Marathon Petroleum Co. (NYSE:MPC) Short Interest Update

Marathon Petroleum Co. (NYSE:MPCGet 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

Several institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp grew its holdings in shares of Marathon Petroleum by 0.9% in the first quarter. State Street Corp now owns 41,765,374 shares of the oil and gas company’s stock worth $3,570,939,000 after purchasing an additional 371,647 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Marathon Petroleum by 21.9% in the first quarter. Bank of New York Mellon Corp now owns 12,481,878 shares of the oil and gas company’s stock worth $1,067,202,000 after acquiring an additional 2,244,421 shares during the period. Invesco Ltd. lifted its stake in Marathon Petroleum by 39.0% in the first quarter. Invesco Ltd. now owns 6,695,296 shares of the oil and gas company’s stock worth $572,449,000 after acquiring an additional 1,878,976 shares during the period. Norges Bank purchased a new stake in Marathon Petroleum in the fourth quarter worth $411,853,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Marathon Petroleum by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,870,128 shares of the oil and gas company’s stock worth $247,650,000 after acquiring an additional 21,024 shares during the period. Institutional investors own 78.69% of the company’s stock.

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:MPCGet 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

(Get Rating)

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.

Featured Stories

Receive News & Ratings for Marathon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.