Evercore ISI initiated coverage on shares of Marathon Petroleum (NYSE:MPC – Free Report) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage issued an in-line rating and a $170.00 price target on the oil and gas company’s stock.
Other research analysts have also issued research reports about the stock. Scotiabank decreased their price target on shares of Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Barclays increased their target price on shares of Marathon Petroleum from $141.00 to $159.00 and gave the stock an “overweight” rating in a research report on Monday, May 12th. Wells Fargo & Company increased their target price on shares of Marathon Petroleum from $180.00 to $182.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 11th. Mizuho upped their price target on shares of Marathon Petroleum from $168.00 to $184.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. Finally, Raymond James Financial cut their price target on shares of Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $175.80.
Check Out Our Latest Report on Marathon Petroleum
Marathon Petroleum Stock Down 1.6%
Marathon Petroleum (NYSE:MPC – Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The business had revenue of $31.85 billion for the quarter, compared to analyst estimates of $28.91 billion. During the same quarter in the prior year, the business earned $2.58 EPS. Marathon Petroleum’s quarterly revenue was down 4.1% on a year-over-year basis. On average, analysts forecast that Marathon Petroleum will post 8.47 earnings per share for the current year.
Marathon Petroleum Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were paid a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Wednesday, May 21st. Marathon Petroleum’s payout ratio is 51.20%.
Hedge Funds Weigh In On Marathon Petroleum
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its stake in shares of Marathon Petroleum by 30.9% during the fourth quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock valued at $696,000 after acquiring an additional 1,178 shares during the last quarter. Principal Securities Inc. raised its stake in shares of Marathon Petroleum by 10.3% during the fourth quarter. Principal Securities Inc. now owns 5,550 shares of the oil and gas company’s stock valued at $774,000 after acquiring an additional 516 shares during the last quarter. Sierra Ocean LLC bought a new position in shares of Marathon Petroleum during the fourth quarter valued at $31,000. Americana Partners LLC raised its stake in shares of Marathon Petroleum by 27.7% during the fourth quarter. Americana Partners LLC now owns 3,224 shares of the oil and gas company’s stock valued at $450,000 after acquiring an additional 700 shares during the last quarter. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Marathon Petroleum during the fourth quarter valued at $101,000. Institutional investors own 76.77% of the company’s stock.
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.
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