Marathon Petroleum Co. (NYSE:MPC – Get Rating) – Investment analysts at Jefferies Financial Group upped their FY2022 EPS estimates for Marathon Petroleum in a research report issued to clients and investors on Sunday, November 20th. Jefferies Financial Group analyst D. Ailani now forecasts that the oil and gas company will earn $24.32 per share for the year, up from their previous forecast of $23.48. Jefferies Financial Group currently has a “Hold” rating and a $119.00 price objective on the stock. The consensus estimate for Marathon Petroleum’s current full-year earnings is $25.58 per share.
MPC has been the subject of several other research reports. Cowen upped their price target on shares of Marathon Petroleum to $129.00 in a research report on Tuesday, September 20th. Barclays boosted their price objective on shares of Marathon Petroleum from $112.00 to $126.00 and gave the stock an “overweight” rating in a research note on Monday, October 10th. Wells Fargo & Company upped their target price on shares of Marathon Petroleum from $116.00 to $131.00 in a research note on Thursday, November 3rd. Raymond James upped their target price on shares of Marathon Petroleum from $133.00 to $140.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 11th. Finally, StockNews.com initiated coverage on shares of Marathon Petroleum in a research note on Wednesday, October 12th. They issued a “strong-buy” rating for the company. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average price target of $124.71.
Marathon Petroleum Stock Performance
Institutional Investors Weigh In On Marathon Petroleum
A number of hedge funds have recently added to or reduced their stakes in MPC. Renaissance Technologies LLC boosted its position in Marathon Petroleum by 50,346.4% in the second quarter. Renaissance Technologies LLC now owns 2,824,999 shares of the oil and gas company’s stock worth $232,243,000 after purchasing an additional 2,819,399 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Marathon Petroleum by 21.9% in the 1st quarter. Bank of New York Mellon Corp now owns 12,481,878 shares of the oil and gas company’s stock worth $1,067,202,000 after purchasing an additional 2,244,421 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Marathon Petroleum by 22,119.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,227,468 shares of the oil and gas company’s stock valued at $190,449,000 after acquiring an additional 2,217,443 shares during the period. Invesco Ltd. boosted its holdings in Marathon Petroleum by 39.0% during the 1st quarter. Invesco Ltd. now owns 6,695,296 shares of the oil and gas company’s stock valued at $572,449,000 after acquiring an additional 1,878,976 shares during the period. Finally, Pacer Advisors Inc. raised its position in Marathon Petroleum by 5,699.1% during the 3rd quarter. Pacer Advisors Inc. now owns 1,506,025 shares of the oil and gas company’s stock valued at $149,593,000 after purchasing an additional 1,480,055 shares during the last quarter. Institutional investors and hedge funds own 78.69% of the company’s stock.
Insiders Place Their Bets
In related news, SVP Shawn M. Lyon sold 12,053 shares of the business’s stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $121.65, for a total value of $1,466,247.45. Following the completion of the transaction, the senior vice president now directly owns 14,660 shares in the company, valued at approximately $1,783,389. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Shawn M. Lyon sold 12,053 shares of the stock in a transaction on Friday, November 18th. The stock was sold at an average price of $121.65, for a total value of $1,466,247.45. Following the sale, the senior vice president now owns 14,660 shares in the company, valued at approximately $1,783,389. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Hennigan sold 100,000 shares of the stock in a transaction on Monday, November 14th. The stock was sold at an average price of $121.75, for a total value of $12,175,000.00. Following the transaction, the chief executive officer now owns 296,826 shares in the company, valued at approximately $36,138,565.50. The disclosure for this sale can be found here. In the last three months, insiders sold 254,120 shares of company stock valued at $29,475,080. 0.28% of the stock is currently owned by insiders.
Marathon Petroleum Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Wednesday, November 16th will be issued a dividend of $0.75 per share. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.58. This represents a $3.00 annualized dividend and a yield of 2.37%. The ex-dividend date is Tuesday, November 15th. Marathon Petroleum’s payout ratio is currently 13.18%.
Marathon Petroleum Company Profile
Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. 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.
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