Marathon Petroleum (NYSE:MPC) Reaches New 1-Year High on Analyst Upgrade

Shares of Marathon Petroleum Co. (NYSE:MPCGet Free Report) reached a new 52-week high on Monday after The Goldman Sachs Group raised their price target on the stock from $175.00 to $211.00. The Goldman Sachs Group currently has a buy rating on the stock. Marathon Petroleum traded as high as $201.05 and last traded at $201.05, with a volume of 1659 shares trading hands. The stock had previously closed at $200.17.

A number of other brokerages have also issued reports on MPC. TD Cowen boosted their target price on shares of Marathon Petroleum from $168.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Barclays upped their price objective on shares of Marathon Petroleum from $163.00 to $168.00 and gave the stock an “overweight” rating in a research note on Monday, February 5th. Mizuho upped their price objective on shares of Marathon Petroleum from $159.00 to $201.00 and gave the stock a “neutral” rating in a research note on Friday. Wells Fargo & Company upped their price objective on shares of Marathon Petroleum from $183.00 to $214.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. Finally, Raymond James upped their price objective on shares of Marathon Petroleum from $175.00 to $185.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus price target of $179.33.

Check Out Our Latest Stock Analysis on MPC

Insider Activity

In other news, Director Kim K.W. Rucker sold 1,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $170.35, for a total transaction of $170,350.00. Following the transaction, the director now owns 23,446 shares in the company, valued at $3,994,026.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On Marathon Petroleum

Hedge funds and other institutional investors have recently bought and sold shares of the business. Aspire Private Capital LLC increased its holdings in Marathon Petroleum by 4.4% in the 3rd quarter. Aspire Private Capital LLC now owns 3,456 shares of the oil and gas company’s stock worth $523,000 after buying an additional 145 shares during the period. Brandywine Global Investment Management LLC increased its holdings in Marathon Petroleum by 9.1% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 579,841 shares of the oil and gas company’s stock worth $87,753,000 after buying an additional 48,540 shares during the period. WBI Investments Inc. acquired a new stake in shares of Marathon Petroleum during the 3rd quarter worth approximately $5,522,000. Whittier Trust Co. grew its stake in shares of Marathon Petroleum by 6.4% during the 4th quarter. Whittier Trust Co. now owns 8,925 shares of the oil and gas company’s stock worth $1,324,000 after purchasing an additional 537 shares during the period. Finally, BKM Wealth Management LLC acquired a new stake in shares of Marathon Petroleum during the 4th quarter worth approximately $757,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Down 0.2 %

The firm has a market cap of $72.01 billion, a price-to-earnings ratio of 8.49, a PEG ratio of 2.27 and a beta of 1.50. The business’s 50 day moving average price is $171.43 and its 200 day moving average price is $157.63. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.13 and a current ratio of 1.59.

Marathon Petroleum (NYSE:MPCGet Free Report) last issued its quarterly earnings data on Tuesday, January 30th. The oil and gas company reported $3.98 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $1.77. The business had revenue of $36.26 billion for the quarter, compared to analysts’ expectations of $34.90 billion. Marathon Petroleum had a net margin of 6.44% and a return on equity of 30.58%. The business’s revenue was down 8.9% on a year-over-year basis. During the same quarter last year, the company earned $6.65 EPS. On average, equities analysts forecast that Marathon Petroleum Co. will post 14.68 EPS for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Wednesday, February 21st were given a dividend of $0.825 per share. The ex-dividend date was Tuesday, February 20th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.65%. Marathon Petroleum’s dividend payout ratio (DPR) is 14.02%.

About Marathon Petroleum

(Get Free Report)

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.

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