Marathon Petroleum Corp. (MPC) Shares Up 2.4%
Marathon Petroleum Corp. (NYSE:MPC) shares shot up 2.4% during mid-day 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 changing hands. The stock had previously closed at $41.21.
A number of research firms have issued reports on MPC. Wells Fargo & Co. reissued a “buy” rating on shares of Marathon Petroleum Corp. in a research note on Saturday, July 9th. JPMorgan Chase & Co. reissued a “hold” rating on shares of Marathon Petroleum Corp. in a research note on Sunday, June 12th. Royal Bank Of Canada boosted their target price on Marathon Petroleum Corp. from $56.00 to $58.00 and gave the company a “top pick” rating in a research note on Friday, April 29th. Vetr cut Marathon Petroleum Corp. from a “strong-buy” rating to a “buy” rating and set a $42.00 target price for the company. in a research note on Tuesday, July 12th. Finally, Zacks Investment Research cut Marathon Petroleum Corp. from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 3rd. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $53.46.
The firm has a market cap of $22.32 billion and a PE ratio of 11.65. The stock’s 50 day moving average is $38.84 and its 200-day moving average is $36.84.
Marathon Petroleum Corp. (NYSE:MPC) last posted its quarterly earnings data on Thursday, July 28th. The company reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.10. The business earned $16.81 billion during the quarter, compared to the consensus estimate of $16.30 billion. The business’s revenue was down 18.4% on a year-over-year basis. During the same period last year, the business posted $1.51 earnings per share. Equities research analysts forecast that Marathon Petroleum Corp. will post $2.30 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Wednesday, August 17th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.41%. This is an increase from Marathon Petroleum Corp.’s previous quarterly dividend of $0.32. The ex-dividend date is Monday, August 15th.
In other Marathon Petroleum Corp. news, Director Steven A. Davis acquired 1,500 shares of the stock in a transaction dated Thursday, May 26th. The stock was purchased at an average cost of $34.70 per share, with a total value of $52,050.00. Following the transaction, the director now owns 9,472 shares in the company, valued at approximately $328,678.40. The acquisition was disclosed in a filing with the SEC, which is available at this link.
Several hedge funds and institutional investors have bought and sold shares of MPC. Airain ltd raised 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 during the period. KBC Group NV raised its stake in shares of Marathon Petroleum Corp. by 11.7% in the fourth quarter. KBC Group NV now owns 249,429 shares of the company’s stock worth $12,930,000 after buying an additional 26,196 shares during the last quarter. Stephens Inc. AR raised its stake in shares of 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 during the last quarter. US Bancorp DE raised its stake in shares of Marathon Petroleum Corp. by 10.0% in the fourth quarter. US Bancorp DE now owns 486,094 shares of the company’s stock worth $25,199,000 after buying an additional 44,334 shares during the last quarter. Finally, State of Tennessee Treasury Department raised its stake in shares of 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 worth $43,193,000 after buying an additional 112,758 shares during 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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