Marathon Petroleum Corp. (MPC) Trading 4.9% Higher
Marathon Petroleum Corp. (NYSE:MPC)’s share price traded up 4.9% during trading on Wednesday . The company traded as high as $40.73 and last traded at $40.71, with a volume of 4,883,573 shares traded. The stock had previously closed at $38.79.
A number of equities analysts have recently commented on the company. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Marathon Petroleum Corp. in a research report on Wednesday, April 27th. Royal Bank Of Canada boosted their price objective on Marathon Petroleum Corp. from $56.00 to $58.00 and gave the stock a “top pick” rating in a research report on Friday, April 29th. Vetr raised Marathon Petroleum Corp. from a “buy” rating to a “strong-buy” rating and set a $46.33 price objective for the company in a research report on Monday. Zacks Investment Research downgraded Marathon Petroleum Corp. from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 3rd. Finally, Credit Suisse Group AG decreased their target price on Marathon Petroleum Corp. from $58.00 to $48.00 in a research note on Tuesday, April 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $53.46.
The firm has a market cap of $22.06 billion and a PE ratio of 11.5272. The firm has a 50-day moving average price of $37.05 and a 200 day moving average price of $36.80.
Marathon Petroleum Corp. (NYSE:MPC) last issued its quarterly earnings data on Thursday, July 28th. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.10. The business had revenue of $16.81 billion for the quarter, compared to analyst estimates of $16.30 billion. During the same quarter last year, the business earned $1.51 EPS. Marathon Petroleum Corp.’s revenue for the quarter was down 18.4% compared to the same quarter last year. On average, equities research analysts expect that Marathon Petroleum Corp. will post $2.40 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Wednesday, August 17th will be issued a dividend of $0.36 per share. This is a boost from Marathon Petroleum Corp.’s previous quarterly dividend of $0.32. This represents a $1.44 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend is Monday, August 15th.
In other news, Director Steven A. Davis bought 1,500 shares of Marathon Petroleum Corp. stock in a transaction on Thursday, May 26th. The shares were bought at an average price of $34.70 per share, with a total value of $52,050.00. Following the acquisition, the director now directly owns 9,472 shares in the company, valued at approximately $328,678.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
A number of hedge funds and institutional investors have recently added to or reduced their stakes in the company. ARGI Investment Services LLC increased its position in Marathon Petroleum Corp. by 5.2% in the fourth quarter. ARGI Investment Services LLC now owns 19,445 shares of the company’s stock worth $1,008,000 after buying an additional 959 shares in the last quarter. Matarin Capital Management LLC purchased a new position in Marathon Petroleum Corp. during the fourth quarter worth approximately $1,389,000. Pittenger & Anderson Inc. increased its position in Marathon Petroleum Corp. by 1.0% in the fourth quarter. Pittenger & Anderson Inc. now owns 56,485 shares of the company’s stock worth $2,928,000 after buying an additional 550 shares in the last quarter. Pitcairn Co. increased its position in Marathon Petroleum Corp. by 1.2% in the fourth quarter. Pitcairn Co. now owns 68,101 shares of the company’s stock worth $3,530,000 after buying an additional 793 shares in the last quarter. Finally, Stephens Inc. AR increased its position in Marathon Petroleum Corp. by 6.0% in the fourth quarter. Stephens Inc. AR now owns 76,781 shares of the company’s stock worth $3,980,000 after buying an additional 4,360 shares in the last quarter.
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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