Marathon Petroleum Co. (NYSE:MPC) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Marathon Petroleum Co. (NYSE:MPC) have received a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $185.27.

A number of research analysts have recently issued reports on MPC shares. Morgan Stanley dropped their price target on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Wells Fargo & Company raised their target price on shares of Marathon Petroleum from $183.00 to $186.00 and gave the company an “overweight” rating in a report on Monday. Tudor Pickering downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 9th. BMO Capital Markets dropped their price objective on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Finally, Scotiabank reduced their target price on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th.

Marathon Petroleum Trading Down 1.3 %

Shares of Marathon Petroleum stock opened at $151.06 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The company has a fifty day simple moving average of $156.76 and a 200-day simple moving average of $165.70. The stock has a market cap of $48.55 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 2.65 and a beta of 1.40. Marathon Petroleum has a 12-month low of $141.45 and a 12-month high of $221.11.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.90. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The firm had revenue of $35.37 billion for the quarter, compared to the consensus estimate of $34.34 billion. During the same quarter last year, the business posted $8.14 EPS. The firm’s quarterly revenue was down 14.9% compared to the same quarter last year. On average, equities analysts forecast that Marathon Petroleum will post 9.5 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th were given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.41%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, November 20th. Marathon Petroleum’s dividend payout ratio is 28.84%.

Marathon Petroleum declared that its board has authorized a share buyback program on Tuesday, November 5th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas company to reacquire up to 10% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other Marathon Petroleum news, Director Jeffrey C. Campbell bought 6,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was bought at an average cost of $149.61 per share, for a total transaction of $897,660.00. Following the completion of the purchase, the director now directly owns 6,090 shares of the company’s stock, valued at approximately $911,124.90. The trade was a 6,666.67 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 bought and sold shares of the business. Gladius Capital Management LP acquired a new stake in shares of Marathon Petroleum during the third quarter worth approximately $26,000. MeadowBrook Investment Advisors LLC grew its holdings in Marathon Petroleum by 88.9% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 80 shares in the last quarter. True Wealth Design LLC increased its position in shares of Marathon Petroleum by 672.7% in the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 148 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Marathon Petroleum in the 3rd quarter valued at about $30,000. Finally, Darwin Wealth Management LLC acquired a new position in Marathon Petroleum in the third quarter worth about $33,000. 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.