MPC has been the topic of several other research reports. Jefferies Group initiated coverage on shares of Marathon Petroleum Corp. in a report on Tuesday, August 23rd. They set a buy rating and a $48.00 price objective on the stock. Vetr upgraded shares of Marathon Petroleum Corp. from a buy rating to a strong-buy rating and set a $51.50 price objective on the stock in a report on Monday, September 12th. Piper Jaffray Cos. upped their price objective on shares of Marathon Petroleum Corp. from $41.00 to $46.00 and gave the company a neutral rating in a report on Friday, September 16th. Goldman Sachs Group Inc. reiterated a top pick rating on shares of Marathon Petroleum Corp. in a report on Thursday, June 30th. Finally, Credit Suisse Group AG reiterated an outperform rating on shares of Marathon Petroleum Corp. in a report on Sunday, September 4th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $53.05.
Marathon Petroleum Corp. (NYSE:MPC) opened at 41.48 on Monday. The company’s 50-day moving average price is $42.31 and its 200-day moving average price is $38.46. The company has a market cap of $21.93 billion, a PE ratio of 11.45 and a beta of 2.20. Marathon Petroleum Corp. has a 12-month low of $29.24 and a 12-month high of $59.99.
Marathon Petroleum Corp. (NYSE:MPC) last issued its quarterly earnings results on Thursday, July 28th. The company reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.10. The business had revenue of $16.81 billion for the quarter, compared to analysts’ expectations of $16.30 billion. Marathon Petroleum Corp. had a net margin of 3.02% and a return on equity of 10.94%. The business’s quarterly revenue was down 18.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.51 earnings per share. Equities analysts anticipate that Marathon Petroleum Corp. will post $2.40 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Wednesday, August 17th were issued a $0.36 dividend. The ex-dividend date was Monday, August 15th. This is an increase from Marathon Petroleum Corp.’s previous quarterly dividend of $0.32. This represents a $1.44 annualized dividend and a yield of 3.47%. Marathon Petroleum Corp.’s dividend payout ratio (DPR) is 39.78%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MPC. Sii Investments Inc. WI increased its position in Marathon Petroleum Corp. by 48.9% in the first quarter. Sii Investments Inc. WI now owns 8,694 shares of the company’s stock valued at $324,000 after buying an additional 2,855 shares during the period. IFP Advisors Inc increased its position in Marathon Petroleum Corp. by 18.5% in the first quarter. IFP Advisors Inc now owns 12,993 shares of the company’s stock valued at $483,000 after buying an additional 2,027 shares during the period. Bowling Portfolio Management LLC increased its position in Marathon Petroleum Corp. by 68.3% in the first quarter. Bowling Portfolio Management LLC now owns 73,998 shares of the company’s stock valued at $2,751,000 after buying an additional 30,041 shares during the period. CIBC World Markets Inc. increased its position in Marathon Petroleum Corp. by 68.6% in the first quarter. CIBC World Markets Inc. now owns 65,634 shares of the company’s stock valued at $2,440,000 after buying an additional 26,696 shares during the period. Finally, Parametrica Management Ltd acquired a new position in Marathon Petroleum Corp. during the first quarter valued at approximately $206,000. 79.85% of the stock is owned by institutional investors.
About Marathon Petroleum Corp.
Marathon Petroleum Corporation is engaged in petroleum product refining, marketing, retail and transportation businesses in the United States and the east of the Mississippi. The Company’s segments include Refining & Marketing, Speedway, and Midstream. Its Refining & Marketing segment refines crude oil and other feedstocks at its approximately seven refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products.
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