Marathon Petroleum (NYSE:MPC) Price Target Raised to $220.00 at UBS Group

Marathon Petroleum (NYSE:MPC) had its price objective raised by UBS Group from $203.00 to $220.00 in a report released on Friday morning, Marketbeat reports. They currently have a buy rating on the oil and gas company’s stock.

MPC has been the topic of a number of other reports. TD Cowen decreased their price objective on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Evercore ISI upped their price target on Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a research note on Friday, September 19th. Raymond James Financial increased their price objective on Marathon Petroleum from $195.00 to $199.00 and gave the company an “outperform” rating in a research note on Tuesday, September 9th. Scotiabank reiterated an “outperform” rating on shares of Marathon Petroleum in a research note on Friday, July 11th. Finally, Bank of America increased their price objective on Marathon Petroleum from $184.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, September 3rd. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $193.71.

Marathon Petroleum Price Performance

NYSE:MPC opened at $198.85 on Friday. Marathon Petroleum has a 12 month low of $115.10 and a 12 month high of $201.61. The stock has a 50 day moving average of $175.09 and a two-hundred day moving average of $160.37. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. The firm has a market cap of $60.45 billion, a P/E ratio of 29.50, a price-to-earnings-growth ratio of 3.41 and a beta of 0.97.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The business had revenue of $34.10 billion during the quarter, compared to analyst estimates of $31.70 billion. During the same period in the prior year, the business earned $4.12 earnings per share. The business’s revenue was down 11.1% compared to the same quarter last year. On average, analysts expect that Marathon Petroleum will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio is 54.01%.

Insider Buying and Selling at Marathon Petroleum

In related news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the transaction, the insider owned 28,700 shares of the company’s stock, valued at $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kim K.W. Rucker sold 7,392 shares of the stock in a transaction on 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 completion of the transaction, the director directly owned 18,944 shares in the company, valued at $3,315,200. This trade represents a 28.07% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On Marathon Petroleum

Hedge funds have recently made changes to their positions in the company. Delos Wealth Advisors LLC purchased a new position in shares of Marathon Petroleum during the second quarter worth about $25,000. Activest Wealth Management grew its holdings in shares of Marathon Petroleum by 290.2% during the second quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 119 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its holdings in shares of 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 purchased a new position in shares of Marathon Petroleum during the first quarter worth about $32,000. Finally, WPG Advisers LLC purchased a new position in shares of Marathon Petroleum during the first quarter worth about $32,000. Hedge funds and other 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.