In yesterday’s Wall Street session, Marathon Petroleum Corporation (NYSE:MPC) shares traded at $125.82, up 1.26% from the previous session.
19 analysts cover Marathon Petroleum Corporation (NYSE:MPC), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $165.00 and a low of $120.00, we find $146.00. Given the previous closing price of $124.25, this indicates a potential upside of 17.51 percent. MPC stock price is now 11.23% away from the 50-day moving average and 6.22% away from the 200-day moving average. The market capitalization of the company currently stands at $52.72B.
The stock has received a hold rating from 5 analysts and a buy rating from 13. Brokers who have rated the stock have averaged $144.00 as their price target over the next twelve months.
With the price target reduced from $153 to $135, Wells Fargo Downgraded its rating from Overweight to Equal Weight for Marathon Petroleum Corporation (NYSE: MPC).
In other news, HAGEDORN CARL KRISTOPHER, Senior VP and Controller sold 5,717 shares of the company’s stock on Jun 05. The stock was sold for $622,666 at an average price of $108.91. Upon completion of the transaction, the Senior VP and Controller now directly owns 6,916 shares in the company, valued at $0.87 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 04, Gen Counsel and SVP Gov Aff Gagle Suzanne sold 60,019 shares of the business’s stock. A total of $8,059,351 was realized by selling the stock at an average price of $134.28. This leaves the insider owning 45,997 shares of the company worth $5.79 million. Insiders disposed of 572,576 shares of company stock worth roughly $72.04 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in MPC stock. A new stake in Marathon Petroleum Corporation shares was purchased by AVENTAIL CAPITAL GROUP, LP during the first quarter worth $59,182,000. NATIXIS invested $56,023,000 in shares of MPC during the first quarter. In the first quarter, MEREWETHER INVESTMENT MANAGEMENT, LP acquired a new stake in Marathon Petroleum Corporation valued at approximately $52,134,000. WALLEYE CAPITAL LLC acquired a new stake in MPC for approximately $33,243,000. CINCTIVE CAPITAL MANAGEMENT LP purchased a new stake in MPC valued at around $26,658,000 in the second quarter.
On Friday morning Marathon Petroleum Corporation (NYSE: MPC) stock kicked off with the opening price of $125.00. During the past 12 months, Marathon Petroleum Corporation has had a low of $83.62 and a high of $138.83. As of last week, the company has a debt-to-equity ratio of 1.02, a current ratio of 1.90, and a quick ratio of 1.30. The fifty day moving average price for MPC is $113.42 and a two-hundred day moving average price translates $118.57 for the stock.
The latest earnings results from Marathon Petroleum Corporation (NYSE: MPC) was released for Mar, 2023. According to the Oil & Gas Refining & Marketing Company, earnings per share came in at $6.09, beating analysts’ expectations of $5.74 by 0.35. This compares to $1.49 EPS in the same period last year. The net profit margin was 9.30% and return on equity was 61.20% for MPC. The company reported revenue of $34.86 billion for the quarter, compared to $38.06 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -8.39 percent. For the current quarter, analysts expect MPC to generate $34.11B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/12/2023. Investors who held shares on 05/17/2023 were paid a $0.75 dividend. On an annualized basis, this represents a $3.00 dividend and a 2.38% percent yield. There was an ex-dividend date of 05/16/2023 for this dividend. In terms of dividend payout ratio, MPC is presently at 8.00%.
Marathon Petroleum Corporation(MPC) Company Profile
Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company 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 and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services. Its refined products include transportation fuels, such as reformulated gasolines and blend-grade gasolines; heavy fuel oil; and asphalt. This segment also manufactures propane, petrochemicals, and natural gas liquids. It sells refined products to wholesale marketing customers in the United States and internationally, buyers on the spot market, and independent entrepreneurs who operate primarily Marathon branded outlets, as well as through long-term fuel supply contracts to direct dealer locations primarily under the ARCO brand. The Midstream segment transports, stores, distributes, and markets crude oil and refined products through refining logistics assets, pipelines, terminals, towboats, and barges; gathers, processes, and transports natural gas; and gathers, transports, fractionates, stores, and markets natural gas liquids. The company was founded in 1887 and is headquartered in Findlay, Ohio.
