Marathon Petroleum (NYSE:MPC) Hits New 1-Year High - What's Next?

Key Points

• Marathon Petroleum shares hit a new 52-week high, trading as high as $299.05 after rising about 4.6% on the day. The stock has also been supported by strength above its 50-day and 200-day moving averages.
• Analyst sentiment remains constructive, with recent upgrades and higher price targets from firms including Barclays and Piper Sandler. Overall, the stock carries a Moderate Buy consensus and an average target price of $280.69.
• The company delivered a strong recent earnings beat, posting $1.65 EPS versus $0.74 expected and revenue of $34.2 billion, up 8.5% year over year. Marathon also paid a quarterly dividend of $1.00 per share, equal to a 1.3% annualized yield.

Shares of Marathon Petroleum Corporation (NYSE:MPC - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $299.05 and last traded at $296.8910, with a volume of 2143229 shares trading hands. The stock had previously closed at $283.74.

Analyst Upgrades and Downgrades

MPC has been the subject of a number of analyst reports. Wall Street Zen upgraded Marathon Petroleum from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 10th. Barclays increased their target price on shares of Marathon Petroleum from $270.00 to $289.00 and gave the company an "overweight" rating in a research report on Monday. Piper Sandler raised their price target on shares of Marathon Petroleum from $197.00 to $228.00 and gave the stock a "neutral" rating in a report on Thursday, April 9th. BMO Capital Markets restated an "outperform" rating on shares of Marathon Petroleum in a research report on Friday, June 12th. Finally, Weiss Ratings upgraded shares of Marathon Petroleum from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, July 6th. Ten investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $280.69.

Marathon Petroleum Trading Up 4.6%

The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31. The firm has a 50-day moving average of $257.78 and a 200 day moving average of $223.82. The company has a market cap of $86.67 billion, a P/E ratio of 19.38, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, topping the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The business had revenue of $34.20 billion during the quarter, compared to analysts' expectations of $33.42 billion. During the same quarter last year, the firm posted ($0.24) earnings per share. The firm's revenue was up 8.5% on a year-over-year basis. On average, analysts predict that Marathon Petroleum Corporation will post 32.96 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $4.00 annualized dividend and a dividend yield of 1.3%. Marathon Petroleum's dividend payout ratio (DPR) is 26.11%.

Insider Buying and Selling at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of the business's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the transaction, the vice president owned 16,900 shares in the company, valued at $4,543,058. The trade was a 27.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Marathon Petroleum

Several hedge funds and other institutional investors have recently bought and sold shares of MPC. Norges Bank bought a new position in shares of Marathon Petroleum during the 4th quarter worth about $472,312,000. Capital Wealth Planning LLC raised its stake in Marathon Petroleum by 49,392.0% during the 4th quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company's stock worth $245,157,000 after buying an additional 1,495,097 shares during the period. Pacer Advisors Inc. boosted its holdings in Marathon Petroleum by 3,816.8% in the fourth quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company's stock worth $212,517,000 after acquiring an additional 1,273,386 shares in the last quarter. GHE LLC boosted its holdings in Marathon Petroleum by 1,939.8% in the first quarter. GHE LLC now owns 649,542 shares of the oil and gas company's stock worth $158,605,000 after acquiring an additional 617,699 shares in the last quarter. Finally, Man Group plc grew its stake in Marathon Petroleum by 2,175.0% in the fourth quarter. Man Group plc now owns 568,790 shares of the oil and gas company's stock valued at $92,502,000 after acquiring an additional 543,788 shares during the period. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Company Profile

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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