Marathon Petroleum (NYSE:MPC) Reaches New 12-Month Low – What’s Next?

Marathon Petroleum Co. (NYSE:MPC) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $129.77 and last traded at $130.31, with a volume of 2106355 shares trading hands. The stock had previously closed at $147.90.

Wall Street Analyst Weigh In

MPC has been the topic of several research analyst reports. Wells Fargo & Company lifted their price target on Marathon Petroleum from $183.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Barclays lifted their target price on shares of Marathon Petroleum from $159.00 to $161.00 and gave the company an “overweight” rating in a report on Friday, March 14th. TD Cowen reiterated a “buy” rating and set a $170.00 price target on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Piper Sandler dropped their price objective on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Finally, Mizuho decreased their target price on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $180.29.

Marathon Petroleum Stock Down 5.9 %

The firm’s 50-day simple moving average is $147.41 and its 200 day simple moving average is $150.77. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The company has a market capitalization of $37.70 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of 3.11 and a beta of 1.39.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.71. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The company had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. During the same period in the prior year, the business posted $3.98 earnings per share. The firm’s revenue for the quarter was down 9.1% compared to the same quarter last year. As a group, equities research analysts forecast that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend was Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio is currently 36.66%.

Insiders Place Their Bets

In other news, Director Evan Bayh acquired 1,000 shares of Marathon Petroleum stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average price of $133.70 per share, with a total value of $133,700.00. Following the completion of the purchase, the director now owns 69,305 shares of the company’s stock, valued at approximately $9,266,078.50. This represents a 1.46 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ricky D. Hessling acquired 2,000 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $134.72 per share, for a total transaction of $269,440.00. Following the acquisition, the insider now directly owns 12,162 shares of the company’s stock, valued at approximately $1,638,464.64. The trade was a 19.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.21% of the stock is currently owned by company insiders.

Institutional Trading of Marathon Petroleum

Institutional investors have recently made changes to their positions in the stock. SWS Partners boosted its holdings in Marathon Petroleum by 19.0% in the fourth quarter. SWS Partners now owns 17,577 shares of the oil and gas company’s stock valued at $2,452,000 after acquiring an additional 2,806 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Marathon Petroleum by 1,204.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company’s stock worth $75,757,000 after purchasing an additional 501,441 shares during the period. Wilmington Savings Fund Society FSB lifted its stake in shares of Marathon Petroleum by 747.3% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company’s stock valued at $3,466,000 after purchasing an additional 18,764 shares in the last quarter. Greatmark Investment Partners Inc. grew its holdings in shares of Marathon Petroleum by 3.5% during the 4th quarter. Greatmark Investment Partners Inc. now owns 161,171 shares of the oil and gas company’s stock worth $22,483,000 after purchasing an additional 5,476 shares during the period. Finally, TCTC Holdings LLC increased its position in Marathon Petroleum by 3.3% during the 4th quarter. TCTC Holdings LLC now owns 91,256 shares of the oil and gas company’s stock worth $12,730,000 after purchasing an additional 2,892 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

About Marathon Petroleum

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.