Marathon Petroleum Corporation (MPC) Receives Consensus Rating of “Buy” from Brokerages
Marathon Petroleum Corporation (NYSE:MPC) has been assigned an average recommendation of “Buy” from the twenty brokerages that are presently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $59.17.
A number of equities analysts have issued reports on MPC shares. Zacks Investment Research downgraded Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Bank of America Corporation downgraded Marathon Petroleum Corporation from a “buy” rating to a “neutral” rating in a report on Tuesday. Scotiabank set a $55.00 price objective on Marathon Petroleum Corporation and gave the stock a “hold” rating in a report on Tuesday, July 11th. Royal Bank Of Canada reiterated a “buy” rating and issued a $69.00 price objective on shares of Marathon Petroleum Corporation in a report on Thursday, June 1st. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $64.00 price objective on shares of Marathon Petroleum Corporation in a report on Friday, July 14th.
Shares of Marathon Petroleum Corporation (MPC) traded up 1.50% during mid-day trading on Friday, reaching $53.42. 4,656,368 shares of the company’s stock were exchanged. Marathon Petroleum Corporation has a one year low of $39.29 and a one year high of $56.81. The stock has a 50-day moving average of $53.18 and a 200 day moving average of $51.96. The firm has a market capitalization of $27.04 billion, a P/E ratio of 31.85 and a beta of 1.56.
Marathon Petroleum Corporation (NYSE:MPC) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by $0.01. The firm had revenue of $18.35 billion during the quarter, compared to the consensus estimate of $19.98 billion. Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. Marathon Petroleum Corporation’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.07 EPS. On average, analysts forecast that Marathon Petroleum Corporation will post $2.83 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, August 14th. This is an increase from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a dividend yield of 3.00%. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is presently 90.91%.
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In related news, insider Thomas M. Kelley sold 25,000 shares of Marathon Petroleum Corporation stock in a transaction dated Wednesday, June 14th. The stock was 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 1.05% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blockhouse Capital Management LP bought a new stake in Marathon Petroleum Corporation in the 1st quarter worth about $14,970,000. Fox Run Management L.L.C. increased its holdings in Marathon Petroleum Corporation by 143.6% in the 2nd quarter. Fox Run Management L.L.C. now owns 26,800 shares of the oil and gas company’s stock worth $1,402,000 after buying an additional 15,800 shares in the last quarter. Heritage Way Advisors LLC increased its holdings in Marathon Petroleum Corporation by 2.4% in the 2nd quarter. Heritage Way Advisors LLC now owns 36,975 shares of the oil and gas company’s stock worth $1,935,000 after buying an additional 850 shares in the last quarter. Buckingham Asset Management LLC increased its holdings in Marathon Petroleum Corporation by 2.1% in the 1st quarter. Buckingham Asset Management LLC now owns 4,141 shares of the oil and gas company’s stock worth $209,000 after buying an additional 87 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in Marathon Petroleum Corporation by 1.2% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,119,312 shares of the oil and gas company’s stock worth $56,570,000 after buying an additional 12,792 shares in the last quarter. Institutional investors own 78.85% of the company’s stock.
Marathon Petroleum Corporation 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.
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