Marathon Petroleum (NYSE:MPC) Reaches New 52-Week Low - Here's Why

Marathon Petroleum Co. (NYSE:MPC - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $142.53 and last traded at $143.94, with a volume of 392154 shares traded. The stock had previously closed at $145.56.

Analyst Upgrades and Downgrades

MPC has been the subject of several recent analyst reports. Tudor Pickering cut Marathon Petroleum from a "strong-buy" rating to a "strong sell" rating in a report on Monday, September 9th. Tudor, Pickering, Holt & Co. lowered shares of Marathon Petroleum from a "buy" rating to a "sell" rating in a research report on Monday, September 9th. Mizuho cut their price target on shares of Marathon Petroleum from $175.00 to $174.00 and set a "neutral" rating for the company in a report on Monday. Citigroup decreased their price objective on shares of Marathon Petroleum from $172.00 to $167.00 and set a "neutral" rating on the stock in a report on Thursday, October 10th. Finally, BMO Capital Markets dropped their target price on shares of Marathon Petroleum from $200.00 to $190.00 and set an "outperform" rating for the company in a report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Marathon Petroleum currently has a consensus rating of "Moderate Buy" and a consensus price target of $184.00.

Marathon Petroleum Trading Down 5.0 %

The firm has a market cap of $44.42 billion, a price-to-earnings ratio of 10.95, a price-to-earnings-growth ratio of 2.67 and a beta of 1.39. The business has a 50 day moving average of $154.40 and a 200 day moving average of $164.67. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC - Get Free Report) 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 the consensus estimate of $0.97 by $0.90. The company had revenue of $35.37 billion for the quarter, compared to analysts' expectations of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The firm's revenue for the quarter was down 14.9% compared to the same quarter last year. During the same period last year, the company earned $8.14 EPS. On average, research analysts forecast that Marathon Petroleum Co. will post 9.5 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were issued a $0.91 dividend. The ex-dividend date was Wednesday, November 20th. This is an increase from Marathon Petroleum's previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a yield of 2.63%. Marathon Petroleum's payout ratio is 28.84%.

Marathon Petroleum declared that its board has approved a stock buyback plan on Tuesday, November 5th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Jeffrey C. Campbell purchased 6,000 shares of the firm's stock in a transaction on Wednesday, December 4th. The shares were bought at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the acquisition, the director now directly owns 6,090 shares in the company, valued at $911,124.90. This trade represents a 6,666.67 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.21% of the stock is currently owned by company insiders.

Institutional Trading of Marathon Petroleum

A number of institutional investors have recently modified their holdings of the company. Oppenheimer Asset Management Inc. raised its position in Marathon Petroleum by 27.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company's stock valued at $7,033,000 after purchasing an additional 9,355 shares during the period. Founders Financial Securities LLC grew its stake in shares of Marathon Petroleum by 22.8% in the second quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company's stock valued at $863,000 after buying an additional 924 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its position in Marathon Petroleum by 747.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company's stock worth $3,466,000 after acquiring an additional 18,764 shares in the last quarter. Holistic Planning LLC purchased a new position in Marathon Petroleum in the 3rd quarter worth approximately $912,000. Finally, Magnolia Capital Advisors LLC grew its position in Marathon Petroleum by 353.4% in the second quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company's stock valued at $9,713,000 after acquiring an additional 43,639 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.