Marathon Petroleum Corp. (MPC) Trading Down 1%
Marathon Petroleum Corp. (NYSE:MPC) fell 1% on Monday . The company traded as low as $40.91 and last traded at $41.29, with a volume of 2,394,858 shares traded. The stock had previously closed at $41.71.
A number of research firms recently weighed in on MPC. JPMorgan Chase & Co. restated a “hold” rating on shares of Marathon Petroleum Corp. in a report on Sunday, June 12th. Goldman Sachs Group Inc. restated a “top pick” rating on shares of Marathon Petroleum Corp. in a report on Thursday, June 30th. Vetr lowered shares of Marathon Petroleum Corp. from a “strong-buy” rating to a “buy” rating and set a $42.00 target price on the stock. in a report on Tuesday, July 12th. Zacks Investment Research lowered shares of Marathon Petroleum Corp. from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 13th. Finally, TheStreet upgraded shares of Marathon Petroleum Corp. from a “hold” rating to a “buy” rating in a report on Monday, August 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $53.46.
The stock has a market cap of $21.79 billion and a price-to-earnings ratio of 11.37. The stock 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, topping the consensus estimate of $0.97 by $0.10. The firm earned $16.81 billion during the quarter, compared to analysts’ expectations of $16.30 billion. The firm’s quarterly revenue was down 18.4% on a year-over-year basis. During the same period last year, the firm posted $1.51 earnings per share. On average, equities analysts anticipate that Marathon Petroleum Corp. will post $2.31 earnings per share 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 $0.36 dividend. The ex-dividend date of this dividend is Monday, August 15th. This is a boost 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 other news, Director Steven A. Davis bought 1,500 shares of the firm’s stock in a transaction on Thursday, May 26th. The stock was acquired at an average cost of $34.70 per share, with a total value of $52,050.00. Following the completion of the acquisition, the director now owns 9,472 shares of the company’s stock, valued at $328,678.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
A number of hedge funds and institutional investors have recently modified their holdings of the company. Stephens Inc. AR boosted its position 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 valued at $3,980,000 after buying an additional 4,360 shares during the period. 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 during 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 during the last quarter. 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 during the last quarter. Finally, 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 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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