3 days Ago By ABMN Staff
Marathon Petroleum Co. ( NYSE:MPC – Get Free Report ) has received an average recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company.
The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $185.07. MPC has been the topic of a number of research analyst reports.
Barclays decreased their price target on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th.
JPMorgan Chase & Co. lowered their target price on Marathon Petroleum from $172.00 to $171.
00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. BMO Capital Markets reduced their price target on shares of Marathon Petroleum from $200.00 to $190.
00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Tudor Pickering cut shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. Finally, Wells Fargo & Company decreased their price target on shares of Marathon Petroleum from $196.
00 to $183.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Read Our Latest Stock Report on MPC Marathon Petroleum Price Performance Marathon Petroleum ( NYSE:MPC – Get Free Report ) last issued its quarterly earnings data on Tuesday, November 5th.
The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.
90. The company had revenue of $35.37 billion during 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%. The business’s revenue was down 14.9% on a year-over-year basis.
During the same period last year, the business earned $8.14 earnings per share. Sell-side analysts predict that Marathon Petroleum will post 9.
59 earnings per share for the current year. Marathon Petroleum Increases Dividend The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $0.
91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.
28%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83.
The ex-dividend date is Wednesday, November 20th. Marathon Petroleum’s dividend payout ratio is currently 26.15%.
Marathon Petroleum announced that its board has approved a stock repurchase plan on Tuesday, November 5th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas company to reacquire up to 10% of its shares through open market purchases.
Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued. Institutional Inflows and Outflows Several institutional investors have recently modified their holdings of MPC. Spirepoint Private Client LLC acquired a new position in Marathon Petroleum in the 1st quarter valued at about $226,000.
TIAA Trust National Association lifted its holdings in shares of Marathon Petroleum by 38.2% during the first quarter. TIAA Trust National Association now owns 10,800 shares of the oil and gas company’s stock worth $2,176,000 after buying an additional 2,985 shares in the last quarter.
Acadian Asset Management LLC boosted its position in shares of Marathon Petroleum by 7.6% in the first quarter. Acadian Asset Management LLC now owns 1,663,835 shares of the oil and gas company’s stock valued at $335,241,000 after acquiring an additional 117,790 shares during the period.
Cynosure Group LLC bought a new position in Marathon Petroleum during the first quarter worth about $962,000. Finally, Trustmark National Bank Trust Department raised its stake in Marathon Petroleum by 17.0% in the 1st quarter.
Trustmark National Bank Trust Department now owns 8,420 shares of the oil and gas company’s stock worth $1,697,000 after purchasing an additional 1,222 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.
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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