Marathon Petroleum (NYSE:MPC) Sets New 12-Month High – Time to Buy?

Marathon Petroleum Corporation (NYSE:MPC) shares reached a new 52-week high on Friday . The company traded as high as $368.00 and last traded at $366.00, with a volume of 86023 shares trading hands. The stock had previously closed at $363.54.

Analyst Upgrades and Downgrades

MPC has been the subject of a number of research reports. UBS Group reiterated a “buy” rating and set a $321.00 target price on shares of Marathon Petroleum in a research report on Friday, July 10th. Barclays upped their price target on shares of Marathon Petroleum from $289.00 to $321.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Evercore set a $330.00 price objective on shares of Marathon Petroleum in a report on Wednesday, August 5th. Raymond James Financial lifted their price objective on shares of Marathon Petroleum from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Marathon Petroleum in a report on Friday, June 12th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $312.50.

Marathon Petroleum Stock Up 0.2%

The stock has a fifty day simple moving average of $306.35 and a two-hundred day simple moving average of $259.44. The firm has a market cap of $106.35 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The firm had revenue of $51.99 billion for the quarter, compared to the consensus estimate of $40.87 billion. During the same period in the prior year, the firm posted $3.96 earnings per share. The company’s revenue for the quarter was up 53.5% on a year-over-year basis. As a group, sell-side analysts expect that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio is 13.75%.

Insider Buying and Selling at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the sale, the vice president owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Shawn M. Lyon sold 2,500 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $350.00, for a total value of $875,000.00. Following the transaction, the senior vice president owned 12,619 shares of the company’s stock, valued at approximately $4,416,650. The trade was a 16.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 26,032 shares of company stock valued at $8,744,213 in the last three months. Company insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Solstein Capital LLC bought a new stake in Marathon Petroleum during the second quarter valued at approximately $26,000. Caitlin John LLC purchased a new stake in shares of Marathon Petroleum during the 2nd quarter valued at $26,000. Bell Investment Advisors Inc purchased a new stake in shares of Marathon Petroleum during the 2nd quarter valued at $27,000. Navalign LLC bought a new stake in shares of Marathon Petroleum during the 4th quarter worth $30,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of Marathon Petroleum during the 4th quarter worth $31,000. 76.77% of the stock is currently owned by institutional investors.

About Marathon Petroleum

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.