Marathon Petroleum (NYSE:MPC) Sets New 12-Month High Following Analyst Upgrade

Marathon Petroleum Corporation (NYSE:MPC)’s stock price reached a new 52-week high on Monday after Bank of America raised their price target on the stock from $410.00 to $426.00. Bank of America currently has a neutral rating on the stock. Marathon Petroleum traded as high as $432.21 and last traded at $432.6710, with a volume of 540544 shares traded. The stock had previously closed at $422.33.

Several other research firms also recently commented on MPC. Citigroup lifted their price target on shares of Marathon Petroleum from $303.00 to $318.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Wells Fargo & Company increased their target price on shares of Marathon Petroleum from $359.00 to $400.00 and gave the company an “overweight” rating in a report on Tuesday, September 1st. TD Cowen lifted their target price on shares of Marathon Petroleum from $357.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Piper Sandler boosted their price objective on Marathon Petroleum from $344.00 to $462.00 and gave the company an “overweight” rating in a research report on Thursday, September 3rd. Finally, Raymond James Financial increased their target price on shares of Marathon Petroleum from $350.00 to $445.00 and gave the stock an “outperform” rating in a report on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $370.38.

Insider Activity

In other news, VP Erin M. Brzezinski sold 570 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total value of $206,790.30. Following the completion of the sale, the vice president directly owned 1,576 shares in the company, valued at $571,757.04. This represents a 26.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Molly R. Benson sold 17,196 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $358.57, for a total value of $6,165,969.72. Following the transaction, the insider owned 30,334 shares of the company’s stock, valued at approximately $10,876,862.38. This trade represents a 36.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 21,691 shares of company stock valued at $7,780,127 in the last 90 days. 0.17% of the stock is currently owned by insiders.

Key Marathon Petroleum News

Here are the key news stories impacting Marathon Petroleum this week:

• Positive Sentiment: Strong refinery throughput outlook: MPC is targeting approximately 3 million barrels per day of third-quarter throughput. High refinery utilization, supportive margins and ongoing refinery projects could sustain earnings and cash-flow momentum. MPC Targets 3M Barrels per day in Q3: Can Strong Throughput Continue?
• Positive Sentiment: Estimates remain supported by energy conditions: A Zacks analyst roundup highlighted Marathon Petroleum ahead of third-quarter earnings, citing elevated oil prices and operating trends that may lift estimates. Analysts also point to MPC’s history of earnings surprises and the potential for another beat. The Zacks Analyst Blog Highlights Lam, Taiwan, Marathon, NVIDIA, Micron and Alphabet Will Marathon Petroleum Beat Estimates Again?
• Positive Sentiment: Positive technical momentum: MPC recently closed at $433.47, a new annual high, and was reported to have reached a new 12-month high following an analyst upgrade. This momentum suggests continued investor confidence in the refining outlook. Marathon Petroleum Breaks to a New Annual High
• Neutral Sentiment: Short-term volatility: The latest decline follows the new high and may reflect profit-taking rather than a deterioration in fundamentals. The main near-term catalyst is MPC’s third-quarter earnings report, where investors will assess whether high throughput and margins can continue.

Institutional Trading of Marathon Petroleum

A number of hedge funds and other institutional investors have recently modified their holdings of MPC. Solstein Capital LLC bought a new position in Marathon Petroleum in the 2nd quarter worth $26,000. Caitlin John LLC bought a new stake in Marathon Petroleum during the second quarter valued at about $26,000. Bell Investment Advisors Inc purchased a new position in shares of Marathon Petroleum in the second quarter valued at about $27,000. Cetera Trust Company N.A purchased a new position in shares of Marathon Petroleum in the second quarter valued at about $35,000. Finally, Frazier Financial Advisors LLC bought a new position in shares of Marathon Petroleum in the second quarter worth about $36,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Price Performance

The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. The firm has a 50-day moving average of $372.02 and a 200-day moving average of $296.69. The stock has a market cap of $126.20 billion, a PE ratio of 14.86, a PEG ratio of 0.13 and a beta of 0.54.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The company had revenue of $51.99 billion for the quarter, compared to the consensus estimate of $40.87 billion. During the same quarter last year, the company earned $3.96 EPS. The firm’s quarterly revenue was up 53.5% on a year-over-year basis. Research analysts predict that Marathon Petroleum Corporation will post 61.31 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were given a dividend of $1.00 per share. The ex-dividend date was Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.9%. Marathon Petroleum’s dividend payout ratio is currently 13.75%.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE:MPC) is an integrated downstream energy company engaged primarily in refining, marketing and transporting petroleum products. The company converts crude oil and other feedstocks into gasoline, diesel, jet fuel, asphalt, propane and other refined products used by consumers, businesses and industrial customers.

Marathon Petroleum operates refineries and related logistics assets in the United States, with a refining and marketing presence serving markets across the Midwest, Gulf Coast and West Coast.