Piper Jaffray Cos. Boosts Marathon Petroleum Corp. (MPC) Price Target to $46.00
Marathon Petroleum Corp. (NYSE:MPC) had its price objective lifted by Piper Jaffray Cos. from $41.00 to $46.00 in a research report sent to investors on Friday morning. Piper Jaffray Cos. currently has a neutral rating on the stock.
Several other analysts also recently commented on MPC. Wells Fargo & Co. reiterated a buy rating on shares of Marathon Petroleum Corp. in a research report on Saturday, July 9th. JPMorgan Chase & Co. reiterated a hold rating on shares of Marathon Petroleum Corp. in a research report on Sunday, June 12th. Credit Suisse Group AG reiterated an outperform rating on shares of Marathon Petroleum Corp. in a research report on Sunday, September 4th. Zacks Investment Research downgraded shares of Marathon Petroleum Corp. from a hold rating to a strong sell rating in a research report on Wednesday, July 13th. Finally, Vetr downgraded shares of Marathon Petroleum Corp. from a strong-buy rating to a buy rating and set a $42.00 price target for the company. in a research report on Tuesday, July 19th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $53.05.
Shares of Marathon Petroleum Corp. (NYSE:MPC) opened at 42.55 on Friday. Marathon Petroleum Corp. has a 12 month low of $29.24 and a 12 month high of $59.99. The firm has a market cap of $22.50 billion, a price-to-earnings ratio of 11.74 and a beta of 2.20. The stock has a 50 day moving average of $42.11 and a 200 day moving average of $38.28.
Marathon Petroleum Corp. (NYSE:MPC) last issued its earnings results on Thursday, July 28th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.10. Marathon Petroleum Corp. had a net margin of 3.02% and a return on equity of 10.94%. The business earned $16.81 billion during the quarter, compared to analysts’ expectations of $16.30 billion. During the same quarter in the prior year, the business posted $1.51 EPS. The company’s revenue for the quarter was down 18.4% on a year-over-year basis. On average, equities research analysts expect that Marathon Petroleum Corp. will post $2.40 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Wednesday, August 17th were paid a dividend of $0.36 per share. This is a boost from Marathon Petroleum Corp.’s previous quarterly dividend of $0.32. This represents a $1.44 annualized dividend and a dividend yield of 3.38%. The ex-dividend date was Monday, August 15th. Marathon Petroleum Corp.’s dividend payout ratio (DPR) is currently 39.78%.
Several large investors have recently added to or reduced their stakes in the company. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Marathon Petroleum Corp. during the fourth quarter valued at about $1,035,000. Royal London Asset Management Ltd. boosted its stake in Marathon Petroleum Corp. by 1.9% in the fourth quarter. Royal London Asset Management Ltd. now owns 192,900 shares of the company’s stock valued at $10,086,000 after buying an additional 3,592 shares in the last quarter. Stifel Financial Corp boosted its stake in Marathon Petroleum Corp. by 34.2% in the fourth quarter. Stifel Financial Corp now owns 226,139 shares of the company’s stock valued at $18,260,000 after buying an additional 57,668 shares in the last quarter. Norges Bank purchased a new stake in Marathon Petroleum Corp. during the fourth quarter valued at about $249,275,000. Finally, Chevy Chase Trust Holdings Inc. boosted its stake in Marathon Petroleum Corp. by 1.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 455,662 shares of the company’s stock valued at $16,942,000 after buying an additional 6,839 shares in the last quarter. 79.85% of the stock is currently owned by institutional investors.
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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