Traders bought shares of Marathon Petroleum Corp (NYSE:MPC) on weakness during trading 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 equities 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
MPC has been the subject of several research reports. Zacks Investment Research upgraded Marathon Petroleum from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a report on Sunday, July 15th. Royal Bank of Canada reiterated a “buy” rating and issued a $87.00 target price on shares of Marathon Petroleum in a report on Friday, July 27th. JPMorgan Chase & Co. upped their target price on Marathon Petroleum from $98.00 to $102.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Mizuho started coverage on Marathon Petroleum in a report on Wednesday, August 1st. They issued a “buy” rating and a $95.00 target price for the company. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Marathon Petroleum in a research report on Monday, August 27th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $92.38.
The stock has a market capitalization of $31.49 billion, a P/E ratio of 17.68, a price-to-earnings-growth ratio of 0.95 and a beta of 1.50. The company has a quick ratio of 1.04, a current ratio of 1.65 and a debt-to-equity ratio of 0.97.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Wednesday, November 21st will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Tuesday, November 20th. Marathon Petroleum’s payout ratio is 48.42%.
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in Marathon Petroleum by 9.8% during the 3rd quarter. BlackRock Inc. now owns 39,961,377 shares of the oil and gas company’s stock valued at $3,195,712,000 after buying an additional 3,550,450 shares in the last quarter. Bank of New York Mellon Corp increased its position in Marathon Petroleum by 16.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,709,970 shares of the oil and gas company’s stock valued at $696,535,000 after buying an additional 1,203,638 shares in the last quarter. Morgan Stanley increased its position in Marathon Petroleum by 59.5% during the 2nd quarter. Morgan Stanley now owns 5,798,607 shares of the oil and gas company’s stock valued at $406,829,000 after buying an additional 2,162,851 shares in the last quarter. PointState Capital LP acquired a new position in Marathon Petroleum during the 2nd quarter valued at about $378,482,000. Finally, FMR LLC increased its position in Marathon Petroleum by 46.6% during the 3rd quarter. FMR LLC now owns 4,706,401 shares of the oil and gas company’s stock valued at $376,371,000 after buying an additional 1,496,676 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors.
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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