Marathon Petroleum (NYSE:MPC) Given New $230.00 Price Target at Raymond James

Marathon Petroleum (NYSE:MPCFree Report) had its price objective trimmed by Raymond James from $235.00 to $230.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has a strong-buy rating on the oil and gas company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. StockNews.com cut shares of Marathon Petroleum from a strong-buy rating to a buy rating in a report on Thursday, May 9th. The Goldman Sachs Group increased their target price on shares of Marathon Petroleum from $175.00 to $211.00 and gave the company a buy rating in a research note on Friday, March 22nd. Wells Fargo & Company increased their price target on shares of Marathon Petroleum from $214.00 to $227.00 and gave the stock an overweight rating in a research report on Thursday, April 4th. Scotiabank increased their price target on shares of Marathon Petroleum from $175.00 to $207.00 and gave the stock a sector outperform rating in a research report on Thursday, April 11th. Finally, Piper Sandler dropped their price objective on shares of Marathon Petroleum from $204.00 to $190.00 and set a neutral rating for the company in a report on Tuesday, May 14th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $194.23.

View Our Latest Research Report on MPC

Marathon Petroleum Trading Down 0.2 %

NYSE MPC opened at $172.11 on Thursday. Marathon Petroleum has a 1-year low of $104.32 and a 1-year high of $221.11. The company has a current ratio of 1.43, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $60.64 billion, a PE ratio of 8.60, a price-to-earnings-growth ratio of 1.45 and a beta of 1.55. The firm’s fifty day simple moving average is $192.45 and its 200-day simple moving average is $171.81.

Marathon Petroleum (NYSE:MPCGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.25. The business had revenue of $32.71 billion for the quarter, compared to the consensus estimate of $32.07 billion. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. Marathon Petroleum’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the prior year, the business posted $6.09 earnings per share. As a group, sell-side analysts anticipate that Marathon Petroleum will post 19.88 earnings per share for the current fiscal year.

Marathon Petroleum announced that its Board of Directors has approved a share repurchase program on Tuesday, April 30th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to purchase up to 7.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be issued a dividend of $0.825 per share. The ex-dividend date is Wednesday, May 15th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.92%. Marathon Petroleum’s payout ratio is 16.48%.

Institutional Investors Weigh In On Marathon Petroleum

Hedge funds and other institutional investors have recently made changes to their positions in the stock. NBC Securities Inc. increased its stake in Marathon Petroleum by 0.9% in the 1st quarter. NBC Securities Inc. now owns 6,333 shares of the oil and gas company’s stock valued at $1,276,000 after buying an additional 55 shares during the last quarter. Guidance Capital Inc. increased its stake in Marathon Petroleum by 1.1% in the 1st quarter. Guidance Capital Inc. now owns 5,483 shares of the oil and gas company’s stock valued at $1,135,000 after buying an additional 57 shares during the last quarter. Bruce G. Allen Investments LLC increased its stake in Marathon Petroleum by 27.3% in the 1st quarter. Bruce G. Allen Investments LLC now owns 275 shares of the oil and gas company’s stock valued at $55,000 after buying an additional 59 shares during the last quarter. First Financial Corp IN increased its stake in Marathon Petroleum by 2.5% in the 1st quarter. First Financial Corp IN now owns 2,429 shares of the oil and gas company’s stock valued at $489,000 after buying an additional 59 shares during the last quarter. Finally, D Orazio & Associates Inc. increased its stake in Marathon Petroleum by 3.2% in the 1st quarter. D Orazio & Associates Inc. now owns 1,894 shares of the oil and gas company’s stock valued at $382,000 after buying an additional 59 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Company Profile

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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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