Marathon Petroleum (NYSE:MPC) Shares Up 5.6% - Here's What Happened

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

Analysts Set New Price Targets

MPC has been the topic of a number of recent analyst reports. Citigroup dropped their price objective on Marathon Petroleum from $172.00 to $167.00 and set a "neutral" rating on the stock in a research note on Thursday, October 10th. TD Cowen reiterated a "buy" rating and set a $170.00 price target on shares of Marathon Petroleum in a report on Tuesday, December 10th. Bank of America initiated coverage on Marathon Petroleum in a research report on Thursday, October 17th. They issued a "neutral" rating and a $174.00 price objective for the company. BMO Capital Markets cut their target price on shares of Marathon Petroleum from $200.00 to $190.00 and set an "outperform" rating for the company in a research note on Friday, October 4th. Finally, Barclays decreased their price target on shares of Marathon Petroleum from $168.00 to $159.00 and set an "overweight" rating on the stock in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Marathon Petroleum presently has a consensus rating of "Moderate Buy" and an average price target of $183.73.

Marathon Petroleum Trading Up 1.8 %

The company has a 50 day moving average of $147.88 and a 200 day moving average of $159.57. The firm has a market cap of $48.87 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 2.56 and a beta of 1.42. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 EPS 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 company had revenue of $35.37 billion for the quarter, compared to the consensus estimate of $34.34 billion. During the same quarter in the previous 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, research analysts anticipate that Marathon Petroleum Co. will post 9.47 EPS for the current year.

Marathon Petroleum Increases Dividend

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

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

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell bought 6,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was bought at an average cost of $149.61 per share, for a total transaction of $897,660.00. Following the completion of the purchase, the director now owns 6,090 shares in the company, valued at $911,124.90. This represents a 6,666.67 % increase in their position. The acquisition 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

A number of hedge funds have recently added to or reduced their stakes in MPC. Oppenheimer Asset Management Inc. grew its stake in shares of Marathon Petroleum by 27.7% during 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 last quarter. Wilmington Savings Fund Society FSB boosted its position in Marathon Petroleum by 747.3% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company's stock valued at $3,466,000 after buying an additional 18,764 shares during the last quarter. Holistic Planning LLC acquired a new stake in shares of Marathon Petroleum in the 3rd quarter valued at $912,000. World Investment Advisors LLC raised its position in shares of Marathon Petroleum by 4,227.5% during the third quarter. World Investment Advisors LLC now owns 69,759 shares of the oil and gas company's stock worth $11,364,000 after acquiring an additional 68,147 shares during the last quarter. Finally, Magnolia Capital Advisors LLC lifted its stake in shares of Marathon Petroleum by 353.4% during 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 during the period. 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.