Marathon Petroleum Corp. (MPC) Shares Up 2.4%
Marathon Petroleum Corp. (NYSE:MPC)’s share price shot up 2.4% during trading on Tuesday . The company traded as high as $42.28 and last traded at $42.18, with a volume of 2,265,614 shares. The stock had previously closed at $41.21.
A number of research firms have recently commented on MPC. Vetr lowered Marathon Petroleum Corp. from a “strong-buy” rating to a “buy” rating and set a $46.33 price objective on the stock. in a research note on Monday, August 8th. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Marathon Petroleum Corp. in a research note on Wednesday, April 27th. Zacks Investment Research upgraded Marathon Petroleum Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday. TheStreet raised Marathon Petroleum Corp. from a “hold” rating to a “buy” rating in a research report on Monday, August 8th. Finally, Royal Bank Of Canada lifted their target price 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. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $53.46.
The firm has a market cap of $22.28 billion and a price-to-earnings ratio of 11.627. The company has a 50-day moving average of $38.39 and a 200 day moving average of $36.80.
Marathon Petroleum Corp. (NYSE:MPC) last issued its earnings results on Thursday, July 28th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.10. The firm earned $16.81 billion during the quarter, compared to the consensus estimate of $16.30 billion. During the same period in the previous year, the company posted $1.51 earnings per share. The firm’s revenue for the quarter was down 18.4% compared to the same quarter last year. On average, analysts anticipate that Marathon Petroleum Corp. will post $2.31 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Wednesday, August 17th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Monday, August 15th. This is a positive change from Marathon Petroleum Corp.’s previous quarterly dividend of $0.32. This represents a $1.44 annualized dividend and a yield of 3.49%.
In related news, Director Steven A. Davis purchased 1,500 shares of the stock in a transaction on Thursday, May 26th. The shares were purchased at an average cost 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 $328,678.40. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.
Other hedge funds and institutional investors recently added to or reduced their stakes in the company. Stephens Inc. AR boosted 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 valued at $3,980,000 after buying an additional 4,360 shares in the last quarter. Airain ltd boosted its position in Marathon Petroleum Corp. by 863.4% in the fourth quarter. Airain ltd now owns 180,163 shares of the company’s stock valued at $9,340,000 after buying an additional 161,462 shares in the last quarter. KBC Group NV boosted its position in Marathon Petroleum Corp. by 11.7% in the fourth quarter. KBC Group NV now owns 249,429 shares of the company’s stock valued at $12,930,000 after buying an additional 26,196 shares in the last quarter. US Bancorp DE boosted its position in Marathon Petroleum Corp. by 10.0% in the fourth quarter. US Bancorp DE now owns 486,094 shares of the company’s stock valued at $25,199,000 after buying an additional 44,334 shares in the last quarter. Finally, State of Tennessee Treasury Department boosted its position in Marathon Petroleum Corp. by 15.7% in the fourth quarter. State of Tennessee Treasury Department now owns 833,183 shares of the company’s stock valued at $43,193,000 after buying an additional 112,758 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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