Marathon Petroleum (NYSE:MPC) Price Target Raised to $182.00

Marathon Petroleum (NYSE:MPC) had its target price lifted by Morgan Stanley from $160.00 to $182.00 in a report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

MPC has been the topic of several other reports. Scotiabank reiterated an “outperform” rating on shares of Marathon Petroleum in a report on Friday, July 11th. Wells Fargo & Company lifted their target price on Marathon Petroleum from $182.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Piper Sandler reiterated a “neutral” rating and set a $175.00 target price (up from $157.00) on shares of Marathon Petroleum in a report on Thursday, July 10th. Mizuho lifted their target price on 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 lowered Marathon Petroleum from a “strong-buy” rating to an “outperform” rating and lifted their target price for the stock from $180.00 to $200.00 in a report on Tuesday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $183.43.

Marathon Petroleum Stock Up 0.1%

NYSE MPC opened at $174.34 on Wednesday. The stock has a fifty day moving average of $166.52 and a 200-day moving average of $151.21. The stock has a market capitalization of $53.56 billion, a P/E ratio of 24.52, a price-to-earnings-growth ratio of 3.27 and a beta of 0.88. Marathon Petroleum has a 52 week low of $115.10 and a 52 week high of $183.31. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.73 and a current ratio of 1.19.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.16. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. The company had revenue of $31.85 billion during the quarter, compared to analysts’ expectations of $28.91 billion. During the same period last year, the firm earned $2.58 EPS. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, equities research analysts forecast that Marathon Petroleum will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Wednesday, May 21st. Marathon Petroleum’s payout ratio is 51.20%.

Insider Activity at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 7,392 shares of the company’s stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total value of $1,293,600.00. Following the transaction, the director owned 18,944 shares of the company’s stock, valued at approximately $3,315,200. This represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Marathon Petroleum

Several institutional investors have recently made changes to their positions in the stock. Fourth Dimension Wealth LLC bought a new stake in Marathon Petroleum during the fourth quarter worth $26,000. CBIZ Investment Advisory Services LLC lifted its stake in Marathon Petroleum by 1,546.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 201 shares during the last quarter. Hughes Financial Services LLC bought a new stake in Marathon Petroleum during the first quarter worth $32,000. WPG Advisers LLC bought a new stake in Marathon Petroleum during the first quarter worth $32,000. Finally, Decker Retirement Planning Inc. lifted its stake in shares of Marathon Petroleum by 1,621.4% in the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 227 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.

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.