UBS AG lowered shares of Marathon Petroleum Corporation (NYSE:MPC) from a buy rating to a neutral rating in a report released on Wednesday morning. They currently have $65.00 price objective on the oil and gas company’s stock, up from their previous price objective of $63.00.
A number of other equities analysts have also recently weighed in on the company. Bank of America Corporation cut Marathon Petroleum Corporation from a buy rating to a neutral rating in a report on Tuesday, September 5th. Citigroup Inc. increased their target price on Marathon Petroleum Corporation from $67.00 to $69.00 and gave the company a buy rating in a report on Wednesday, October 18th. Wells Fargo & Company cut Marathon Petroleum Corporation from an outperform rating to a market perform rating and reduced their target price for the company from $65.00 to $56.00 in a report on Tuesday, September 5th. Zacks Investment Research cut Marathon Petroleum Corporation from a hold rating to a sell rating in a report on Thursday, July 27th. Finally, Scotiabank reissued a hold rating and set a $55.00 target price on shares of Marathon Petroleum Corporation in a report on Friday, September 1st. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $65.07.
Shares of Marathon Petroleum Corporation (NYSE MPC) traded up $0.51 during mid-day trading on Wednesday, hitting $62.01. The stock had a trading volume of 3,981,337 shares, compared to its average volume of 4,407,882. The firm has a market cap of $30,290.00, a PE ratio of 19.11, a PEG ratio of 1.59 and a beta of 1.60. The company has a current ratio of 1.52, a quick ratio of 0.80 and a debt-to-equity ratio of 0.64. Marathon Petroleum Corporation has a fifty-two week low of $42.57 and a fifty-two week high of $63.41.
Marathon Petroleum Corporation (NYSE:MPC) last issued its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.48 by $0.29. The business had revenue of $19.36 billion during the quarter, compared to analysts’ expectations of $19.38 billion. Marathon Petroleum Corporation had a return on equity of 8.52% and a net margin of 2.35%. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.58 EPS. research analysts expect that Marathon Petroleum Corporation will post 3.59 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Thursday, November 16th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.58%. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is presently 50.00%.
In related news, insider Anthony R. Kenney sold 77,578 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $62.35, for a total value of $4,836,988.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP C. Michael Palmer sold 11,450 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $53.02, for a total value of $607,079.00. The disclosure for this sale can be found here. Corporate insiders own 1.05% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Americafirst Capital Management LLC purchased a new position in Marathon Petroleum Corporation in the third quarter worth approximately $332,000. Belpointe Asset Management LLC purchased a new position in shares of Marathon Petroleum Corporation during the third quarter worth $517,000. FrontFour Capital Group LLC purchased a new position in shares of Marathon Petroleum Corporation during the third quarter worth $552,000. First Heartland Consultants Inc. purchased a new position in shares of Marathon Petroleum Corporation during the third quarter worth $205,000. Finally, CS Mckee LP boosted its position in shares of Marathon Petroleum Corporation by 10.1% during the third quarter. CS Mckee LP now owns 392,610 shares of the oil and gas company’s stock worth $22,018,000 after buying an additional 35,985 shares during the period. Institutional investors own 81.02% of the company’s stock.
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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