Marathon Petroleum (NYSE:MPC) Price Target Raised to $199.00 at Raymond James Financial

Marathon Petroleum (NYSE:MPC) had its price target lifted by Raymond James Financial from $195.00 to $199.00 in a research note issued to investors on Tuesday morning, Marketbeat.com reports. They currently have an outperform rating on the oil and gas company’s stock.

A number of other analysts have also recently commented on the stock. Wall Street Zen upgraded shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Dbs Bank upgraded shares of Marathon Petroleum to a “moderate buy” rating in a research report on Monday, July 28th. TD Cowen lowered their price objective on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Scotiabank restated an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, July 11th. Finally, Piper Sandler upped their price objective on shares of Marathon Petroleum from $175.00 to $182.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $186.50.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $183.09 on Tuesday. The firm has a fifty day moving average of $172.30 and a two-hundred day moving average of $156.55. The stock has a market capitalization of $55.66 billion, a price-to-earnings ratio of 27.16, a PEG ratio of 3.66 and a beta of 0.97. Marathon Petroleum has a 52 week low of $115.10 and a 52 week high of $186.28. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, beating the consensus estimate of $3.22 by $0.74. The company had revenue of $34.10 billion during the quarter, compared to analysts’ expectations of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The business’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.12 EPS. As a group, equities research analysts predict that Marathon Petroleum will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio is currently 54.01%.

Insider Transactions at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 7,392 shares of the company’s stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total value of $1,293,600.00. Following the sale, the director directly owned 18,944 shares of the company’s stock, valued at approximately $3,315,200. This represents a 28.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Molly R. Benson sold 10,879 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the sale, the insider directly owned 28,700 shares in the company, valued at approximately $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Baker Tilly Wealth Management LLC grew its holdings in shares of Marathon Petroleum by 2.8% during the second quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company’s stock valued at $370,000 after buying an additional 60 shares during the last quarter. CHICAGO TRUST Co NA grew its holdings in shares of Marathon Petroleum by 3.9% during the second quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company’s stock valued at $280,000 after buying an additional 63 shares during the last quarter. Werba Rubin Papier Wealth Management grew its holdings in shares of Marathon Petroleum by 4.2% during the second quarter. Werba Rubin Papier Wealth Management now owns 1,577 shares of the oil and gas company’s stock valued at $262,000 after buying an additional 64 shares during the last quarter. AdvisorShares Investments LLC boosted its holdings in Marathon Petroleum by 2.4% during the second quarter. AdvisorShares Investments LLC now owns 2,828 shares of the oil and gas company’s stock worth $470,000 after purchasing an additional 66 shares during the last quarter. Finally, Joseph Group Capital Management boosted its holdings in Marathon Petroleum by 0.3% during the second quarter. Joseph Group Capital Management now owns 21,904 shares of the oil and gas company’s stock worth $3,639,000 after purchasing an additional 67 shares during the last quarter. 76.77% of the stock is 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.