Marathon Petroleum (NYSE:MPC) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Marathon Petroleum (NYSE:MPC) from a buy rating to a hold rating in a report published on Friday.

MPC has been the topic of several other research reports. The Goldman Sachs Group increased their price target on shares of Marathon Petroleum from $175.00 to $211.00 and gave the company a buy rating in a report on Friday, March 22nd. Wells Fargo & Company decreased their price target on Marathon Petroleum from $227.00 to $223.00 and set an overweight rating for the company in a research note on Thursday, June 6th. Raymond James reduced their price objective on Marathon Petroleum from $235.00 to $230.00 and set a strong-buy rating for the company in a report on Thursday, May 30th. Barclays decreased their target price on Marathon Petroleum from $221.00 to $195.00 and set an overweight rating for the company in a research report on Monday, May 6th. Finally, Bank of America raised their price target on shares of Marathon Petroleum from $185.00 to $230.00 and gave the company a neutral rating in a report on Friday, March 15th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Marathon Petroleum has a consensus rating of Moderate Buy and a consensus price target of $192.23.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $170.07 on Friday. The company’s fifty day moving average price is $185.37 and its 200-day moving average price is $174.06. The stock has a market cap of $59.92 billion, a PE ratio of 8.50, a price-to-earnings-growth ratio of 1.47 and a beta of 1.45. The company has a current ratio of 1.43, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. Marathon Petroleum has a 12 month low of $108.88 and a 12 month high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.25. The firm had revenue of $32.71 billion during the quarter, compared to the consensus estimate of $32.07 billion. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The company’s revenue was down 6.2% on a year-over-year basis. During the same period last year, the company earned $6.09 earnings per share. On average, equities analysts expect that Marathon Petroleum will post 19.3 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Thursday, May 16th were given a dividend of $0.825 per share. The ex-dividend date was Wednesday, May 15th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.94%. Marathon Petroleum’s payout ratio is currently 16.48%.

Marathon Petroleum announced that its Board of Directors has initiated a share buyback program on Tuesday, April 30th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the oil and gas company to buy up to 7.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Marathon Petroleum

Several large investors have recently made changes to their positions in the business. Norges Bank bought a new position in shares of Marathon Petroleum during the fourth quarter worth $500,685,000. Capital Wealth Planning LLC lifted its stake in Marathon Petroleum by 10,902.9% in the 1st quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock worth $223,792,000 after purchasing an additional 1,100,536 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Marathon Petroleum by 127.0% during the 3rd quarter. Acadian Asset Management LLC now owns 1,232,706 shares of the oil and gas company’s stock valued at $186,536,000 after purchasing an additional 689,576 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Marathon Petroleum by 256.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 884,573 shares of the oil and gas company’s stock valued at $131,235,000 after purchasing an additional 636,281 shares in the last quarter. Finally, Schroder Investment Management Group increased its holdings in shares of Marathon Petroleum by 309.9% in the fourth quarter. Schroder Investment Management Group now owns 643,590 shares of the oil and gas company’s stock worth $95,483,000 after purchasing an additional 486,573 shares during the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Company Profile

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.