Short Interest in Marathon Petroleum Co. (NYSE:MPC) Rises By 15.7%

Marathon Petroleum Co. (NYSE:MPC) was the recipient of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 7,960,000 shares, an increase of 15.7% from the November 15th total of 6,880,000 shares. Based on an average daily trading volume, of 2,580,000 shares, the short-interest ratio is currently 3.1 days. Approximately 2.5% of the shares of the company are sold short.

Marathon Petroleum Trading Down 5.0 %

Shares of MPC opened at $138.22 on Tuesday. Marathon Petroleum has a fifty-two week low of $137.89 and a fifty-two week high of $221.11. The stock has a fifty day moving average of $154.40 and a two-hundred day moving average of $164.67. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The company has a market capitalization of $44.42 billion, a PE ratio of 10.95, a price-to-earnings-growth ratio of 2.67 and a beta of 1.39.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.90. The firm had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The firm’s quarterly revenue was down 14.9% on a year-over-year basis. During the same period last year, the company earned $8.14 EPS. As a group, analysts forecast that Marathon Petroleum will post 9.5 EPS for the current year.

Marathon Petroleum declared that its board has approved a share repurchase program on Tuesday, November 5th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the oil and gas company to reacquire up to 10% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Marathon Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th were paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date was Wednesday, November 20th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s payout ratio is 28.84%.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell bought 6,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was acquired at an average cost of $149.61 per share, with a total value of $897,660.00. Following the purchase, the director now owns 6,090 shares in the company, valued at approximately $911,124.90. This represents a 6,666.67 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Marathon Petroleum

A number of large investors have recently bought and sold shares of the business. Gladius Capital Management LP acquired a new stake in Marathon Petroleum in the third quarter worth about $26,000. MeadowBrook Investment Advisors LLC grew its stake in Marathon Petroleum by 88.9% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 80 shares in the last quarter. True Wealth Design LLC boosted its stake in shares of Marathon Petroleum by 672.7% during the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 148 shares during the period. Harbor Capital Advisors Inc. bought a new stake in shares of Marathon Petroleum in the 3rd quarter valued at approximately $30,000. Finally, Darwin Wealth Management LLC bought a new position in shares of Marathon Petroleum in the 3rd quarter valued at approximately $33,000. Institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. reduced their target price on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Mizuho reduced their price objective on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research note on Monday. Tudor Pickering lowered shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. Barclays reduced their price target on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Finally, Citigroup lowered their price target on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $184.00.

About Marathon Petroleum

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. 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.