Marathon Petroleum (NYSE:MPC) Trading Up 0.5%

Shares of Marathon Petroleum Co. (NYSE:MPC) were up 0.5% on Thursday . The stock traded as high as $175.00 and last traded at $174.99. Approximately 1,344,597 shares were traded during trading, a decline of 48% from the average daily volume of 2,601,003 shares. The stock had previously closed at $174.14.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MPC shares. Mizuho reduced their target price on Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Piper Sandler dropped 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. Bank of America lifted their price target on Marathon Petroleum from $185.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. JPMorgan Chase & Co. dropped their price target on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, The Goldman Sachs Group lifted their price target on Marathon Petroleum from $175.00 to $211.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $191.31.

Marathon Petroleum Trading Up 0.5 %

The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 0.99. The business has a 50-day moving average of $177.24 and a 200-day moving average of $176.30. The firm has a market cap of $61.65 billion, a price-to-earnings ratio of 8.74, a P/E/G ratio of 1.63 and a beta of 1.40.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.25. The firm had revenue of $32.71 billion for the quarter, compared to the consensus estimate of $32.07 billion. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The business’s revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.09 earnings per share. Research analysts anticipate that Marathon Petroleum Co. will post 17.85 EPS for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Marathon Petroleum declared that its Board of Directors has authorized a share repurchase program on Tuesday, April 30th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to reacquire up to 7.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Marathon Petroleum

A number of institutional investors have recently bought and sold shares of the business. NBC Securities Inc. boosted its holdings in shares of Marathon Petroleum by 0.9% during the first quarter. NBC Securities Inc. now owns 6,333 shares of the oil and gas company’s stock worth $1,276,000 after acquiring an additional 55 shares during the period. Guidance Capital Inc. boosted its holdings in shares of Marathon Petroleum by 1.1% during the first quarter. Guidance Capital Inc. now owns 5,483 shares of the oil and gas company’s stock worth $1,135,000 after acquiring an additional 57 shares during the period. Bruce G. Allen Investments LLC boosted its holdings in shares of Marathon Petroleum by 27.3% during the first quarter. Bruce G. Allen Investments LLC now owns 275 shares of the oil and gas company’s stock worth $55,000 after acquiring an additional 59 shares during the period. First Financial Corp IN boosted its holdings in shares of Marathon Petroleum by 2.5% during the first quarter. First Financial Corp IN now owns 2,429 shares of the oil and gas company’s stock worth $489,000 after acquiring an additional 59 shares during the period. Finally, D Orazio & Associates Inc. boosted its holdings in shares of Marathon Petroleum by 3.2% during the first quarter. D Orazio & Associates Inc. now owns 1,894 shares of the oil and gas company’s stock worth $382,000 after acquiring an additional 59 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

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.