Marathon Petroleum Corp. (NYSE:MPC) had its target price boosted by stock analysts at Piper Jaffray Cos. from $41.00 to $46.00 in a report released on Friday. The brokerage currently has a “neutral” rating on the stock. Piper Jaffray Cos.’s target price indicates a potential upside of 5.17% from the stock’s current price.
Several other analysts have also issued reports on MPC. JPMorgan Chase & Co. reduced their target price on Marathon Petroleum Corp. from $39.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday, June 10th. Goldman Sachs Group Inc. reissued a “top pick” rating on shares of Marathon Petroleum Corp. in a report on Thursday, June 30th. Wells Fargo & Co. reissued a “buy” rating on shares of Marathon Petroleum Corp. in a report on Saturday, July 9th. Howard Weil lowered Marathon Petroleum Corp. from a “sector outperform” rating to a “sector perform” rating and set a $42.00 target price on the stock. in a report on Monday, July 11th. Finally, Scotiabank lowered Marathon Petroleum Corp. from an “outperform” rating to a “sector perform” rating and set a $42.00 target price on the stock. in a report on Monday, July 11th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $53.05.
Shares of Marathon Petroleum Corp. (NYSE:MPC) traded down 0.64% during mid-day trading on Friday, reaching $43.46. The company had a trading volume of 1,797,332 shares. The company has a market cap of $22.98 billion, a price-to-earnings ratio of 11.99 and a beta of 2.20. Marathon Petroleum Corp. has a 52-week low of $29.24 and a 52-week high of $59.99. The firm’s 50-day moving average price is $41.72 and its 200 day moving average price is $38.08.
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Marathon Petroleum Corp. (NYSE:MPC) last released its earnings results on Thursday, July 28th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.10. The company had revenue of $16.81 billion for the quarter, compared to analyst estimates of $16.30 billion. Marathon Petroleum Corp. had a return on equity of 10.94% and a net margin of 3.02%. Marathon Petroleum Corp.’s quarterly revenue was down 18.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.51 EPS. Equities analysts expect that Marathon Petroleum Corp. will post $2.33 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Wednesday, August 17th were paid a dividend of $0.36 per share. The ex-dividend date was Monday, August 15th. This represents a $1.44 annualized dividend and a yield of 3.29%. This is a boost from Marathon Petroleum Corp.’s previous quarterly dividend of $0.32. Marathon Petroleum Corp.’s dividend payout ratio (DPR) is currently 39.78%.
A number of large investors have recently added to or reduced their stakes in MPC. State Street Corp boosted its stake in Marathon Petroleum Corp. by 4.3% in the first quarter. State Street Corp now owns 26,571,583 shares of the company’s stock valued at $987,917,000 after buying an additional 1,091,661 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Marathon Petroleum Corp. by 23.1% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 24,511,104 shares of the company’s stock valued at $930,442,000 after buying an additional 4,606,506 shares in the last quarter. Boston Partners boosted its stake in Marathon Petroleum Corp. by 57.3% in the second quarter. Boston Partners now owns 11,405,536 shares of the company’s stock valued at $432,954,000 after buying an additional 4,155,419 shares in the last quarter. BlackRock Fund Advisors boosted its stake in shares of Marathon Petroleum Corp. by 21.9% in the second quarter. BlackRock Fund Advisors now owns 9,733,911 shares of the company’s stock worth $369,499,000 after buying an additional 1,750,344 shares during the period. Finally, BlackRock Group LTD boosted its stake in shares of Marathon Petroleum Corp. by 5.5% in the first quarter. BlackRock Group LTD now owns 8,958,546 shares of the company’s stock worth $333,079,000 after buying an additional 463,634 shares during the period. 79.85% of the stock is owned by institutional investors and hedge funds.
About Marathon Petroleum Corp.
Marathon Petroleum Corporation is engaged in petroleum product refining, marketing, retail and transportation businesses in the United States and the east of the Mississippi. The Company’s segments include Refining & Marketing, Speedway, and Midstream. Its Refining & Marketing segment refines crude oil and other feedstocks at its approximately seven refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products.
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