Marathon Petroleum Co. (NYSE:MPC – Get Rating) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 16,430,000 shares, an increase of 19.2% from the August 15th total of 13,780,000 shares. Based on an average daily volume of 5,920,000 shares, the days-to-cover ratio is presently 2.8 days. Currently, 3.3% of the shares of the company are sold short.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada increased their price target on shares of Marathon Petroleum from $110.00 to $121.00 and gave the stock an “outperform” rating in a report on Wednesday, August 3rd. Credit Suisse Group increased their price target on shares of Marathon Petroleum to $130.00 in a report on Thursday, June 9th. Wells Fargo & Company lowered their price target on shares of Marathon Petroleum from $129.00 to $117.00 and set an “overweight” rating on the stock in a report on Wednesday, August 3rd. Piper Sandler decreased their price objective on shares of Marathon Petroleum from $111.00 to $110.00 and set a “neutral” rating on the stock in a research report on Monday, September 12th. Finally, Barclays upped their price objective on shares of Marathon Petroleum from $94.00 to $112.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 16th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $115.58.
Insider Buying and Selling at Marathon Petroleum
In other Marathon Petroleum news, VP Carl Kristopher Hagedorn sold 14,353 shares of the company’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $105.41, for a total transaction of $1,512,949.73. Following the sale, the vice president now directly owns 7,873 shares of the company’s stock, valued at $829,892.93. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.28% of the company’s stock.
Institutional Inflows and Outflows
Marathon Petroleum Stock Down 0.5 %
Shares of NYSE MPC opened at $95.65 on Friday. Marathon Petroleum has a one year low of $56.08 and a one year high of $114.35. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.49 and a quick ratio of 1.10. The firm’s 50 day simple moving average is $94.44 and its two-hundred day simple moving average is $91.01. The stock has a market capitalization of $47.69 billion, a P/E ratio of 6.46, a PEG ratio of 0.20 and a beta of 1.70.
Marathon Petroleum (NYSE:MPC – Get Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The oil and gas company reported $10.61 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $5.63. Marathon Petroleum had a net margin of 5.09% and a return on equity of 23.85%. The business had revenue of $54.33 billion for the quarter, compared to analysts’ expectations of $44.26 billion. During the same period last year, the business earned $0.67 earnings per share. The business’s quarterly revenue was up 82.1% on a year-over-year basis. As a group, analysts expect that Marathon Petroleum will post 21.15 EPS for the current fiscal year.
Marathon Petroleum Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Wednesday, August 17th were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.43%. The ex-dividend date was Tuesday, August 16th. Marathon Petroleum’s dividend payout ratio is 15.68%.
About Marathon Petroleum
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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