Key Points
- Marathon Petroleum VP Michael Henschen II sold 6,336 shares on June 4 at an average price of $268.82, a transaction worth about $1.7 million. After the sale, he still held 16,900 shares, reducing his stake by 27.27%.
- The company recently delivered stronger-than-expected quarterly results, reporting EPS of $1.65 versus the $0.74 consensus estimate and revenue of $34.20 billion, up 8.5% year over year. Analysts now expect Marathon Petroleum to earn 30.05 EPS for the current year.
- Marathon Petroleum also announced a $1.00 quarterly dividend, payable June 10, which annualizes to $4.00 per share and implies a 1.5% yield. The stock has been trading near its 52-week high, and analysts currently rate it a Moderate Buy with an average target price of $268.50.
Marathon Petroleum Corporation (NYSE:MPC - Get Free Report) VP Michael 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 transaction, the vice president owned 16,900 shares in the company, valued at approximately $4,543,058. The trade was a 27.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Marathon Petroleum Price Performance
Shares of NYSE:MPC opened at $265.82 on Tuesday. The company's fifty day moving average is $243.25 and its 200 day moving average is $210.58. Marathon Petroleum Corporation has a 52 week low of $158.00 and a 52 week high of $272.46. The stock has a market cap of $77.60 billion, a PE ratio of 17.35, a PEG ratio of 0.42 and a beta of 0.52. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31.
Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The firm had revenue of $34.20 billion for the quarter, compared to analysts' expectations of $33.42 billion. During the same quarter in the previous year, the company earned ($0.24) earnings per share. The company's revenue for the quarter was up 8.5% compared to the same quarter last year. Research analysts anticipate that Marathon Petroleum Corporation will post 30.05 earnings per share for the current year.
Marathon Petroleum Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be given a $1.00 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.5%. Marathon Petroleum's payout ratio is presently 26.11%.
Institutional Investors Weigh In On Marathon Petroleum
Several hedge funds have recently bought and sold shares of MPC. Navalign LLC bought a new stake in Marathon Petroleum during the fourth quarter worth about $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in Marathon Petroleum during the fourth quarter worth about $31,000. Berbice Capital Management LLC boosted its stake in Marathon Petroleum by 100.0% during the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company's stock worth $33,000 after acquiring an additional 100 shares in the last quarter. WFA of San Diego LLC bought a new stake in Marathon Petroleum during the second quarter worth about $33,000. Finally, Ares Financial Consulting LLC bought a new stake in Marathon Petroleum during the fourth quarter worth about $34,000. Institutional investors own 76.77% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on MPC shares. JPMorgan Chase & Co. boosted their price objective on shares of Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Zacks Research upgraded shares of Marathon Petroleum from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 7th. Scotiabank boosted their price target on shares of Marathon Petroleum from $174.00 to $210.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 22nd. Piper Sandler boosted their price target on shares of Marathon Petroleum from $197.00 to $228.00 and gave the company a "neutral" rating in a research report on Thursday, April 9th. Finally, Citigroup boosted their price target on shares of Marathon Petroleum from $243.00 to $257.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $268.50.
View Our Latest Stock Analysis on Marathon Petroleum
Marathon Petroleum Company Profile
(
Get Free Report)
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.
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