Marathon Petroleum (NYSE:MPC) Upgraded to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Marathon Petroleum (NYSE:MPC) from a buy rating to a strong-buy rating in a research note published on Wednesday.

Several other research analysts have also recently weighed in on MPC. Mizuho increased their price objective on Marathon Petroleum from $201.00 to $202.00 and gave the stock a neutral rating in a research report on Friday, April 12th. TD Cowen lifted their price objective on shares of Marathon Petroleum from $168.00 to $170.00 and gave the stock an outperform rating in a research note on Wednesday, January 31st. Wells Fargo & Company increased their target price on shares of Marathon Petroleum from $214.00 to $227.00 and gave the stock an overweight rating in a research report on Thursday, April 4th. Scotiabank lifted their price target on shares of Marathon Petroleum from $175.00 to $207.00 and gave the company a sector outperform rating in a research report on Thursday, April 11th. Finally, Citigroup started coverage on Marathon Petroleum in a report on Wednesday, January 24th. They issued a neutral rating for the company. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $193.62.

Marathon Petroleum Stock Down 0.2 %

MPC opened at $182.55 on Wednesday. The stock’s fifty day simple moving average is $194.18 and its 200 day simple moving average is $168.09. Marathon Petroleum has a 1-year low of $104.32 and a 1-year high of $221.11. The stock has a market cap of $64.32 billion, a PE ratio of 9.12, a price-to-earnings-growth ratio of 1.52 and a beta of 1.55. The company has a current ratio of 1.43, a quick ratio of 1.13 and a debt-to-equity ratio of 0.85.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.25. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The firm had revenue of $32.71 billion for the quarter, compared to analysts’ expectations of $32.07 billion. During the same period in the prior year, the firm earned $6.09 EPS. The business’s revenue was down 6.2% on a year-over-year basis. As a group, research analysts expect that Marathon Petroleum will post 19.96 earnings per share for the current year.

Marathon Petroleum announced that its board has authorized a stock repurchase plan on Tuesday, April 30th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas company to purchase up to 7.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date is Wednesday, May 15th. Marathon Petroleum’s payout ratio is 16.48%.

Insider Activity

In related news, Director Kim K.W. Rucker sold 1,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $170.35, for a total value of $170,350.00. Following the completion of the sale, the director now directly owns 23,446 shares of the company’s stock, valued at approximately $3,994,026.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Marathon Petroleum

Several hedge funds and other institutional investors have recently made changes to their positions in MPC. NBC Securities Inc. raised its holdings in shares of Marathon Petroleum by 0.9% in the first quarter. NBC Securities Inc. now owns 6,333 shares of the oil and gas company’s stock valued at $1,276,000 after purchasing an additional 55 shares during the last quarter. Guidance Capital Inc. increased its position in shares of Marathon Petroleum by 1.1% during the 1st quarter. Guidance Capital Inc. now owns 5,483 shares of the oil and gas company’s stock valued at $1,135,000 after purchasing an additional 57 shares during the last quarter. Bruce G. Allen Investments LLC raised its stake in shares of Marathon Petroleum by 27.3% during the 1st quarter. Bruce G. Allen Investments LLC now owns 275 shares of the oil and gas company’s stock worth $55,000 after purchasing an additional 59 shares during the period. First Financial Corp IN boosted its holdings in shares of Marathon Petroleum by 2.5% in the 1st quarter. First Financial Corp IN now owns 2,429 shares of the oil and gas company’s stock worth $489,000 after buying an additional 59 shares during the last quarter. Finally, Marino Stram & Associates LLC grew its position in Marathon Petroleum by 0.5% during the fourth quarter. Marino Stram & Associates LLC now owns 11,424 shares of the oil and gas company’s stock valued at $1,695,000 after buying an additional 60 shares during the period. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.