Marathon Petroleum (NYSE:MPC) Reaches New 1-Year High – Here’s What Happened

Marathon Petroleum Corporation (NYSE:MPC)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $210.42 and last traded at $210.0540, with a volume of 3665889 shares traded. The stock had previously closed at $198.21.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. TD Cowen raised their price target on Marathon Petroleum from $183.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Zacks Research downgraded Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. BMO Capital Markets boosted their price target on Marathon Petroleum from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, February 9th. The Goldman Sachs Group increased their price objective on shares of Marathon Petroleum from $204.00 to $211.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Finally, Citigroup raised their price objective on shares of Marathon Petroleum from $182.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Eleven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $202.19.

Marathon Petroleum Stock Up 6.0%

The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 1.27. The company’s 50 day moving average is $182.09 and its two-hundred day moving average is $184.66. The company has a market capitalization of $63.14 billion, a PE ratio of 15.73, a PEG ratio of 1.29 and a beta of 0.69.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results 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 return on equity of 13.90% and a net margin of 2.99%.The company had revenue of $32.57 billion during the quarter, compared to analyst estimates of $30.89 billion. During the same period in the prior year, the company earned $0.77 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. On average, analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Wednesday, February 18th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, February 18th. Marathon Petroleum’s payout ratio is currently 29.96%.

Hedge Funds Weigh In On Marathon Petroleum

Institutional investors and hedge funds have recently made changes to their positions in the business. Creative Financial Designs Inc. ADV lifted its holdings in shares of Marathon Petroleum by 2.6% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 2,050 shares of the oil and gas company’s stock valued at $333,000 after acquiring an additional 51 shares during the last quarter. IFG Advisory LLC lifted its stake in shares of Marathon Petroleum by 1.5% in the 4th quarter. IFG Advisory LLC now owns 3,429 shares of the oil and gas company’s stock valued at $558,000 after purchasing an additional 51 shares during the last quarter. Associated Banc Corp boosted its holdings in shares of Marathon Petroleum by 2.1% in the 3rd quarter. Associated Banc Corp now owns 2,475 shares of the oil and gas company’s stock worth $477,000 after purchasing an additional 52 shares during the period. Eagle Bluffs Wealth Management LLC increased its position in shares of Marathon Petroleum by 1.2% during the 4th quarter. Eagle Bluffs Wealth Management LLC now owns 4,357 shares of the oil and gas company’s stock valued at $709,000 after purchasing an additional 52 shares during the last quarter. Finally, Auxano Advisors LLC increased its position in shares of Marathon Petroleum by 2.1% during the 4th quarter. Auxano Advisors LLC now owns 2,630 shares of the oil and gas company’s stock valued at $428,000 after purchasing an additional 55 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other 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.