Marathon Petroleum (NYSE:MPC) Upgraded by StockNews.com to “Strong-Buy”

StockNews.com upgraded shares of Marathon Petroleum (NYSE:MPCGet Rating) from a buy rating to a strong-buy rating in a report released on Sunday.

Other equities analysts also recently issued research reports about the stock. Piper Sandler upped their price objective on shares of Marathon Petroleum from $106.00 to $111.00 and gave the company a neutral rating in a report on Tuesday, July 19th. BMO Capital Markets initiated coverage on shares of Marathon Petroleum in a report on Monday, June 13th. They issued an outperform rating and a $135.00 price target on the stock. Royal Bank of Canada increased their price target on shares of Marathon Petroleum from $110.00 to $121.00 and gave the stock an outperform rating in a report on Wednesday, August 3rd. Raymond James increased their price target on shares of Marathon Petroleum from $131.00 to $133.00 and gave the stock a strong-buy rating in a report on Friday. Finally, The Goldman Sachs Group downgraded shares of Marathon Petroleum from a buy rating to a neutral rating and increased their price target for the stock from $90.00 to $102.00 in a report on Monday, May 16th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of $115.67.

Marathon Petroleum Stock Up 1.6 %

NYSE:MPC opened at $100.01 on Friday. Marathon Petroleum has a 1-year low of $56.08 and a 1-year high of $114.35. The company has a 50-day moving average of $92.93 and a 200 day moving average of $90.47. The firm has a market cap of $49.87 billion, a PE ratio of 6.76, a price-to-earnings-growth ratio of 0.21 and a beta of 1.70. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.49 and a quick ratio of 1.10.

Marathon Petroleum (NYSE:MPCGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The oil and gas company reported $10.61 EPS for the quarter, beating the consensus estimate of $4.98 by $5.63. The business had revenue of $54.33 billion during the quarter, compared to analyst estimates of $44.26 billion. Marathon Petroleum had a net margin of 5.09% and a return on equity of 23.85%. The company’s quarterly revenue was up 82.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.67 earnings per share. As a group, research analysts anticipate that Marathon Petroleum will post 21.11 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Wednesday, August 17th will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Tuesday, August 16th. Marathon Petroleum’s payout ratio is 15.68%.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, VP Carl Kristopher Hagedorn sold 14,353 shares of the stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $105.41, for a total value of $1,512,949.73. Following the completion of the sale, the vice president now owns 7,873 shares in the company, valued at approximately $829,892.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.28% of the company’s stock.

Institutional Trading of Marathon Petroleum

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. B. Riley Wealth Management Inc. increased its stake in shares of Marathon Petroleum by 84.7% in the 2nd quarter. B. Riley Wealth Management Inc. now owns 6,049 shares of the oil and gas company’s stock worth $497,000 after acquiring an additional 2,774 shares during the last quarter. First National Bank of Omaha acquired a new stake in shares of Marathon Petroleum during the 2nd quarter worth about $201,000. Intersect Capital LLC increased its position in shares of Marathon Petroleum by 17.5% during the 2nd quarter. Intersect Capital LLC now owns 4,973 shares of the oil and gas company’s stock worth $409,000 after purchasing an additional 742 shares during the last quarter. BDO Wealth Advisors LLC acquired a new stake in shares of Marathon Petroleum during the 2nd quarter worth about $500,000. Finally, Prelude Capital Management LLC increased its position in shares of Marathon Petroleum by 143.8% during the 2nd quarter. Prelude Capital Management LLC now owns 55,112 shares of the oil and gas company’s stock worth $4,531,000 after purchasing an additional 32,508 shares during the last quarter. 78.69% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Company Profile

(Get Rating)

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. 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.

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Analyst Recommendations for Marathon Petroleum (NYSE:MPC)

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