Marathon Petroleum (NYSE:MPC) Price Target Raised to $375.00

Marathon Petroleum (NYSE:MPC) had its price objective upped by TD Cowen from $357.00 to $375.00 in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has a buy rating on the oil and gas company’s stock.

A number of other research firms have also weighed in on MPC. Piper Sandler reiterated an “overweight” rating and issued a $343.00 price target on shares of Marathon Petroleum in a research report on Thursday, July 23rd. Barclays upped their price objective on shares of Marathon Petroleum from $270.00 to $289.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. The Goldman Sachs Group boosted their price target on shares of Marathon Petroleum from $291.00 to $376.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Scotiabank upped their price target on shares of Marathon Petroleum from $174.00 to $210.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd. Finally, Bank of America raised their price objective on shares of Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $311.25.

Marathon Petroleum Price Performance

NYSE MPC opened at $297.49 on Wednesday. The stock has a market capitalization of $86.85 billion, a P/E ratio of 10.23, a P/E/G ratio of 0.20 and a beta of 0.52. Marathon Petroleum has a 1 year low of $158.00 and a 1 year high of $326.92. The business’s fifty day moving average is $279.39 and its two-hundred day moving average is $241.82. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.73 and a current ratio of 1.25.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, topping the consensus estimate of $14.27 by $3.46. The business had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The company’s revenue was up 53.5% compared to the same quarter last year. During the same period last year, the company posted $3.96 EPS. On average, research analysts forecast that Marathon Petroleum will post 44.54 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be paid a $1.00 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a yield of 1.3%. Marathon Petroleum’s payout ratio is 13.75%.

Insider Buying and Selling

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the sale, the vice president directly owned 16,900 shares of the company’s stock, valued at $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Marathon Petroleum

Several institutional investors and hedge funds have recently modified their holdings of MPC. Brighton Jones LLC boosted its stake in shares of Marathon Petroleum by 30.9% during the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock worth $696,000 after acquiring an additional 1,178 shares in the last quarter. Woodline Partners LP lifted its holdings in Marathon Petroleum by 38.3% in the 1st quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company’s stock worth $3,889,000 after purchasing an additional 7,396 shares during the last quarter. Sivia Capital Partners LLC boosted its position in Marathon Petroleum by 26.6% during the second quarter. Sivia Capital Partners LLC now owns 2,221 shares of the oil and gas company’s stock worth $369,000 after purchasing an additional 466 shares during the period. Marshall Wace LLP bought a new stake in Marathon Petroleum during the second quarter worth approximately $8,505,000. Finally, AXA S.A. grew its holdings in Marathon Petroleum by 46.7% during the second quarter. AXA S.A. now owns 39,675 shares of the oil and gas company’s stock valued at $6,590,000 after purchasing an additional 12,639 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.