Marathon Petroleum (NYSE:MPC) Sets New 12-Month High - Here's What Happened

Key Points

• Marathon Petroleum's stock reached a new **52-week high** of $185.50, closing at **$185.18** with a trading volume of **86,450 shares**.
• Following recent **analyst ratings**, Marathon Petroleum has a consensus rating of **"Moderate Buy"** with an average price target of **$186.57** and eight analysts rating it as a **Buy**.
• The company announced a quarterly dividend of **$0.91 per share**, with an annualized yield of **2.0%**, set to be paid on **September 10th**.

Marathon Petroleum Corporation (NYSE:MPC - Get Free Report)'s stock price reached a new 52-week high on Tuesday . The company traded as high as $185.50 and last traded at $185.18, with a volume of 86450 shares changing hands. The stock had previously closed at $181.19.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Scotiabank restated an "outperform" rating on shares of Marathon Petroleum in a report on Friday, July 11th. TD Cowen lowered their target price on shares of Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Dbs Bank upgraded shares of Marathon Petroleum to a "moderate buy" rating in a report on Monday, July 28th. Wolfe Research downgraded shares of Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Finally, Wells Fargo & Company boosted their price objective on shares of Marathon Petroleum from $182.00 to $205.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Eight investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Marathon Petroleum has a consensus rating of "Moderate Buy" and an average price target of $186.57.

Marathon Petroleum Stock Up 2.1%

The firm has a market capitalization of $56.23 billion, a PE ratio of 27.43, a P/E/G ratio of 3.64 and a beta of 0.97. The firm's 50 day moving average price is $172.04 and its two-hundred day moving average price is $156.36. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.74. The firm had revenue of $34.10 billion for the quarter, compared to analysts' expectations of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The firm's quarterly revenue was down 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $4.12 earnings per share. As a group, research analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Wednesday, August 20th. Marathon Petroleum's dividend payout ratio is 54.01%.

Insiders Place Their Bets

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the sale, the insider directly owned 28,700 shares of the company's stock, valued at approximately $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kim K.W. Rucker sold 7,392 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the sale, the director directly owned 18,944 shares in the company, valued at $3,315,200. This trade represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

Institutional Trading of Marathon Petroleum

A number of institutional investors and hedge funds have recently modified their holdings of MPC. Delos Wealth Advisors LLC bought a new position in shares of Marathon Petroleum during the second quarter worth about $25,000. Activest Wealth Management grew its position in shares of Marathon Petroleum by 290.2% during the second quarter. Activest Wealth Management now owns 160 shares of the oil and gas company's stock worth $27,000 after acquiring an additional 119 shares during the last quarter. Fourth Dimension Wealth LLC bought a new position in shares of Marathon Petroleum during the fourth quarter worth about $26,000. NewSquare Capital LLC grew its position in shares of Marathon Petroleum by 103.1% during the second quarter. NewSquare Capital LLC now owns 199 shares of the oil and gas company's stock worth $33,000 after acquiring an additional 101 shares during the last quarter. Finally, WFA of San Diego LLC bought a new position in shares of Marathon Petroleum during the second quarter worth about $33,000. 76.77% of the stock is owned by institutional investors and hedge funds.

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.

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