Mizuho Cuts Marathon Petroleum (NYSE:MPC) Price Target to $193.00

Marathon Petroleum (NYSE:MPC) had its target price reduced by Mizuho from $198.00 to $193.00 in a research report report published on Monday morning, Benzinga reports. Mizuho currently has a neutral rating on the oil and gas company’s stock.

MPC has been the subject of several other research reports. Wolfe Research began coverage on shares of Marathon Petroleum in a research note on Thursday, July 18th. They set an outperform rating and a $200.00 price target for the company. Tudor, Pickering, Holt & Co. lowered shares of Marathon Petroleum from a buy rating to a sell rating in a research note on Monday, September 9th. Tudor Pickering lowered shares of Marathon Petroleum from a strong-buy rating to a strong sell rating in a research note on Monday, September 9th. Wells Fargo & Company reduced their price objective on shares of Marathon Petroleum from $223.00 to $196.00 and set an overweight rating for the company in a research note on Friday, July 12th. Finally, Barclays reduced their price objective on shares of Marathon Petroleum from $195.00 to $185.00 and set an overweight rating for the company in a research note on Monday, July 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and an average target price of $199.46.

Marathon Petroleum Trading Up 0.5 %

Shares of MPC stock opened at $164.67 on Monday. The company has a 50 day moving average of $169.97 and a 200-day moving average of $179.93. 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 has a 12-month low of $139.32 and a 12-month high of $221.11. The firm has a market cap of $58.02 billion, a P/E ratio of 8.23, a PEG ratio of 2.09 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The company had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. During the same quarter last year, the business posted $5.32 EPS. Marathon Petroleum’s quarterly revenue was up 4.2% compared to the same quarter last year. Sell-side analysts anticipate that Marathon Petroleum will post 12.68 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were issued a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 2.00%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s payout ratio is 16.48%.

Institutional Trading of Marathon Petroleum

A number of hedge funds have recently made changes to their positions in the stock. Raymond James & Associates lifted its holdings in shares of Marathon Petroleum by 2.6% during the 2nd quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company’s stock worth $743,690,000 after acquiring an additional 107,915 shares during the last quarter. Norges Bank bought a new stake in shares of Marathon Petroleum during the 4th quarter worth $500,685,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Marathon Petroleum by 1.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company’s stock worth $620,815,000 after acquiring an additional 31,100 shares during the last quarter. Boston Partners lifted its holdings in shares of Marathon Petroleum by 0.3% during the 1st quarter. Boston Partners now owns 2,773,050 shares of the oil and gas company’s stock worth $558,390,000 after acquiring an additional 8,476 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of Marathon Petroleum by 8.5% during the 2nd quarter. Pacer Advisors Inc. now owns 2,669,815 shares of the oil and gas company’s stock worth $463,160,000 after acquiring an additional 209,270 shares during the last quarter. 76.77% of the stock is owned by institutional investors.

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.