Marathon Petroleum Co. (NYSE:MPC) Receives $185.27 Consensus PT from Brokerages

Marathon Petroleum Co. (NYSE:MPC - Get Free Report) has earned an average recommendation of "Moderate Buy" from the seventeen brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $185.27.

Several brokerages have weighed in on MPC. TD Cowen reaffirmed a "buy" rating and issued a $170.00 target price on shares of Marathon Petroleum in a research report on Tuesday. Bank of America began coverage on shares of Marathon Petroleum in a research note on Thursday, October 17th. They issued a "neutral" rating and a $174.00 target price for the company. 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 note on Thursday, October 10th. Mizuho reduced their price objective on shares of Marathon Petroleum from $198.00 to $193.00 and set a "neutral" rating for the company in a research note on Monday, September 16th. Finally, Scotiabank cut their target price on Marathon Petroleum from $191.00 to $170.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 10th.

Marathon Petroleum Stock Up 0.6 %

NYSE MPC traded up $0.93 during trading on Wednesday, reaching $151.99. 2,796,147 shares of the company's stock were exchanged, compared to its average volume of 2,617,572. The firm has a market capitalization of $48.85 billion, a PE ratio of 11.89, a P/E/G ratio of 2.65 and a beta of 1.40. Marathon Petroleum has a fifty-two week low of $141.45 and a fifty-two week high of $221.11. 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's fifty day simple moving average is $156.47 and its 200-day simple moving average is $165.51.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings data 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 net margin of 3.15% and a return on equity of 16.19%. The firm had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. During the same quarter in the prior year, the business earned $8.14 EPS. The company's revenue for the quarter was down 14.9% compared to the same quarter last year. Sell-side analysts predict that Marathon Petroleum will post 9.5 EPS for the current year.

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.

Marathon Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th were given a dividend of $0.91 per share. The ex-dividend date was Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.39%. This is a positive change from Marathon Petroleum's previous quarterly dividend of $0.83. Marathon Petroleum's dividend payout ratio is currently 28.84%.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell acquired 6,000 shares of Marathon Petroleum stock in a transaction dated Wednesday, December 4th. The stock was bought at an average cost of $149.61 per share, with a total value of $897,660.00. Following the acquisition, the director now 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.21% of the company's stock.

Institutional Trading of Marathon Petroleum

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its position in shares of Marathon Petroleum by 2.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 89,034 shares of the oil and gas company's stock worth $15,446,000 after buying an additional 2,338 shares during the period. ORG Partners LLC bought a new stake in shares of Marathon Petroleum in the 2nd quarter worth about $513,000. Envestnet Portfolio Solutions Inc. increased its position in shares of Marathon Petroleum by 9.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 104,967 shares of the oil and gas company's stock worth $18,210,000 after purchasing an additional 9,128 shares in the last quarter. Cornerstone Wealth Management LLC lifted its holdings in Marathon Petroleum by 6.7% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 3,181 shares of the oil and gas company's stock valued at $552,000 after purchasing an additional 201 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its position in Marathon Petroleum by 30.3% in the second quarter. AdvisorNet Financial Inc now owns 740 shares of the oil and gas company's stock valued at $128,000 after buying an additional 172 shares in the last quarter. Institutional investors own 76.77% of the company's stock.

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.