Marathon Petroleum Corp. (MPC) Trading Down 5.8%
Marathon Petroleum Corp. (NYSE:MPC)’s share price dropped 5.8% during trading on Wednesday . The company traded as low as $35.94 and last traded at $36.55, with a volume of 5,211,518 shares traded. The stock had previously closed at $38.78.
MPC has been the topic of a number of research reports. Barclays PLC cut their price objective on Marathon Petroleum Corp. from $70.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, March 16th. Citigroup Inc. restated a “buy” rating on shares of Marathon Petroleum Corp. in a report on Wednesday, May 18th. Credit Suisse Group AG cut their price objective on Marathon Petroleum Corp. from $58.00 to $48.00 in a report on Tuesday, April 12th. Zacks Investment Research upgraded Marathon Petroleum Corp. from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 11th. Finally, Goldman Sachs Group Inc. restated a “buy” rating on shares of Marathon Petroleum Corp. in a report on Wednesday, April 27th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $55.68.
The company has a 50-day moving average price of $35.69 and a 200-day moving average price of $38.25. The stock has a market cap of $19.34 billion and a P/E ratio of 9.99.
Marathon Petroleum Corp. (NYSE:MPC) last posted its quarterly earnings data on Thursday, April 28th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by $0.14. The business earned $12.83 billion during the quarter, compared to analysts’ expectations of $13.08 billion. During the same quarter last year, the company posted $3.24 earnings per share. The business’s quarterly revenue was down 25.6% on a year-over-year basis. On average, analysts expect that Marathon Petroleum Corp. will post $3.05 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Wednesday, May 18th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date was Monday, May 16th.
In related news, Director Steven A. Davis purchased 1,500 shares of the business’s stock in a transaction dated 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 purchase, the director now directly owns 9,472 shares in the company, valued at approximately $328,678.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles E. Bunch purchased 2,000 shares of the business’s stock in a transaction dated Monday, May 2nd. The stock was bought at an average cost of $38.56 per share, for a total transaction of $77,120.00. Following the purchase, the director now owns 4,377 shares in the company, valued at $168,777.12. The disclosure for this purchase can be found here.
Other hedge funds and institutional investors recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Marathon Petroleum Corp. by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 32,881,803 shares of the company’s stock worth $1,704,592,000 after buying an additional 719,283 shares during the period. NorthCoast Asset Management LLC bought a new position in Marathon Petroleum Corp. during the fourth quarter worth $36,118,000. RidgeWorth Capital Management LLC increased its position in Marathon Petroleum Corp. by 40,534.0% in the fourth quarter. RidgeWorth Capital Management LLC now owns 418,530 shares of the company’s stock worth $21,696,000 after buying an additional 417,500 shares during the period. Wells Fargo & Company MN increased its position in Marathon Petroleum Corp. by 24.2% in the fourth quarter. Wells Fargo & Company MN now owns 1,797,884 shares of the company’s stock worth $93,203,000 after buying an additional 350,890 shares during the period. Finally, Winton Capital Group Ltd increased its position in Marathon Petroleum Corp. by 48.9% in the fourth quarter. Winton Capital Group Ltd now owns 845,767 shares of the company’s stock worth $43,845,000 after buying an additional 277,664 shares during the period.
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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