Investors Buy Marathon Petroleum (MPC) on Weakness

Investors bought shares of Marathon Petroleum Corp (NYSE:MPC) on weakness during trading hours on Thursday. $132.15 million flowed into the stock on the tick-up and $65.50 million flowed out of the stock on the tick-down, for a money net flow of $66.65 million into the stock. Of all companies tracked, Marathon Petroleum had the 11th highest net in-flow for the day. Marathon Petroleum traded down ($2.12) for the day and closed at $67.70

A number of equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Marathon Petroleum from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a report on Tuesday, October 9th. Wells Fargo & Co reiterated a “buy” rating on shares of Marathon Petroleum in a report on Monday, August 27th. Barclays assumed coverage on shares of Marathon Petroleum in a report on Wednesday, October 3rd. They issued an “overweight” rating and a $125.00 price target on the stock. Citigroup lifted their price target on shares of Marathon Petroleum from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday, September 7th. Finally, Goldman Sachs Group assumed coverage on shares of Marathon Petroleum in a report on Tuesday, October 2nd. They issued a “conviction-buy” rating on the stock. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $92.38.

The company has a current ratio of 1.65, a quick ratio of 1.04 and a debt-to-equity ratio of 0.97. The company has a market cap of $30.84 billion, a P/E ratio of 17.82, a price-to-earnings-growth ratio of 0.93 and a beta of 1.50.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Thursday, November 1st. The oil and gas company reported $1.70 EPS for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.02. Marathon Petroleum had a net margin of 4.48% and a return on equity of 12.28%. The business had revenue of $23.13 billion for the quarter, compared to the consensus estimate of $23.20 billion. During the same quarter last year, the firm posted $1.77 EPS. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. Analysts anticipate that Marathon Petroleum Corp will post 5.16 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Wednesday, November 21st will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Tuesday, November 20th. Marathon Petroleum’s dividend payout ratio is presently 48.42%.

Hedge funds have recently modified their holdings of the company. Rational Advisors LLC increased its stake in Marathon Petroleum by 282.4% during the 3rd quarter. Rational Advisors LLC now owns 1,480 shares of the oil and gas company’s stock worth $118,000 after buying an additional 1,093 shares during the period. NEXT Financial Group Inc purchased a new stake in Marathon Petroleum during the 3rd quarter worth $124,000. Legacy Financial Advisors Inc. purchased a new stake in Marathon Petroleum during the 2nd quarter worth $113,000. Northwest Wealth Management LLC purchased a new stake in Marathon Petroleum during the 2nd quarter worth $116,000. Finally, Norway Savings Bank purchased a new stake in Marathon Petroleum during the 2nd quarter worth $126,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

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Marathon Petroleum Company Profile (NYSE:MPC)

Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.

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