Marathon Petroleum (NYSE:MPC) Price Target Cut to $190.00 by Analysts at BMO Capital Markets

Marathon Petroleum (NYSE:MPC) had its price target lowered by BMO Capital Markets from $200.00 to $190.00 in a research report sent to investors on Friday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the oil and gas company’s stock.

A number of other research analysts have also recently weighed in on the stock. TD Cowen raised their price objective on shares of Marathon Petroleum from $187.00 to $190.00 and gave the stock a buy rating in a research note on Wednesday, August 7th. Scotiabank reduced their price objective on Marathon Petroleum from $207.00 to $191.00 and set a sector outperform rating on the stock in a research report on Friday, July 12th. StockNews.com lowered Marathon Petroleum from a buy rating to a hold rating in a research note on Friday, June 14th. Morgan Stanley reduced their target price on shares of Marathon Petroleum from $196.00 to $182.00 and set an overweight rating on the stock in a report on Monday, September 16th. Finally, Jefferies Financial Group lifted their price target on shares of Marathon Petroleum from $222.00 to $231.00 and gave the stock a buy rating in a report on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Marathon Petroleum presently has a consensus rating of Moderate Buy and an average price target of $196.14.

Marathon Petroleum Price Performance

NYSE MPC traded down $2.86 during mid-day trading on Friday, hitting $171.98. The stock had a trading volume of 2,241,691 shares, compared to its average volume of 2,697,056. The company has a 50 day simple moving average of $169.69 and a 200 day simple moving average of $178.52. The company has a market cap of $60.59 billion, a price-to-earnings ratio of 8.59, a P/E/G ratio of 2.59 and a beta of 1.37. Marathon Petroleum has a 52-week low of $139.93 and a 52-week high of $221.11. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. The business had revenue of $38.36 billion during the quarter, compared to analysts’ expectations of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $5.32 earnings per share. Equities analysts forecast that Marathon Petroleum will post 10.56 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were paid a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio is currently 16.48%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. NBC Securities Inc. lifted its holdings in shares of Marathon Petroleum by 0.9% during the 1st quarter. NBC Securities Inc. now owns 6,333 shares of the oil and gas company’s stock valued at $1,276,000 after acquiring an additional 55 shares in the last quarter. Guidance Capital Inc. boosted its position in shares of Marathon Petroleum by 1.1% in the first quarter. Guidance Capital Inc. now owns 5,483 shares of the oil and gas company’s stock worth $1,135,000 after buying an additional 57 shares during the period. WR Wealth Planners LLC grew its stake in shares of 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 buying an additional 57 shares in the last quarter. Bruce G. Allen Investments LLC raised its holdings in shares of Marathon Petroleum by 27.3% during the 1st quarter. Bruce G. Allen Investments LLC now owns 275 shares of the oil and gas company’s stock valued at $55,000 after buying an additional 59 shares during the period. Finally, First Financial Corp IN lifted its position in Marathon Petroleum by 2.5% during the 1st quarter. First Financial Corp IN now owns 2,429 shares of the oil and gas company’s stock worth $489,000 after acquiring an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

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.