Marathon Petroleum (NYSE:MPC) Downgraded to Buy Rating by Wall Street Zen

Wall Street Zen downgraded shares of Marathon Petroleum (NYSE:MPCFree Report) from a strong-buy rating to a buy rating in a research report report published on Saturday.

MPC has been the topic of a number of other research reports. Mizuho raised their price objective on shares of Marathon Petroleum from $205.00 to $224.00 and gave the company a “neutral” rating in a research note on Tuesday, March 17th. Zacks Research upgraded shares of Marathon Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 7th. UBS Group raised their price objective on shares of Marathon Petroleum from $221.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Citigroup raised their price objective on shares of Marathon Petroleum from $210.00 to $243.00 and gave the company a “neutral” rating in a research note on Friday, April 10th. Finally, Scotiabank raised their price objective on shares of Marathon Petroleum from $174.00 to $210.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and a consensus price target of $241.81.

Read Our Latest Report on Marathon Petroleum

Marathon Petroleum Stock Down 0.6%

MPC stock opened at $246.77 on Friday. The firm’s 50-day moving average is $226.00 and its two-hundred day moving average is $199.47. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $72.67 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 0.36 and a beta of 0.53. Marathon Petroleum has a 52 week low of $137.30 and a 52 week high of $255.77.

Marathon Petroleum (NYSE:MPCGet Free Report) last posted its quarterly earnings data on Tuesday, February 3rd. The oil and gas company reported $4.07 EPS for the quarter, beating analysts’ consensus estimates of $3.73 by $0.34. Marathon Petroleum had a net margin of 2.99% and a return on equity of 13.90%. The business had revenue of $32.57 billion for the quarter, compared to analyst estimates of $30.89 billion. During the same quarter last year, the business earned $0.77 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. On average, analysts forecast that Marathon Petroleum will post 26.3 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $4.00 annualized dividend and a yield of 1.6%. Marathon Petroleum’s dividend payout ratio is currently 29.96%.

Insider Buying and Selling

In related news, insider Ricky D. Hessling sold 1,626 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $228.18, for a total transaction of $371,020.68. Following the completion of the sale, the insider directly owned 7,525 shares of the company’s stock, valued at $1,717,054.50. This represents a 17.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 4,473 shares of company stock worth $1,015,428 over the last ninety days. 0.17% of the stock is owned by corporate insiders.

Institutional Trading of Marathon Petroleum

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. LGT Fund Management Co Ltd. raised its holdings in shares of Marathon Petroleum by 2,357.4% during the first quarter. LGT Fund Management Co Ltd. now owns 35,706 shares of the oil and gas company’s stock valued at $8,719,000 after acquiring an additional 34,253 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Marathon Petroleum by 2.7% during the first quarter. International Assets Investment Management LLC now owns 5,233 shares of the oil and gas company’s stock valued at $1,247,000 after acquiring an additional 137 shares during the period. Diversify Wealth Management LLC raised its holdings in shares of Marathon Petroleum by 131.4% during the first quarter. Diversify Wealth Management LLC now owns 5,412 shares of the oil and gas company’s stock valued at $1,309,000 after acquiring an additional 3,073 shares during the period. Fifth Third Bancorp raised its holdings in shares of Marathon Petroleum by 12.7% during the first quarter. Fifth Third Bancorp now owns 597,811 shares of the oil and gas company’s stock valued at $145,973,000 after acquiring an additional 67,583 shares during the period. Finally, Sovran Advisors LLC raised its holdings in shares of Marathon Petroleum by 125.9% during the first quarter. Sovran Advisors LLC now owns 4,952 shares of the oil and gas company’s stock valued at $1,230,000 after acquiring an additional 2,760 shares during the period. 76.77% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Marathon Petroleum

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

Marathon Petroleum Company Profile

(Get Free Report)

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.

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