Marathon Petroleum (NYSE:MPC) Cut to “Outperform” at Raymond James Financial

Raymond James Financial lowered shares of Marathon Petroleum (NYSE:MPC) from a strong-buy rating to an outperform rating in a research report sent to investors on Tuesday morning, Marketbeat reports. The brokerage currently has $200.00 price objective on the oil and gas company’s stock, up from their previous price objective of $180.00.

A number of other brokerages also recently issued reports on MPC. Wall Street Zen raised Marathon Petroleum from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Wolfe Research downgraded shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a report on Monday. Morgan Stanley decreased their price target on Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Scotiabank reaffirmed an “outperform” rating on shares of Marathon Petroleum in a research note on Friday, July 11th. Finally, TD Cowen increased their target price on Marathon Petroleum from $152.00 to $163.00 and gave the stock a “buy” rating in a research note on Tuesday, June 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Hold” and an average target price of $184.53.

Marathon Petroleum Trading Up 1.2%

MPC opened at $174.39 on Tuesday. The firm has a market capitalization of $53.57 billion, a price-to-earnings ratio of 24.53, a price-to-earnings-growth ratio of 3.34 and a beta of 0.88. The company’s 50 day simple moving average is $166.05 and its two-hundred day simple moving average is $150.97. Marathon Petroleum has a 1-year low of $115.10 and a 1-year high of $183.31. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.19 and a quick ratio of 0.73.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. The company had revenue of $31.85 billion for the quarter, compared to analyst estimates of $28.91 billion. During the same quarter in the previous year, the company posted $2.58 earnings per share. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. Analysts expect that Marathon Petroleum will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Wednesday, May 21st. Marathon Petroleum’s payout ratio is 51.20%.

Insider Buying and Selling at Marathon Petroleum

In related news, Director Kim K.W. Rucker sold 7,392 shares of the firm’s stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the transaction, the director owned 18,944 shares in the company, valued at $3,315,200. This trade represents a 28.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.21% of the company’s stock.

Institutional Trading of Marathon Petroleum

Several institutional investors and hedge funds have recently added to or reduced their stakes in MPC. Fourth Dimension Wealth LLC purchased a new stake in shares of Marathon Petroleum during the fourth quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC raised its position in Marathon Petroleum by 1,546.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock worth $31,000 after buying an additional 201 shares during the last quarter. Hughes Financial Services LLC acquired a new stake in shares of Marathon Petroleum in the 1st quarter worth $32,000. WPG Advisers LLC purchased a new stake in shares of Marathon Petroleum in the first quarter valued at about $32,000. Finally, Decker Retirement Planning Inc. increased its stake in shares of Marathon Petroleum by 1,621.4% during the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 227 shares during the period. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Company Profile

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.