Marathon Petroleum (NYSE:MPC) Price Target Raised to $185.00

Marathon Petroleum (NYSE:MPC) had its price target lifted by Wells Fargo & Company from $183.00 to $185.00 in a research report report published on Friday,Benzinga reports. The brokerage currently has an overweight rating on the oil and gas company’s stock.

MPC has been the topic of a number of other reports. Raymond James increased their price objective on Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a report on Friday, January 17th. Piper Sandler lowered their target price on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. TD Cowen restated a “buy” rating and issued a $170.00 target price on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Finally, Mizuho lowered their target price on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.21.

Marathon Petroleum Trading Down 1.5 %

Shares of NYSE:MPC opened at $149.62 on Friday. The business’s 50-day moving average is $149.04 and its 200 day moving average is $152.03. Marathon Petroleum has a 1 year low of $130.54 and a 1 year high of $221.11. The firm has a market capitalization of $46.61 billion, a P/E ratio of 15.07, a P/E/G ratio of 3.11 and a beta of 1.39. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.71. The business had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The company’s revenue was down 9.1% on a year-over-year basis. During the same period in the prior year, the company earned $3.98 earnings per share. On average, research analysts predict that Marathon Petroleum will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 19th were issued a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.64 annualized dividend and a dividend yield of 2.43%. Marathon Petroleum’s dividend payout ratio is presently 36.66%.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, insider Ricky D. Hessling bought 2,000 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was bought at an average price of $134.72 per share, with a total value of $269,440.00. Following the completion of the purchase, the insider now directly owns 12,162 shares in the company, valued at $1,638,464.64. The trade was a 19.68 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Evan Bayh bought 1,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were acquired at an average cost of $133.70 per share, with a total value of $133,700.00. Following the purchase, the director now owns 69,305 shares of the company’s stock, valued at $9,266,078.50. The trade was a 1.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Marathon Petroleum

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DSG Capital Advisors LLC acquired a new stake in Marathon Petroleum during the fourth quarter worth $483,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Marathon Petroleum by 25.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 108,060 shares of the oil and gas company’s stock worth $15,074,000 after buying an additional 21,947 shares during the period. NorthCrest Asset Manangement LLC boosted its position in shares of Marathon Petroleum by 7.2% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 32,202 shares of the oil and gas company’s stock worth $4,492,000 after buying an additional 2,172 shares during the period. Copia Wealth Management purchased a new position in shares of Marathon Petroleum during the fourth quarter worth $88,000. Finally, Siemens Fonds Invest GmbH boosted its position in shares of Marathon Petroleum by 49.5% during the fourth quarter. Siemens Fonds Invest GmbH now owns 17,455 shares of the oil and gas company’s stock worth $2,435,000 after buying an additional 5,783 shares during the period. Institutional investors and hedge funds 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.