Marathon Petroleum (NYSE:MPC) Given New $110.00 Price Target at Piper Sandler

Marathon Petroleum (NYSE:MPCGet Rating) had its price objective decreased by Piper Sandler from $111.00 to $110.00 in a research report sent to investors on Monday, The Fly reports. Piper Sandler currently has a neutral rating on the oil and gas company’s stock.

A number of other analysts also recently issued reports on MPC. JPMorgan Chase & Co. lifted their price target on Marathon Petroleum from $95.00 to $109.00 in a research report on Tuesday, May 17th. Wells Fargo & Company dropped their price target on Marathon Petroleum from $129.00 to $117.00 and set an overweight rating for the company in a research report on Wednesday, August 3rd. Royal Bank of Canada raised their price objective on Marathon Petroleum from $110.00 to $121.00 and gave the company an outperform rating in a report on Wednesday, August 3rd. Morgan Stanley raised their price objective on Marathon Petroleum from $115.00 to $120.00 and gave the company an overweight rating in a report on Friday, July 15th. Finally, Credit Suisse Group raised their price objective on Marathon Petroleum to $130.00 in a report on Thursday, June 9th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Marathon Petroleum currently has a consensus rating of Buy and an average price target of $115.58.

Marathon Petroleum Stock Down 0.1 %

Shares of NYSE MPC opened at $99.94 on Monday. Marathon Petroleum has a 52 week low of $56.08 and a 52 week high of $114.35. The business has a 50-day simple moving average of $92.93 and a two-hundred day simple moving average of $90.47. The company has a quick ratio of 1.10, a current ratio of 1.49 and a debt-to-equity ratio of 0.79. The company has a market cap of $49.83 billion, a P/E ratio of 6.75, a P/E/G ratio of 0.21 and a beta of 1.70.

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

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Wednesday, August 17th were paid a dividend of $0.58 per share. The ex-dividend date was Tuesday, August 16th. This represents a $2.32 annualized dividend and a dividend yield of 2.32%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 15.68%.

Insider Activity

In other news, VP Carl Kristopher Hagedorn sold 14,353 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $105.41, for a total transaction of $1,512,949.73. Following the transaction, the vice president now directly owns 7,873 shares of the company’s stock, valued at $829,892.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.28% of the company’s stock.

Institutional Investors Weigh In On Marathon Petroleum

Hedge funds have recently made changes to their positions in the company. Stratos Wealth Partners LTD. boosted its position in shares of Marathon Petroleum by 3.6% during the first quarter. Stratos Wealth Partners LTD. now owns 23,843 shares of the oil and gas company’s stock valued at $2,039,000 after purchasing an additional 824 shares in the last quarter. FDx Advisors Inc. boosted its holdings in Marathon Petroleum by 39.7% in the first quarter. FDx Advisors Inc. now owns 4,505 shares of the oil and gas company’s stock worth $385,000 after acquiring an additional 1,280 shares in the last quarter. Checchi Capital Advisers LLC boosted its holdings in Marathon Petroleum by 10.1% in the first quarter. Checchi Capital Advisers LLC now owns 8,815 shares of the oil and gas company’s stock worth $754,000 after acquiring an additional 810 shares in the last quarter. Vanguard Capital Wealth Advisors bought a new stake in Marathon Petroleum in the first quarter worth $570,000. Finally, Stephens Inc. AR boosted its holdings in Marathon Petroleum by 6.7% in the first quarter. Stephens Inc. AR now owns 17,377 shares of the oil and gas company’s stock worth $1,486,000 after acquiring an additional 1,085 shares in the last quarter. 78.69% of the stock is currently owned by institutional investors.

About Marathon Petroleum

(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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