Marathon Petroleum (NYSE:MPC) Trading Up 5.6% – Still a Buy?

Shares of Marathon Petroleum Co. (NYSE:MPCGet Free Report) traded up 5.6% during trading on Monday . The company traded as high as $150.27 and last traded at $150.19. 810,511 shares traded hands during trading, a decline of 70% from the average session volume of 2,675,516 shares. The stock had previously closed at $142.27.

Analyst Ratings Changes

Several research firms recently commented on MPC. Wells Fargo & Company cut their price objective on shares of Marathon Petroleum from $186.00 to $182.00 and set an “overweight” rating for the company in a report on Friday, January 10th. TD Cowen reiterated a “buy” rating and set a $170.00 price objective on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Bank of America began coverage on Marathon Petroleum in a report on Thursday, October 17th. They set a “neutral” rating and a $174.00 price objective on the stock. Scotiabank decreased their price target on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, BMO Capital Markets lowered their price target on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $183.73.

Get Our Latest Stock Report on Marathon Petroleum

Marathon Petroleum Trading Up 1.9 %

The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The stock has a 50 day moving average of $147.88 and a 200 day moving average of $159.57. The firm has a market cap of $48.06 billion, a P/E ratio of 11.85, a PEG ratio of 2.56 and a beta of 1.42.

Marathon Petroleum (NYSE:MPCGet Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.90. The company had revenue of $35.37 billion for the quarter, compared to analysts’ expectations of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. Marathon Petroleum’s revenue for the quarter was down 14.9% compared to the same quarter last year. During the same period last year, the firm posted $8.14 EPS. As a group, equities research analysts predict that Marathon Petroleum Co. will post 9.47 EPS for the current year.

Marathon Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th were paid a $0.91 dividend. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.43%. Marathon Petroleum’s dividend payout ratio is 28.84%.

Marathon Petroleum announced that its board has authorized a stock repurchase program on Tuesday, November 5th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the oil and gas company to repurchase up to 10% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Marathon Petroleum

In related news, Director Jeffrey C. Campbell bought 6,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was bought at an average price of $149.61 per share, with a total value of $897,660.00. Following the purchase, the director now owns 6,090 shares in the company, valued at approximately $911,124.90. The trade was a 6,666.67 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On Marathon Petroleum

Large investors have recently bought and sold shares of the stock. Wellington Management Group LLP grew its holdings in shares of Marathon Petroleum by 342.1% in the third quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock worth $911,274,000 after purchasing an additional 4,328,470 shares during the last quarter. International Assets Investment Management LLC boosted its position in Marathon Petroleum by 19,153.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,311,182 shares of the oil and gas company’s stock valued at $213,605,000 after buying an additional 1,304,372 shares during the period. ING Groep NV bought a new stake in Marathon Petroleum in the 3rd quarter worth $114,107,000. National Bank of Canada FI increased its position in shares of Marathon Petroleum by 212.9% in the third quarter. National Bank of Canada FI now owns 846,756 shares of the oil and gas company’s stock valued at $137,945,000 after acquiring an additional 576,119 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of Marathon Petroleum by 1,204.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company’s stock valued at $75,757,000 after acquiring an additional 501,441 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

About Marathon Petroleum

(Get Free Report)

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.

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