.4% in the second quarter. Principal Financial Group Inc. now owns 3,947,936 shares of the oil and gas company’s stock worth $206,595,000 after buying an additional 2,990,640 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Marathon Petroleum Corporation by 93.3% in the second quarter. Alliancebernstein L.P. now owns 5,331,521 shares of the oil and gas company’s stock worth $278,998,000 after buying an additional 2,572,727 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Marathon Petroleum Corporation by 8,254.8% in the first quarter. American Century Companies Inc. now owns 2,042,740 shares of the oil and gas company’s stock worth $103,240,000 after buying an additional 2,018,290 shares during the last quarter. Institutional investors and hedge funds own 81.36% of the company’s stock.

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Marathon Petroleum Corporation (NYSE MPC) traded down 0.80% during mid-day trading on Tuesday, hitting $51.89. 3,015,469 shares of the stock were exchanged. The stock has a market cap of $26.27 billion, a price-to-earnings ratio of 30.94 and a beta of 1.56. Marathon Petroleum Corporation has a 52 week low of $39.29 and a 52 week high of $56.81. The company has a 50 day moving average price of $54.16 and a 200 day moving average price of $51.69.

Marathon Petroleum Corporation (NYSE:MPC) last posted its earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by $0.01. Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. The company had revenue of $18.35 billion during the quarter, compared to analyst estimates of $19.98 billion. During the same quarter last year, the firm posted $1.07 earnings per share. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. Analysts expect that Marathon Petroleum Corporation will post $2.74 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Wednesday, August 16th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.08%. This is a positive change from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. The ex-dividend date is Monday, August 14th. Marathon Petroleum Corporation’s dividend payout ratio is presently 81.82%.

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.

Analyst Recommendations for Marathon Petroleum Corporation (NYSE:MPC)

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