Marathon Petroleum (NYSE:MPC) Price Target Raised to $376.00 at The Goldman Sachs Group

Marathon Petroleum (NYSE:MPC) had its target price increased by The Goldman Sachs Group from $291.00 to $376.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the oil and gas company’s stock.

MPC has been the subject of several other reports. UBS Group reiterated a “buy” rating and issued a $321.00 price objective on shares of Marathon Petroleum in a report on Friday, July 10th. TD Cowen upped their target price on shares of Marathon Petroleum from $315.00 to $357.00 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. raised their price target on shares of Marathon Petroleum from $235.00 to $257.00 in a report on Wednesday, May 6th. BMO Capital Markets reissued an “outperform” rating on shares of Marathon Petroleum in a report on Friday, June 12th. Finally, Jefferies Financial Group set a $335.00 price objective on shares of Marathon Petroleum and gave the company a “buy” rating in a research report on Sunday, July 12th. Ten equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and an average target price of $291.50.

Marathon Petroleum Stock Performance

Shares of MPC opened at $316.17 on Wednesday. The company has a market cap of $92.30 billion, a price-to-earnings ratio of 20.64, a P/E/G ratio of 0.43 and a beta of 0.52. The business’s fifty day simple moving average is $266.31 and its two-hundred day simple moving average is $231.05. Marathon Petroleum has a 12 month low of $158.00 and a 12 month high of $326.92. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.91. The firm had revenue of $34.20 billion during the quarter, compared to analysts’ expectations of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The company’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.24) earnings per share. Research analysts anticipate that Marathon Petroleum will post 35.82 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Wednesday, May 20th. Marathon Petroleum’s payout ratio is currently 26.11%.

Insider Activity at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the sale, the vice president owned 16,900 shares of the company’s stock, valued at $4,543,058. This represents a 27.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is owned by insiders.

Institutional Trading of Marathon Petroleum

Several large investors have recently added to or reduced their stakes in the business. Navalign LLC bought a new position in Marathon Petroleum in the fourth quarter worth approximately $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Marathon Petroleum during the 4th quarter valued at $31,000. Berbice Capital Management LLC grew its position in shares of Marathon Petroleum by 100.0% during the 4th quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 100 shares during the period. WFA of San Diego LLC purchased a new stake in shares of Marathon Petroleum in the 2nd quarter worth $33,000. Finally, Ares Financial Consulting LLC bought a new position in Marathon Petroleum in the 4th quarter worth $34,000. 76.77% of the stock is currently owned by institutional investors.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.