Marathon Petroleum (NYSE:MPC) had its price objective hoisted by Barclays from $63.00 to $76.00 in a research report report published on Tuesday, November 14th. They currently have an overweight rating on the oil and gas company’s stock.
Several other analysts also recently commented on MPC. Zacks Investment Research downgraded shares of Marathon Petroleum from a hold rating to a sell rating in a research report on Monday, July 17th. Jefferies Group reissued a buy rating and issued a $54.83 target price (down from $65.00) on shares of Marathon Petroleum in a research report on Thursday, July 20th. Cowen upped their price objective on shares of Marathon Petroleum from $55.00 to $60.00 and gave the stock an outperform rating in a report on Thursday, July 27th. BidaskClub raised shares of Marathon Petroleum from a buy rating to a strong-buy rating in a report on Tuesday, August 1st. Finally, Royal Bank Of Canada reiterated a buy rating and set a $71.00 target price on shares of Marathon Petroleum in a research note on Thursday, August 31st. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $65.54.
Marathon Petroleum (NYSE MPC) traded up $0.21 during mid-day trading on Tuesday, hitting $62.84. 5,187,779 shares of the stock were exchanged, compared to its average volume of 3,562,638. Marathon Petroleum has a twelve month low of $46.88 and a twelve month high of $63.41. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.52 and a quick ratio of 0.80. The firm has a market capitalization of $30,691.81, a price-to-earnings ratio of 19.10, a P/E/G ratio of 1.55 and a beta of 1.61.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Thursday, November 16th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Wednesday, November 15th. Marathon Petroleum’s dividend payout ratio is currently 49.08%.
In other news, insider Anthony R. Kenney sold 77,578 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $62.35, for a total value of $4,836,988.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP C. Michael Palmer sold 11,450 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.02, for a total transaction of $607,079.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 102,028 shares of company stock worth $6,253,447. Insiders own 1.05% of the company’s stock.
Several large investors have recently made changes to their positions in MPC. Vanguard Group Inc. raised its holdings in Marathon Petroleum by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 39,255,717 shares of the oil and gas company’s stock worth $2,054,251,000 after buying an additional 1,544,114 shares during the period. Iridian Asset Management LLC CT raised its holdings in Marathon Petroleum by 8.0% during the 2nd quarter. Iridian Asset Management LLC CT now owns 8,327,167 shares of the oil and gas company’s stock worth $435,761,000 after buying an additional 619,548 shares during the period. Dimensional Fund Advisors LP raised its holdings in Marathon Petroleum by 0.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,103,034 shares of the oil and gas company’s stock worth $342,221,000 after buying an additional 35,033 shares during the period. Alliancebernstein L.P. raised its holdings in Marathon Petroleum by 93.3% during the 2nd quarter. Alliancebernstein L.P. now owns 5,331,521 shares of the oil and gas company’s stock worth $278,998,000 after buying an additional 2,572,727 shares during the period. Finally, AJO LP raised its holdings in shares of Marathon Petroleum by 9.0% in the second quarter. AJO LP now owns 4,991,921 shares of the oil and gas company’s stock valued at $261,227,000 after purchasing an additional 410,816 shares during the last quarter. Institutional investors and hedge funds own 80.83% of the company’s stock.
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About Marathon Petroleum
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.
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