Marathon Petroleum (NYSE:MPC) Reaches New 1-Year High Following Analyst Upgrade

Marathon Petroleum Corporation (NYSE:MPC)’s stock price reached a new 52-week high during trading on Wednesday after Mizuho raised their price target on the stock from $205.00 to $224.00. Mizuho currently has a neutral rating on the stock. Marathon Petroleum traded as high as $237.86 and last traded at $235.7730, with a volume of 147856 shares traded. The stock had previously closed at $233.26.

MPC has been the subject of a number of other research reports. UBS Group reissued a “buy” rating and issued a $221.00 target price on shares of Marathon Petroleum in a research report on Friday, February 6th. Raymond James Financial increased their price objective on shares of Marathon Petroleum from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Marathon Petroleum from $211.00 to $179.00 and set a “neutral” rating on the stock in a report on Tuesday, January 13th. The Goldman Sachs Group boosted their target price on shares of Marathon Petroleum from $211.00 to $239.00 and gave the company a “buy” rating in a research report on Thursday, March 12th. Finally, Jefferies Financial Group decreased their price target on shares of Marathon Petroleum from $216.00 to $205.00 and set a “buy” rating on the stock in a research report on Monday, January 26th. Eleven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $205.44.

Insiders Place Their Bets

In other Marathon Petroleum news, insider Ricky D. Hessling sold 1,810 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $224.78, for a total value of $406,851.80. Following the completion of the transaction, the insider directly owned 10,188 shares in the company, valued at $2,290,058.64. This represents a 15.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 4,473 shares of company stock worth $1,015,428 over the last quarter. 0.25% of the stock is owned by insiders.

Hedge Funds Weigh In On Marathon Petroleum

Hedge funds have recently modified their holdings of the stock. Creative Financial Designs Inc. ADV increased its holdings in Marathon Petroleum by 2.6% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 2,050 shares of the oil and gas company’s stock valued at $333,000 after acquiring an additional 51 shares during the last quarter. IFG Advisory LLC boosted its holdings in shares of Marathon Petroleum by 1.5% during the 4th quarter. IFG Advisory LLC now owns 3,429 shares of the oil and gas company’s stock valued at $558,000 after purchasing an additional 51 shares during the last quarter. Associated Banc Corp grew its position in shares of Marathon Petroleum by 2.1% during the third quarter. Associated Banc Corp now owns 2,475 shares of the oil and gas company’s stock valued at $477,000 after purchasing an additional 52 shares in the last quarter. Eagle Bluffs Wealth Management LLC increased its holdings in shares of Marathon Petroleum by 1.2% in the fourth quarter. Eagle Bluffs Wealth Management LLC now owns 4,357 shares of the oil and gas company’s stock worth $709,000 after purchasing an additional 52 shares during the last quarter. Finally, Auxano Advisors LLC increased its holdings in shares of Marathon Petroleum by 2.1% in the fourth quarter. Auxano Advisors LLC now owns 2,630 shares of the oil and gas company’s stock worth $428,000 after purchasing an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Up 0.9%

The business has a 50-day moving average of $195.46 and a 200 day moving average of $189.05. The company has a market capitalization of $69.39 billion, a PE ratio of 17.63, a P/E/G ratio of 1.37 and a beta of 0.69. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.26 and a quick ratio of 0.74.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.73 by $0.34. Marathon Petroleum had a net margin of 2.99% and a return on equity of 13.90%. The company had revenue of $32.57 billion for the quarter, compared to the consensus estimate of $30.89 billion. During the same quarter in the prior year, the firm earned $0.77 earnings per share. Marathon Petroleum’s revenue was down .1% on a year-over-year basis. Equities research analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Wednesday, February 18th were given a $1.00 dividend. The ex-dividend date was Wednesday, February 18th. This represents a $4.00 dividend on an annualized basis and a yield of 1.7%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 29.96%.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.