Marathon Petroleum Corporation (MPC) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Marathon Petroleum Corporation (NYSE:MPC) have been assigned a consensus recommendation of “Buy” from the nineteen research firms that are covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $60.36.
MPC has been the topic of a number of research analyst reports. BidaskClub lowered shares of Marathon Petroleum Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Scotiabank set a $55.00 target price on shares of Marathon Petroleum Corporation and gave the company a “hold” rating in a research note on Tuesday, July 11th. Credit Suisse Group reiterated a “buy” rating and issued a $64.00 target price on shares of Marathon Petroleum Corporation in a research note on Friday, July 14th. Zacks Investment Research lowered shares of Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $54.83 target price (down from $65.00) on shares of Marathon Petroleum Corporation in a research note on Thursday, July 20th.
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Shares of Marathon Petroleum Corporation (MPC) traded up 0.30% during trading on Wednesday, reaching $56.31. 2,804,565 shares of the company’s stock were exchanged. The company has a 50 day moving average of $53.01 and a 200 day moving average of $52.48. Marathon Petroleum Corporation has a 52-week low of $40.01 and a 52-week high of $56.81. The firm has a market capitalization of $28.51 billion, a P/E ratio of 33.58 and a beta of 1.56.
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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.01). Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. The firm had revenue of $18.35 billion during the quarter, compared to analyst estimates of $19.98 billion. During the same quarter in the previous year, the business posted $1.07 earnings per share. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. Equities analysts anticipate that Marathon Petroleum Corporation will post $2.98 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.84%. This is an increase from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. The ex-dividend date was Monday, August 14th. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is presently 90.91%.
In other news, VP C. Michael Palmer sold 11,450 shares of the firm’s stock in a transaction dated 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 Securities & Exchange Commission, which is available through this hyperlink. 1.05% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in MPC. BlackRock Inc. lifted its holdings in shares of Marathon Petroleum Corporation by 2,779.4% during the 1st quarter. BlackRock Inc. now owns 56,121,367 shares of the oil and gas company’s stock worth $2,836,372,000 after acquiring an additional 54,172,304 shares during the period. Iridian Asset Management LLC CT lifted its holdings in shares of Marathon Petroleum Corporation by 209.4% during the 1st 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 acquiring an additional 5,216,764 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Marathon Petroleum Corporation by 312.4% during the 2nd quarter. Principal Financial Group Inc. now owns 3,947,936 shares of the oil and gas company’s stock worth $206,595,000 after acquiring an additional 2,990,640 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Marathon Petroleum Corporation by 93.3% during the 2nd quarter. Alliancebernstein L.P. now owns 5,331,521 shares of the oil and gas company’s stock worth $278,998,000 after acquiring an additional 2,572,727 shares during the period. Finally, FMR LLC lifted its holdings in shares of Marathon Petroleum Corporation by 109.5% during the 1st quarter. FMR LLC now owns 3,685,652 shares of the oil and gas company’s stock worth $186,273,000 after acquiring an additional 1,926,573 shares during the period. 78.25% of the stock is owned by institutional investors.
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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