Marathon Petroleum (NYSE:MPC) Trading Down 5.3%

Shares of Marathon Petroleum Co. (NYSE:MPC) were down 5.3% on Tuesday . The company traded as low as $189.57 and last traded at $189.92. Approximately 1,023,454 shares traded hands during trading, a decline of 62% from the average daily volume of 2,722,316 shares. The stock had previously closed at $200.51.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MPC shares. Citigroup started coverage on shares of Marathon Petroleum in a report on Wednesday, January 24th. They set a “neutral” rating on the stock. Piper Sandler raised their price objective on shares of Marathon Petroleum from $159.00 to $204.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Bank of America lifted their target price on shares of Marathon Petroleum from $185.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, March 15th. The Goldman Sachs Group lifted their target price on shares of Marathon Petroleum from $175.00 to $211.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Marathon Petroleum from $172.00 to $186.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Five analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $193.62.

Marathon Petroleum Stock Down 1.5 %

The company has a current ratio of 1.59, a quick ratio of 1.13 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $64.49 billion, a price-to-earnings ratio of 8.94, a PEG ratio of 1.48 and a beta of 1.55. The firm’s 50 day simple moving average is $193.61 and its 200-day simple moving average is $167.76.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.53 by $0.25. The company had revenue of $32.71 billion for the quarter, compared to analyst estimates of $32.07 billion. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.44%. The business’s revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned $6.09 EPS. On average, sell-side analysts anticipate that Marathon Petroleum Co. will post 20.49 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be given a dividend of $0.825 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $3.30 annualized dividend and a dividend yield of 1.84%. Marathon Petroleum’s payout ratio is currently 16.48%.

Marathon Petroleum announced that its board has approved a stock repurchase program on Tuesday, April 30th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase up to 7.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 1,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $170.35, for a total value of $170,350.00. Following the transaction, the director now directly owns 23,446 shares in the company, valued at approximately $3,994,026.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Marathon Petroleum during the 4th quarter worth approximately $25,000. ICA Group Wealth Management LLC acquired a new stake in Marathon Petroleum during the 4th quarter worth approximately $30,000. Vima LLC acquired a new stake in Marathon Petroleum during the 4th quarter worth approximately $30,000. Manchester Capital Management LLC increased its position in Marathon Petroleum by 97.2% during the 4th quarter. Manchester Capital Management LLC now owns 215 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 106 shares in the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new stake in Marathon Petroleum in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

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.