Marathon Petroleum (NYSE:MPC) Trading Down 7.9% – What’s Next?

Marathon Petroleum Co. (NYSE:MPC)’s share price fell 7.9% during trading on Tuesday . The company traded as low as $159.24 and last traded at $159.54. 856,896 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 2,685,015 shares. The stock had previously closed at $173.27.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Morgan Stanley decreased their price objective on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Piper Sandler dropped their price objective on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Barclays decreased their target price on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a research report on Monday, July 1st. Tudor Pickering downgraded Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 9th. Finally, BMO Capital Markets lowered their price objective on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $196.14.

Marathon Petroleum Trading Down 7.8 %

The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86. The company has a market cap of $56.27 billion, a PE ratio of 7.99, a price-to-earnings-growth ratio of 2.59 and a beta of 1.37. The firm has a fifty day moving average of $169.71 and a two-hundred day moving average of $178.07.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The company had revenue of $38.36 billion for the quarter, compared to analysts’ expectations of $36.66 billion. During the same period in the prior year, the company posted $5.32 EPS. Marathon Petroleum’s revenue was up 4.2% compared to the same quarter last year. As a group, sell-side analysts predict that Marathon Petroleum Co. will post 10.56 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were paid a $0.825 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $3.30 annualized dividend and a yield of 2.07%. Marathon Petroleum’s dividend payout ratio is currently 16.48%.

Institutional Trading of Marathon Petroleum

Institutional investors and hedge funds have recently bought and sold shares of the company. Atomi Financial Group Inc. grew its stake in Marathon Petroleum by 68.7% in the 3rd quarter. Atomi Financial Group Inc. now owns 6,710 shares of the oil and gas company’s stock worth $1,093,000 after buying an additional 2,733 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its holdings in shares of Marathon Petroleum by 80.1% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 20,595 shares of the oil and gas company’s stock worth $3,355,000 after acquiring an additional 9,161 shares during the last quarter. Fulton Bank N.A. increased its stake in Marathon Petroleum by 2.2% in the third quarter. Fulton Bank N.A. now owns 9,510 shares of the oil and gas company’s stock valued at $1,549,000 after acquiring an additional 208 shares during the last quarter. Smith Anglin Financial LLC lifted its stake in Marathon Petroleum by 5.9% during the third quarter. Smith Anglin Financial LLC now owns 1,371 shares of the oil and gas company’s stock worth $223,000 after purchasing an additional 76 shares during the last quarter. Finally, Everpar Advisors LLC boosted its holdings in shares of Marathon Petroleum by 14.3% in the 3rd quarter. Everpar Advisors LLC now owns 2,081 shares of the oil and gas company’s stock worth $339,000 after purchasing an additional 261 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other 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.