Marathon Petroleum (NYSE:MPC) Stock Price Down 4.3% – Here’s What Happened

Marathon Petroleum Co. (NYSE:MPC) was down 4.3% during mid-day trading on Wednesday . The stock traded as low as $135.66 and last traded at $136.43. Approximately 352,305 shares were traded during trading, a decline of 87% from the average daily volume of 2,776,035 shares. The stock had previously closed at $142.62.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. TD Cowen reaffirmed a “buy” rating and issued a $170.00 target price on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Mizuho cut their price objective on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Raymond James increased their target price on shares of Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 17th. Wells Fargo & Company lifted their price target on shares of Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Finally, Barclays dropped their price objective 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.27.

Marathon Petroleum Trading Up 1.6 %

The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The company has a market cap of $44.93 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 3.11 and a beta of 1.41. The firm has a 50-day moving average price of $148.57 and a 200 day moving average price of $154.69.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The company had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $31.94 billion. During the same period in the prior year, the company earned $3.98 earnings per share. The firm’s revenue was down 9.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 36.66%.

Insider Buying and Selling

In other news, Director Evan Bayh bought 1,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was purchased at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the transaction, the director now owns 69,305 shares in the company, valued at approximately $9,266,078.50. This trade represents a 1.46 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On Marathon Petroleum

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. OLD Second National Bank of Aurora grew its position in Marathon Petroleum by 7.2% in the fourth quarter. OLD Second National Bank of Aurora now owns 994 shares of the oil and gas company’s stock worth $139,000 after buying an additional 67 shares during the last quarter. Nixon Peabody Trust Co. lifted its holdings in shares of Marathon Petroleum by 3.4% in the fourth quarter. Nixon Peabody Trust Co. now owns 2,068 shares of the oil and gas company’s stock valued at $288,000 after purchasing an additional 68 shares in the last quarter. Lake Street Advisors Group LLC boosted its position in shares of Marathon Petroleum by 1.6% in the fourth quarter. Lake Street Advisors Group LLC now owns 4,271 shares of the oil and gas company’s stock worth $596,000 after buying an additional 69 shares during the period. American Trust raised its position in Marathon Petroleum by 5.3% during the third quarter. American Trust now owns 1,397 shares of the oil and gas company’s stock valued at $228,000 after buying an additional 70 shares during the period. Finally, DT Investment Partners LLC lifted its stake in Marathon Petroleum by 21.5% in the 4th quarter. DT Investment Partners LLC now owns 395 shares of the oil and gas company’s stock worth $55,000 after acquiring an additional 70 shares in the last quarter. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Company Profile

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.