Marathon Petroleum Corporation (NYSE:MPC - Get Free Report) insider Molly Benson sold 17,196 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $358.57, for a total value of $6,165,969.72. Following the transaction, the insider owned 30,334 shares in the company, valued at $10,876,862.38. The trade was a 36.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Marathon Petroleum Stock Performance
NYSE:MPC opened at $355.31 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. Marathon Petroleum Corporation has a twelve month low of $161.93 and a twelve month high of $367.60. The company has a fifty day moving average of $301.58 and a 200-day moving average of $257.14. The firm has a market capitalization of $103.73 billion, a P/E ratio of 12.21, a P/E/G ratio of 0.23 and a beta of 0.52.
Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $40.87 billion. During the same period in the previous year, the firm posted $3.96 earnings per share. The business's revenue was up 53.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Marathon Petroleum Corporation will post 46.66 EPS for the current year.
Marathon Petroleum Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid 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%.
Analyst Ratings Changes
A number of equities research analysts have commented on MPC shares. BMO Capital Markets reissued an "outperform" rating on shares of Marathon Petroleum in a research note on Friday, June 12th. Citigroup upped their target price on Marathon Petroleum from $303.00 to $318.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Wells Fargo & Company increased their target price on Marathon Petroleum from $344.00 to $359.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. TD Cowen boosted their price target on shares of Marathon Petroleum from $357.00 to $375.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Finally, Bank of America raised their price objective on shares of Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, Marathon Petroleum currently has a consensus rating of "Moderate Buy" and an average target price of $312.50.
Read Our Latest Report on MPC
Institutional Trading of Marathon Petroleum
Several institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System lifted its position in shares of Marathon Petroleum by 36,834.6% during the 2nd quarter. California State Teachers Retirement System now owns 128,810,637 shares of the oil and gas company's stock worth $32,933,016,000 after buying an additional 128,461,884 shares in the last quarter. BlackRock Inc. bought a new position in shares of Marathon Petroleum in the second quarter valued at approximately $6,648,958,000. Bank of New York Mellon Corp purchased a new stake in shares of Marathon Petroleum during the second quarter valued at approximately $1,029,611,000. Norges Bank bought a new stake in Marathon Petroleum during the fourth quarter worth $472,312,000. Finally, Bank of America Corp DE purchased a new position in Marathon Petroleum in the second quarter worth $621,832,000. Hedge funds and other institutional investors own 76.77% of the company's stock.
Marathon Petroleum Company Profile
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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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