Marathon Petroleum Target of Unusually Large Options Trading (NYSE:MPC)

Marathon Petroleum Co. (NYSE:MPC) was the recipient of some unusual options trading activity on Friday. Stock traders bought 9,616 put options on the stock. This is an increase of approximately 113% compared to the average daily volume of 4,507 put options.

Marathon Petroleum Trading Up 0.9 %

MPC traded up $1.25 during mid-day trading on Friday, hitting $132.90. 1,138,003 shares of the stock were exchanged, compared to its average volume of 2,629,028. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The company has a market cap of $42.71 billion, a PE ratio of 10.53, a PEG ratio of 2.67 and a beta of 1.39. The firm’s fifty day moving average is $152.74 and its two-hundred day moving average is $163.97. Marathon Petroleum has a 1-year low of $130.54 and a 1-year high of $221.11.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.90. The firm had revenue of $35.37 billion during the quarter, compared to analysts’ expectations of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The business’s quarterly revenue was down 14.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $8.14 earnings per share. Equities analysts forecast that Marathon Petroleum will post 9.5 earnings per share for the current fiscal year.

Marathon Petroleum declared that its board has approved a stock repurchase program on Tuesday, November 5th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas company to reacquire up to 10% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Marathon Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th were issued a $0.91 dividend. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, November 20th. This represents a $3.64 annualized dividend and a yield of 2.74%. Marathon Petroleum’s dividend payout ratio (DPR) is 28.84%.

Analyst Ratings Changes

MPC has been the subject of a number of research analyst reports. Piper Sandler cut their price objective on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Barclays reduced their target price on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Tudor, Pickering, Holt & Co. downgraded shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research note on Monday, September 9th. TD Cowen reissued a “buy” rating and issued a $170.00 price objective on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Finally, Tudor Pickering cut Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 9th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $184.00.

Insider Activity

In other news, Director Jeffrey C. Campbell purchased 6,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was acquired at an average cost of $149.61 per share, for a total transaction of $897,660.00. Following the completion of the transaction, the director now directly owns 6,090 shares in the company, valued at $911,124.90. This trade represents a 6,666.67 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Marathon Petroleum

Hedge funds and other institutional investors have recently modified their holdings of the company. WR Wealth Planners LLC increased its stake in Marathon Petroleum by 15.2% in the second quarter. WR Wealth Planners LLC now owns 431 shares of the oil and gas company’s stock valued at $75,000 after purchasing an additional 57 shares during the period. Legacy Advisors LLC grew its stake in shares of Marathon Petroleum by 5.0% in the second quarter. Legacy Advisors LLC now owns 1,238 shares of the oil and gas company’s stock valued at $215,000 after buying an additional 59 shares in the last quarter. Latitude Advisors LLC grew its stake in Marathon Petroleum by 3.6% during the 2nd quarter. Latitude Advisors LLC now owns 1,714 shares of the oil and gas company’s stock valued at $297,000 after purchasing an additional 60 shares in the last quarter. SouthState Corp boosted its holdings in shares of Marathon Petroleum by 1.5% in the 2nd quarter. SouthState Corp now owns 4,122 shares of the oil and gas company’s stock valued at $715,000 after buying an additional 61 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in Marathon Petroleum by 0.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,165 shares of the oil and gas company’s stock worth $1,268,000 after purchasing an additional 61 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

About Marathon Petroleum

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.