Marathon Petroleum (NYSE:MPC) Reaches New 1-Year High After Analyst Upgrade

Marathon Petroleum Co. (NYSE:MPC)’s stock price hit a new 52-week high during trading on Wednesday after Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price target on the stock from $58.00 to $70.00. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell currently has a neutral rating on the stock. Marathon Petroleum traded as high as $64.52 and last traded at $64.18, with a volume of 20819 shares traded. The stock had previously closed at $64.09.

MPC has been the subject of several other reports. TheStreet upgraded Marathon Petroleum from a “d+” rating to a “c-” rating in a research report on Monday, March 8th. Raymond James upgraded Marathon Petroleum from a “market perform” rating to a “strong-buy” rating and set a $69.00 price target for the company in a report on Friday, April 16th. Wells Fargo & Company boosted their price target on Marathon Petroleum from $60.00 to $66.00 and gave the company an “overweight” rating in a report on Thursday, February 25th. Credit Suisse Group started coverage on Marathon Petroleum in a report on Monday, May 17th. They issued an “outperform” rating for the company. Finally, JPMorgan Chase & Co. upgraded Marathon Petroleum from a “neutral” rating to an “overweight” rating and set a $67.00 price target for the company in a report on Monday, February 22nd. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $59.79.

A number of institutional investors have recently made changes to their positions in the stock. KB Financial Partners LLC purchased a new stake in Marathon Petroleum during the 1st quarter worth $44,000. Rehmann Capital Advisory Group purchased a new stake in Marathon Petroleum during the 1st quarter worth $319,000. Schroder Investment Management Group boosted its position in Marathon Petroleum by 65.3% during the 1st quarter. Schroder Investment Management Group now owns 67,806 shares of the oil and gas company’s stock worth $3,626,000 after purchasing an additional 26,785 shares during the period. Sunbelt Securities Inc. boosted its position in Marathon Petroleum by 23.1% during the 1st quarter. Sunbelt Securities Inc. now owns 45,628 shares of the oil and gas company’s stock worth $2,441,000 after purchasing an additional 8,563 shares during the period. Finally, CSM Advisors LLC purchased a new stake in Marathon Petroleum during the 1st quarter worth $10,449,000. 76.18% of the stock is owned by hedge funds and other institutional investors.

The business has a 50-day simple moving average of $57.83. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.89 and a quick ratio of 1.36. The firm has a market capitalization of $41.40 billion, a PE ratio of -38.68, a PEG ratio of 1.29 and a beta of 2.16.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, May 4th. The oil and gas company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.52. The company had revenue of $22.88 billion during the quarter, compared to analysts’ expectations of $19.80 billion. Marathon Petroleum had a negative net margin of 1.43% and a negative return on equity of 7.64%. The firm’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.16) EPS. Equities analysts expect that Marathon Petroleum Co. will post 1.69 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 10th. Shareholders of record on Wednesday, May 19th were given a $0.58 dividend. The ex-dividend date was Tuesday, May 18th. This represents a $2.32 dividend on an annualized basis and a yield of 3.66%. Marathon Petroleum’s payout ratio is currently -67.44%.

About Marathon Petroleum (NYSE:MPC)

Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates in two segments: Refining & Marketing, and Midstream. 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.

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