Marathon Petroleum Co. (NYSE:MPC – Get Free Report) traded down 7.9% during trading on Tuesday . The stock traded as low as $159.24 and last traded at $159.54. 856,896 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 2,685,015 shares. The stock had previously closed at $173.27.
Wall Street Analysts Forecast Growth
MPC has been the topic of several research analyst reports. Piper Sandler lowered their target price on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Barclays lowered their price objective on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating on the stock in a research report on Monday, July 1st. Jefferies Financial Group lifted their target price on shares of Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. JPMorgan Chase & Co. decreased their target price on shares of Marathon Petroleum from $186.00 to $172.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. Finally, Wolfe Research initiated coverage on Marathon Petroleum in a research note on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus target price of $196.14.
Marathon Petroleum Stock Down 7.6 %
The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31. The company’s fifty day moving average is $169.71 and its 200-day moving average is $178.07. The company has a market capitalization of $56.38 billion, a PE ratio of 7.99, a price-to-earnings-growth ratio of 2.59 and a beta of 1.37.
Marathon Petroleum (NYSE:MPC – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. The business had revenue of $38.36 billion for the quarter, compared to analysts’ expectations of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. During the same period last year, the firm earned $5.32 earnings per share. The business’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, analysts predict that Marathon Petroleum Co. will post 10.56 EPS for the current fiscal year.
Marathon Petroleum Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were paid a $0.825 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $3.30 annualized dividend and a yield of 2.06%. Marathon Petroleum’s payout ratio is 16.48%.
Hedge Funds Weigh In On Marathon Petroleum
Several institutional investors have recently bought and sold shares of the stock. Granite Bay Wealth Management LLC purchased a new position in shares of Marathon Petroleum during the second quarter valued at about $219,537,000. Capital Wealth Planning LLC grew its holdings in Marathon Petroleum by 10,902.9% during the 1st quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock valued at $223,792,000 after buying an additional 1,100,536 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Marathon Petroleum by 980.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 684,718 shares of the oil and gas company’s stock worth $118,785,000 after acquiring an additional 621,336 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in shares of Marathon Petroleum by 64.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 619,049 shares of the oil and gas company’s stock worth $107,393,000 after acquiring an additional 241,746 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of Marathon Petroleum by 8.5% during the 2nd quarter. Pacer Advisors Inc. now owns 2,669,815 shares of the oil and gas company’s stock valued at $463,160,000 after acquiring an additional 209,270 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.
About Marathon Petroleum
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.