Marathon Petroleum (MPC) Reaches New 1-Year Low After Analyst Downgrade

Shares of Marathon Petroleum Corp (NYSE:MPC) reached a new 52-week low during mid-day trading on Tuesday after Morgan Stanley lowered their price target on the stock from $110.00 to $95.00. Morgan Stanley currently has a buy rating on the stock. Marathon Petroleum traded as low as $60.64 and last traded at $62.26, with a volume of 385805 shares trading hands. The stock had previously closed at $63.41.

A number of other brokerages have also recently weighed in on MPC. Zacks Investment Research raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a report on Tuesday, October 9th. Wells Fargo & Co reissued a “buy” rating on shares of Marathon Petroleum in a report on Monday, August 27th. Barclays began coverage on shares of Marathon Petroleum in a report on Wednesday, October 3rd. They set an “overweight” rating and a $125.00 target price on the stock. Citigroup increased their target price on shares of Marathon Petroleum from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, September 7th. Finally, Goldman Sachs Group began coverage on shares of Marathon Petroleum in a report on Tuesday, October 2nd. They set a “conviction-buy” rating on the stock. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Marathon Petroleum currently has a consensus rating of “Buy” and an average target price of $91.44.

In other news, Director Steven A. Davis purchased 2,500 shares of the stock in a transaction dated Monday, November 19th. The stock was acquired at an average price of $62.20 per share, for a total transaction of $155,500.00. Following the completion of the transaction, the director now owns 16,462 shares of the company’s stock, valued at $1,023,936.40. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 1.09% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in Marathon Petroleum by 9.8% in the 3rd quarter. BlackRock Inc. now owns 39,961,377 shares of the oil and gas company’s stock valued at $3,195,712,000 after buying an additional 3,550,450 shares in the last quarter. Bank of New York Mellon Corp grew its position in Marathon Petroleum by 16.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 8,709,970 shares of the oil and gas company’s stock valued at $696,535,000 after buying an additional 1,203,638 shares in the last quarter. Morgan Stanley grew its position in Marathon Petroleum by 16.2% in the 3rd quarter. Morgan Stanley now owns 6,740,004 shares of the oil and gas company’s stock valued at $538,997,000 after buying an additional 941,397 shares in the last quarter. PointState Capital LP bought a new position in Marathon Petroleum in the 2nd quarter valued at about $378,482,000. Finally, FMR LLC grew its position in Marathon Petroleum by 46.6% in the 3rd quarter. FMR LLC now owns 4,706,401 shares of the oil and gas company’s stock valued at $376,371,000 after buying an additional 1,496,676 shares in the last quarter. Institutional investors and hedge funds own 83.16% of the company’s stock.

The stock has a market cap of $42.76 billion, a PE ratio of 16.77, a PEG ratio of 0.84 and a beta of 1.50. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.09 and a current ratio of 1.65.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Thursday, November 1st. The oil and gas company reported $1.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.02. The firm had revenue of $23.13 billion during the quarter, compared to analyst estimates of $23.20 billion. Marathon Petroleum had a net margin of 4.48% and a return on equity of 12.28%. Marathon Petroleum’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.77 EPS. As a group, sell-side analysts expect that Marathon Petroleum Corp will post 5.14 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Wednesday, November 21st will be given a $0.46 dividend. The ex-dividend date is Tuesday, November 20th. This represents a $1.84 dividend on an annualized basis and a yield of 2.89%. Marathon Petroleum’s dividend payout ratio is presently 48.42%.

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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 through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.

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