Shares of Marathon Petroleum Corporation (NYSE:MPC) have been assigned a consensus rating of “Buy” from the eighteen research firms that are currently covering the company, MarketBeat reports. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $62.25.

MPC has been the subject of several recent research reports. Bank of America Corporation cut shares of Marathon Petroleum Corporation from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 5th. Wells Fargo & Company lowered shares of Marathon Petroleum Corporation from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $65.00 to $56.00 in a report on Tuesday, September 5th. Zacks Investment Research lowered shares of Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Scotiabank reissued a “hold” rating and issued a $55.00 price target on shares of Marathon Petroleum Corporation in a report on Friday, September 1st. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $71.00 price target on shares of Marathon Petroleum Corporation in a report on Thursday, August 31st.

Marathon Petroleum Corporation (NYSE:MPC) last posted its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.29. Marathon Petroleum Corporation had a net margin of 2.35% and a return on equity of 8.51%. The firm had revenue of $19.36 billion during the quarter, compared to analysts’ expectations of $19.38 billion. During the same quarter in the previous year, the company posted $0.58 EPS. Marathon Petroleum Corporation’s revenue was up 17.6% on a year-over-year basis.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Thursday, November 16th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.68%. Marathon Petroleum Corporation’s payout ratio is 49.08%.

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In other Marathon Petroleum Corporation news, VP C. Michael Palmer sold 11,450 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.02, for a total value of $607,079.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.05% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. OMERS ADMINISTRATION Corp grew its position in shares of Marathon Petroleum Corporation by 341.7% during the 2nd quarter. OMERS ADMINISTRATION Corp now owns 53,000 shares of the oil and gas company’s stock worth $2,773,000 after purchasing an additional 41,000 shares in the last quarter. Wilen Investment Management CORP. grew its position in shares of Marathon Petroleum Corporation by 31.3% during the 2nd quarter. Wilen Investment Management CORP. now owns 38,148 shares of the oil and gas company’s stock worth $1,984,000 after purchasing an additional 9,100 shares in the last quarter. Commonwealth Bank of Australia grew its position in shares of Marathon Petroleum Corporation by 1.8% during the 2nd quarter. Commonwealth Bank of Australia now owns 174,826 shares of the oil and gas company’s stock worth $9,147,000 after purchasing an additional 3,097 shares in the last quarter. Fox Run Management L.L.C. grew its position in shares of Marathon Petroleum Corporation by 143.6% during the 2nd quarter. Fox Run Management L.L.C. now owns 26,800 shares of the oil and gas company’s stock worth $1,402,000 after purchasing an additional 15,800 shares in the last quarter. Finally, Heritage Way Advisors LLC grew its position in shares of Marathon Petroleum Corporation by 2.4% during the 2nd quarter. Heritage Way Advisors LLC now owns 36,975 shares of the oil and gas company’s stock worth $1,935,000 after purchasing an additional 850 shares in the last quarter. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

About Marathon Petroleum Corporation

Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.

Analyst Recommendations for Marathon Petroleum Corporation (NYSE:MPC)

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