Marathon Petroleum Corporation (MPC) Given “Buy” Rating at Royal Bank Of Canada
Royal Bank Of Canada reissued their buy rating on shares of Marathon Petroleum Corporation (NYSE:MPC) in a research report report published on Thursday morning. Royal Bank Of Canada currently has a $71.00 target price on the oil and gas company’s stock.
A number of other equities analysts also recently issued reports on MPC. US Capital Advisors reiterated a buy rating on shares of Marathon Petroleum Corporation in a research note on Monday, May 22nd. Piper Jaffray Companies reiterated an overweight rating and set a $62.00 price objective on shares of Marathon Petroleum Corporation in a research note on Thursday, May 25th. BidaskClub downgraded shares of Marathon Petroleum Corporation from a buy rating to a hold rating in a research note on Tuesday, June 27th. Scotiabank set a $55.00 price objective on shares of Marathon Petroleum Corporation and gave the company a hold rating in a research note on Tuesday, July 11th. Finally, Credit Suisse Group reiterated a buy rating and set a $64.00 price objective on shares of Marathon Petroleum Corporation in a research note on Friday, July 14th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $59.43.
Marathon Petroleum Corporation (NYSE MPC) traded up 2.698% during trading on Thursday, hitting $53.865. 1,874,722 shares of the stock traded hands. The firm has a 50-day moving average price of $53.46 and a 200 day moving average price of $51.87. Marathon Petroleum Corporation has a 12 month low of $39.29 and a 12 month high of $56.81. The firm has a market cap of $27.27 billion, a PE ratio of 32.120 and a beta of 1.56.
Marathon Petroleum Corporation (NYSE:MPC) last released its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.04 by $0.01. Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. The business had revenue of $18.35 billion for the quarter, compared to the consensus estimate of $19.98 billion. During the same quarter in the prior year, the business posted $1.07 earnings per share. Marathon Petroleum Corporation’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities analysts forecast that Marathon Petroleum Corporation will post $2.73 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, August 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.05%. This is a boost from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is currently 90.91%.
In other Marathon Petroleum Corporation news, insider Thomas M. Kelley sold 25,000 shares of the firm’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $54.33, for a total value of $1,358,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.05% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Chip Partners Inc. bought a new position in Marathon Petroleum Corporation during the second quarter worth about $100,000. Guardian Life Insurance Co. of America boosted its position in Marathon Petroleum Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,036 shares of the oil and gas company’s stock worth $103,000 after buying an additional 14 shares in the last quarter. FTB Advisors Inc. boosted its position in Marathon Petroleum Corporation by 484.9% in the first quarter. FTB Advisors Inc. now owns 2,047 shares of the oil and gas company’s stock worth $104,000 after buying an additional 1,697 shares in the last quarter. Lee Financial Co boosted its position in Marathon Petroleum Corporation by 2.4% in the second quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock worth $107,000 after buying an additional 48 shares in the last quarter. Finally, Jacobi Capital Management LLC boosted its position in Marathon Petroleum Corporation by 32.2% in the first quarter. Jacobi Capital Management LLC now owns 2,340 shares of the oil and gas company’s stock worth $116,000 after buying an additional 570 shares in the last quarter. 78.84% of the stock is owned by institutional investors and hedge funds.
Marathon Petroleum Corporation Company Profile
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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