Shares of Marathon Petroleum Co. (NYSE:MPC – Get Free Report) traded up 0.7% on Monday . The stock traded as high as $174.55 and last traded at $173.96. 237,440 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 2,726,635 shares. The stock had previously closed at $172.67.
Analysts Set New Price Targets
Several research firms recently issued reports on MPC. Wells Fargo & Company dropped their price target on shares of Marathon Petroleum from $227.00 to $223.00 and set an “overweight” rating on the stock in a research note on Thursday, June 6th. Piper Sandler cut their price target on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a research note on Friday, June 14th. Tudor Pickering upgraded Marathon Petroleum to a “strong-buy” rating in a research note on Thursday, May 30th. Raymond James cut their target price on Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating on the stock in a research report on Thursday, May 30th. Finally, The Goldman Sachs Group raised their price target on shares of Marathon Petroleum from $175.00 to $211.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $192.08.
Marathon Petroleum Stock Up 0.8 %
The stock has a market cap of $61.30 billion, a P/E ratio of 8.69, a PEG ratio of 1.55 and a beta of 1.45. The stock’s fifty day simple moving average is $181.41 and its 200-day simple moving average is $174.90. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 0.99.
Marathon Petroleum (NYSE:MPC – Get Free Report) last released its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.25. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The business had revenue of $32.71 billion during the quarter, compared to analyst estimates of $32.07 billion. During the same quarter in the previous year, the firm posted $6.09 EPS. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, research analysts anticipate that Marathon Petroleum Co. will post 18.65 earnings per share for the current year.
Marathon Petroleum Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Wednesday, May 15th. Marathon Petroleum’s payout ratio is 16.48%.
Marathon Petroleum announced that its Board of Directors has approved a stock repurchase plan on Tuesday, April 30th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire up to 7.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
Hedge Funds Weigh In On Marathon Petroleum
Several hedge funds and other institutional investors have recently made changes to their positions in the business. FinTrust Capital Advisors LLC boosted its position in Marathon Petroleum by 400.0% during the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 100 shares during the period. Crewe Advisors LLC acquired a new stake in Marathon Petroleum in the first quarter worth about $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Marathon Petroleum in the 4th quarter valued at about $25,000. ICA Group Wealth Management LLC acquired a new position in Marathon Petroleum during the 4th quarter valued at about $30,000. Finally, Wellington Shields & Co. LLC bought a new stake in shares of Marathon Petroleum during the 1st quarter worth about $40,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.
Marathon Petroleum Company Profile
Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.