Marathon Petroleum (NYSE:MPC) Shares Down 4.3% - Here's Why

Marathon Petroleum Co. (NYSE:MPC - Get Free Report)'s stock price dropped 4.3% during mid-day trading on Wednesday . The stock traded as low as $135.66 and last traded at $136.43. Approximately 352,305 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 2,776,035 shares. The stock had previously closed at $142.62.

Wall Street Analysts Forecast Growth

MPC has been the subject of several recent analyst reports. Piper Sandler decreased their price target on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating for the company in a research note on Friday. TD Cowen reaffirmed a "buy" rating and set a $170.00 target price on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Wells Fargo & Company boosted their price target on shares of Marathon Petroleum from $182.00 to $183.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 5th. Raymond James boosted their price target on shares of Marathon Petroleum from $190.00 to $192.00 and gave the stock a "strong-buy" rating in a research report on Friday, January 17th. Finally, Mizuho dropped their price target on shares of Marathon Petroleum from $175.00 to $174.00 and set a "neutral" rating on the stock in a research report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $182.00.

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Marathon Petroleum Trading Up 0.1 %

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 company has a 50 day simple moving average of $148.61 and a two-hundred day simple moving average of $154.40. The company has a market cap of $43.03 billion, a PE ratio of 13.86, a PEG ratio of 3.11 and a beta of 1.39.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.71. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The company had revenue of $33.47 billion for the quarter, compared to analysts' expectations of $31.94 billion. During the same quarter in the previous year, the business posted $3.98 EPS. The business's revenue for the quarter was down 9.1% on a year-over-year basis. Sell-side analysts forecast that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th will be paid 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 yield of 2.64%. Marathon Petroleum's dividend payout ratio (DPR) is presently 36.66%.

Insider Buying and Selling at Marathon Petroleum

In other news, Director Evan Bayh purchased 1,000 shares of Marathon Petroleum stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average cost of $133.70 per share, for a total transaction of $133,700.00. Following the acquisition, the director now directly owns 69,305 shares in the company, valued at $9,266,078.50. This represents a 1.46 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.21% of the company's stock.

Institutional Investors Weigh In On Marathon Petroleum

Several institutional investors have recently made changes to their positions in the company. Copia Wealth Management acquired a new stake in shares of Marathon Petroleum during the 4th quarter valued at about $88,000. Siemens Fonds Invest GmbH lifted its holdings in shares of Marathon Petroleum by 49.5% during the 4th quarter. Siemens Fonds Invest GmbH now owns 17,455 shares of the oil and gas company's stock valued at $2,435,000 after buying an additional 5,783 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in shares of Marathon Petroleum during the 4th quarter valued at about $69,000. Total Wealth Planning & Management Inc. acquired a new stake in shares of Marathon Petroleum during the 4th quarter valued at about $442,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Marathon Petroleum in the 4th quarter worth approximately $36,872,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

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.