Marathon Petroleum (NYSE:MPC) Shares Up 5.6% – Here’s Why

Shares of Marathon Petroleum Co. (NYSE:MPC) traded up 5.6% on Monday . The stock traded as high as $150.27 and last traded at $150.19. 810,511 shares traded hands during trading, a decline of 70% from the average session volume of 2,675,516 shares. The stock had previously closed at $142.27.

Analyst Ratings Changes

MPC has been the topic of several research reports. Citigroup dropped their price target on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. BMO Capital Markets reduced 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, October 4th. Wells Fargo & Company cut their target price on Marathon Petroleum from $186.00 to $182.00 and set an “overweight” rating on the stock in a research report on Friday. Scotiabank dropped their price target 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. Finally, Piper Sandler decreased their target price on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $183.73.

Marathon Petroleum Stock Up 3.5 %

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 firm’s fifty day moving average is $147.84 and its 200 day moving average is $159.92. The stock has a market cap of $47.32 billion, a P/E ratio of 11.67, a P/E/G ratio of 2.56 and a beta of 1.42.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $34.34 billion. During the same quarter in the prior year, the company earned $8.14 EPS. The firm’s revenue for the quarter was down 14.9% compared to the same quarter last year. As a group, equities research analysts forecast that Marathon Petroleum Co. will post 9.47 EPS for the current year.

Marathon Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.47%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, November 20th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 28.84%.

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

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell purchased 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was purchased at an average price of $149.61 per share, with a total value of $897,660.00. Following the completion of the transaction, the director now directly owns 6,090 shares of the company’s stock, valued at approximately $911,124.90. This trade represents a 6,666.67 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Marathon Petroleum

Large investors have recently modified their holdings of the stock. Gladius Capital Management LP acquired a new position in Marathon Petroleum during the third quarter worth $26,000. MeadowBrook Investment Advisors LLC increased its position in shares of 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 purchasing an additional 80 shares in the last quarter. True Wealth Design LLC lifted its holdings in Marathon Petroleum by 672.7% during the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 148 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in Marathon Petroleum in the third quarter valued at about $30,000. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Marathon Petroleum during the third quarter worth approximately $33,000. 76.77% of the stock is currently owned by institutional investors.

About Marathon Petroleum

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.