Marathon Petroleum (NYSE:MPC) Hits New 52-Week High - Still a Buy?

Key Points

• Shares reached a new 52-week high, trading as high as $245.33 and last at $246.45, with a market cap of about $72.46B and a P/E of 18.35.
• Analyst views are mixed but leaning positive—Goldman Sachs raised its target to $239 and gave a buy, while others are neutral or hold; the consensus rating is Moderate Buy with a consensus target of $205.44, which is below the current price.
• Fundamentals show an EPS beat ($4.07 vs. $3.73) on $32.57B revenue; the company pays a $1.00 quarterly dividend (annual $4.00, yield ~1.6%), has 76.77% institutional ownership, and insiders have recently sold shares.

Shares of Marathon Petroleum Corporation (NYSE:MPC - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $245.33 and last traded at $246.4530, with a volume of 771190 shares. The stock had previously closed at $232.53.

Wall Street Analysts Forecast Growth

MPC has been the topic of several analyst reports. The Goldman Sachs Group boosted their price target on shares of Marathon Petroleum from $211.00 to $239.00 and gave the company a "buy" rating in a report on Thursday, March 12th. Piper Sandler reduced their price objective on shares of Marathon Petroleum from $231.00 to $184.00 and set a "neutral" rating for the company in a report on Thursday, January 8th. Weiss Ratings cut shares of Marathon Petroleum from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday. Wells Fargo & Company increased their price target on shares of Marathon Petroleum from $213.00 to $217.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 4th. Finally, BMO Capital Markets raised their price target on shares of Marathon Petroleum from $225.00 to $230.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 3rd. Ten equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, Marathon Petroleum has a consensus rating of "Moderate Buy" and a consensus target price of $205.44.

Marathon Petroleum Price Performance

The stock has a fifty day moving average of $200.16 and a two-hundred day moving average of $190.59. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $72.46 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 1.39 and a beta of 0.69.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 3rd. The oil and gas company reported $4.07 EPS for the quarter, topping analysts' consensus estimates of $3.73 by $0.34. Marathon Petroleum had a return on equity of 13.90% and a net margin of 2.99%.The company had revenue of $32.57 billion for the quarter, compared to analyst estimates of $30.89 billion. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The business's revenue was down .1% on a year-over-year basis. As a group, equities research analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 18th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $4.00 dividend on an annualized basis and a yield of 1.6%. Marathon Petroleum's dividend payout ratio is currently 29.96%.

Insiders Place Their Bets

In other Marathon Petroleum news, insider Ricky D. Hessling sold 1,626 shares of the firm's stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $228.18, for a total value of $371,020.68. Following the completion of the sale, the insider owned 7,525 shares in the company, valued at approximately $1,717,054.50. This trade represents a 17.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 4,473 shares of company stock valued at $1,015,428. Company insiders own 0.17% of the company's stock.

Institutional Trading of Marathon Petroleum

Several hedge funds have recently modified their holdings of the stock. Norges Bank bought a new position in Marathon Petroleum in the second quarter valued at about $527,197,000. Capital Wealth Planning LLC raised its holdings 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 purchasing an additional 1,495,097 shares during the last quarter. Pacer Advisors Inc. lifted its position in Marathon Petroleum by 3,816.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company's stock valued at $212,517,000 after purchasing an additional 1,273,386 shares during the period. Boston Partners boosted its stake in shares of Marathon Petroleum by 13.1% in the 2nd quarter. Boston Partners now owns 6,163,737 shares of the oil and gas company's stock valued at $1,024,395,000 after purchasing an additional 715,223 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its stake in shares of Marathon Petroleum by 27,979.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 659,595 shares of the oil and gas company's stock valued at $109,565,000 after purchasing an additional 657,246 shares during the last quarter. 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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