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

Marathon Petroleum Co. (NYSE:MPC) has received an average recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $181.27.

A number of brokerages recently commented on MPC. Wells Fargo & Company upped their price objective on Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a research note on Wednesday. Bank of America initiated coverage on shares of Marathon Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price objective on the stock. TD Cowen reissued a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Barclays cut their price target on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Finally, Mizuho decreased their price objective on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a report on Monday, December 16th.

Marathon Petroleum Stock Up 0.2 %

Shares of NYSE:MPC opened at $157.22 on Thursday. Marathon Petroleum has a 1-year low of $130.54 and a 1-year high of $221.11. The company’s fifty day moving average is $146.07 and its two-hundred day moving average is $157.78. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The stock has a market capitalization of $50.53 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 2.77 and a beta of 1.41.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. The firm had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $31.94 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. Marathon Petroleum’s revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the company posted $3.98 earnings per share. Equities analysts anticipate that Marathon Petroleum will post 8.88 EPS for the current year.

Marathon Petroleum announced that its board has approved a share repurchase program on Tuesday, November 5th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.64 annualized dividend and a dividend yield of 2.32%. Marathon Petroleum’s dividend payout ratio (DPR) is 36.66%.

Insider Activity at Marathon Petroleum

In related news, Director Jeffrey C. Campbell bought 6,000 shares of Marathon Petroleum stock in a transaction dated Wednesday, December 4th. The stock was acquired at an average cost of $149.61 per share, with a total value of $897,660.00. Following the completion of the acquisition, the director now directly owns 6,090 shares in the company, valued at approximately $911,124.90. This trade represents a 6,666.67 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On Marathon Petroleum

A number of institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP raised its holdings in shares of Marathon Petroleum by 342.1% during the third quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock valued at $911,274,000 after acquiring an additional 4,328,470 shares during the period. International Assets Investment Management LLC grew its position in Marathon Petroleum by 19,153.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,311,182 shares of the oil and gas company’s stock worth $213,605,000 after purchasing an additional 1,304,372 shares in the last quarter. ING Groep NV acquired a new stake in Marathon Petroleum during the 3rd quarter valued at $114,107,000. Pacer Advisors Inc. boosted its position in shares of Marathon Petroleum by 22.3% in the fourth quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company’s stock worth $495,595,000 after buying an additional 647,045 shares during the period. Finally, National Bank of Canada FI grew its holdings in shares of Marathon Petroleum by 212.9% during the third quarter. National Bank of Canada FI now owns 846,756 shares of the oil and gas company’s stock valued at $137,945,000 after buying an additional 576,119 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

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.