Marathon Petroleum (NYSE:MPC) Given New $290.00 Price Target at BMO Capital Markets

Marathon Petroleum (NYSE:MPC) had its price target boosted by BMO Capital Markets from $255.00 to $290.00 in a report published on Wednesday,MarketScreener reports. The firm currently has an outperform rating on the oil and gas company’s stock.

A number of other equities analysts have also weighed in on MPC. Raymond James Financial reiterated an “outperform” rating on shares of Marathon Petroleum in a research report on Wednesday, May 6th. Mizuho increased their target price on shares of Marathon Petroleum from $205.00 to $224.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 17th. Jefferies Financial Group increased their target price on shares of Marathon Petroleum from $263.00 to $279.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Citigroup increased their target price on shares of Marathon Petroleum from $243.00 to $257.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Finally, Piper Sandler increased their target price on shares of Marathon Petroleum from $197.00 to $228.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus target price of $259.44.

Marathon Petroleum Price Performance

MPC opened at $249.31 on Wednesday. The firm has a market cap of $72.78 billion, a P/E ratio of 16.27, a PEG ratio of 0.34 and a beta of 0.53. The firm has a 50-day moving average of $233.15 and a 200 day moving average of $202.71. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18. Marathon Petroleum has a fifty-two week low of $154.65 and a fifty-two week high of $261.61.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.91. The company had revenue of $34.20 billion during the quarter, compared to analyst estimates of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.24) earnings per share. On average, research analysts expect that Marathon Petroleum will post 28.83 EPS for the current year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Wednesday, May 20th. Marathon Petroleum’s dividend payout ratio (DPR) is 26.11%.

Insider Activity at Marathon Petroleum

In other news, insider Ricky D. Hessling sold 1,810 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $224.78, for a total value of $406,851.80. Following the completion of the transaction, the insider directly owned 10,188 shares in the company, valued at approximately $2,290,058.64. This trade represents a 15.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 4,473 shares of company stock valued at $1,015,428 in the last three months. 0.17% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Marathon Petroleum

A number of large investors have recently modified their holdings of MPC. Navalign LLC bought a new position in shares of Marathon Petroleum in the fourth quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Marathon Petroleum in the fourth quarter valued at approximately $31,000. Berbice Capital Management LLC boosted its position in shares of Marathon Petroleum by 100.0% in the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 100 shares during the period. WFA of San Diego LLC bought a new position in shares of Marathon Petroleum in the second quarter valued at approximately $33,000. Finally, Ares Financial Consulting LLC purchased a new stake in Marathon Petroleum in the fourth quarter valued at approximately $34,000. 76.77% of the stock is currently owned by institutional investors.

Key Headlines Impacting Marathon Petroleum

Here are the key news stories impacting Marathon Petroleum this week:

• Positive Sentiment: BMO Capital Markets raised its price target on Marathon Petroleum to $290 from $255 and kept an outperform rating, signaling higher expectations for the shares. BMO Capital Adjusts Price Target on Marathon Petroleum to 290 From 255, Maintains Outperform Rating
• Positive Sentiment: Marathon Petroleum recently reported a strong Q1 earnings beat, with refining margins improving and a newly announced $5 billion buyback adding support for shareholder returns. MPC Q1 Earnings Beat Estimates on Strong Refining Results
• Positive Sentiment: Higher crude and fuel market volatility tied to Middle East supply disruption is widening refining crack spreads, which can lift earnings for refiners like MPC that process discounted crude into more valuable gasoline and diesel. The Great SPR Arbitrage: An Oil Market Glitch Fuels Sector Gains
• Neutral Sentiment: Analysts have been revisiting Marathon Petroleum’s fair value estimate, which was updated higher to $256.83 per share, reflecting evolving assumptions around oil and natural gas markets. How The Marathon Petroleum (MPC) Story Is Shifting As Analyst Views And Assumptions Evolve
• Neutral Sentiment: MPC is also drawing attention as a trending stock, suggesting investors are actively re-evaluating the name after the latest earnings and analyst updates. Is Trending Stock Marathon Petroleum Corporation (MPC) a Buy Now?
• Negative Sentiment: Any easing of geopolitical tensions, a drop in oil prices, or policy pushback against high fuel prices could compress refining margins and reduce the earnings tailwind for Marathon Petroleum.

About Marathon Petroleum

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.