#2 - Marathon Petroleum (NYSE:MPC)
Dividend yield: 3.71%
Market capitalization: $38.54 billion
Sticking with oil and gas stocks, Marathon Petroleum (NYSE:MPC) is another solid choice. Oil stocks have made a recovery this year, and MPC stock is no exception with a gain of 51.6%. Not surprisingly, revenue through the first three quarters of the year has surpassed that of 2020. And the company is once again posting positive earnings, a sharp contrast to the negative earnings of 2020.
Between July and October, the company repurchased $1.5 billion of its own stock as part of its prior announcement that it would be buying back $10 billion in common stock as part of the sale of its Speedway business earlier in the year.
That’s one reason that analysts continue to see upside for MPC stock and have a price target of $72.58, a 15% increase from its current level. Marathon has increased its dividend for the last nine years. That’s no small feat considering the tough market conditions that the sector faced in 2020. And the company’s three-year dividend growth of over 52% is well above the sector average.
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.
More- Current Price
- $156.90
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 10 Buy Ratings, 5 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $181.20 (15.5% Upside)
