Marathon Petroleum Corp. (MPC) Trading 4.9% Higher
Marathon Petroleum Corp. (NYSE:MPC) traded up 4.9% during mid-day trading on Wednesday . The stock 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.
Several equities research analysts recently issued reports on the stock. Goldman Sachs Group Inc. restated a “buy” rating on shares of Marathon Petroleum Corp. in a research report on Wednesday, April 27th. Royal Bank Of Canada increased their target price on shares of Marathon Petroleum Corp. from $56.00 to $58.00 and gave the stock a “top pick” rating in a research note on Friday, April 29th. Vetr raised shares of Marathon Petroleum Corp. from a “buy” rating to a “strong-buy” rating and set a $46.33 target price for the company in a research note on Monday. Zacks Investment Research lowered shares of Marathon Petroleum Corp. from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 3rd. Finally, Credit Suisse Group AG lowered their target price on shares of Marathon Petroleum Corp. from $58.00 to $48.00 in a research note on Tuesday, April 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $53.46.
The company has a market cap of $21.76 billion and a P/E ratio of 11.37. The firm has a 50 day moving average price of $36.60 and a 200-day moving average price of $36.73.
Marathon Petroleum Corp. (NYSE:MPC) last posted its quarterly earnings data on Thursday, July 28th. The company reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.10. The company had revenue of $16.81 billion for the quarter, compared to analyst estimates of $16.30 billion. The company’s revenue was down 18.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.51 EPS. Equities analysts expect that Marathon Petroleum Corp. will post $2.40 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Wednesday, August 17th will be given a dividend of $0.36 per share. This is a positive change 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 3.49%. The ex-dividend date of this dividend is Monday, August 15th.
In other Marathon Petroleum Corp. news, Director Steven A. Davis bought 1,500 shares of the company’s stock in a transaction that occurred on Thursday, May 26th. The stock was purchased at an average price 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 $328,678.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Other hedge funds have bought and sold shares of the company. ARGI Investment Services LLC increased its stake 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 during the period. BOKF NA increased its stake in Marathon Petroleum Corp. by 16.5% in the fourth quarter. BOKF NA now owns 23,409 shares of the company’s stock worth $1,214,000 after buying an additional 3,309 shares during the period. Burney Co. increased its stake in Marathon Petroleum Corp. by 6.2% in the fourth quarter. Burney Co. now owns 24,709 shares of the company’s stock worth $1,275,000 after buying an additional 1,438 shares during the period. Matarin Capital Management LLC acquired a new stake in Marathon Petroleum Corp. during the fourth quarter worth about $1,389,000. Finally, MUFG Americas Holdings Corp increased its stake in Marathon Petroleum Corp. by 24.7% in the fourth quarter. MUFG Americas Holdings Corp now owns 45,513 shares of the company’s stock worth $2,359,000 after buying an additional 9,025 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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