Piper Jaffray Cos. Boosts Marathon Petroleum Corp. (MPC) Price Target to $46.00
Marathon Petroleum Corp. (NYSE:MPC) had its price target upped by Piper Jaffray Cos. from $41.00 to $46.00 in a research report report published on Friday. Piper Jaffray Cos. currently has a neutral rating on the stock.
Other analysts have also recently issued research reports about the stock. Vetr cut shares of Marathon Petroleum Corp. from a strong-buy rating to a buy rating and set a $42.00 price target on the stock. in a research note on Tuesday, July 19th. Credit Suisse Group AG reiterated a buy rating and issued a $45.00 price target on shares of Marathon Petroleum Corp. in a research note on Thursday, July 14th. Wells Fargo & Co. reiterated a buy rating on shares of Marathon Petroleum Corp. in a research note on Saturday, July 9th. TheStreet upgraded shares of Marathon Petroleum Corp. from a hold rating to a buy rating in a research note on Monday, August 8th. Finally, Jefferies Group initiated coverage on shares of Marathon Petroleum Corp. in a research note on Tuesday, August 23rd. They issued a buy rating and a $48.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $53.05.
Shares of Marathon Petroleum Corp. (NYSE:MPC) opened at 42.55 on Friday. Marathon Petroleum Corp. has a 1-year low of $29.24 and a 1-year high of $59.99. The company has a 50 day moving average price of $42.11 and a 200 day moving average price of $38.28. The company has a market capitalization of $22.50 billion, a PE ratio of 11.74 and a beta of 2.20.
Marathon Petroleum Corp. (NYSE:MPC) last announced its quarterly earnings results on Thursday, July 28th. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.97 by $0.10. The business had revenue of $16.81 billion for the quarter, compared to analysts’ expectations of $16.30 billion. Marathon Petroleum Corp. had a net margin of 3.02% and a return on equity of 10.94%. The business’s quarterly revenue was down 18.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.51 EPS. Equities analysts predict 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. Investors of record on Wednesday, August 17th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend was Monday, August 15th. This is a positive change from Marathon Petroleum Corp.’s previous quarterly dividend of $0.32. Marathon Petroleum Corp.’s dividend payout ratio (DPR) is currently 39.78%.
Hedge funds have recently added to or reduced their stakes in the stock. Douglas Lane & Associates LLC bought a new stake in shares of Marathon Petroleum Corp. during the first quarter valued at about $22,827,000. Raymond James Trust N.A. raised its stake in shares of Marathon Petroleum Corp. by 12.7% in the first quarter. Raymond James Trust N.A. now owns 103,665 shares of the company’s stock valued at $3,855,000 after buying an additional 11,652 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Marathon Petroleum Corp. by 55.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,927 shares of the company’s stock valued at $1,047,000 after buying an additional 10,286 shares during the period. Fox Run Management L.L.C. bought a new stake in shares of Marathon Petroleum Corp. during the first quarter valued at about $323,000. Finally, CrestPoint Capital Management LLC bought a new stake in shares of Marathon Petroleum Corp. during the first quarter valued at about $818,000. Institutional investors own 79.85% of the company’s stock.
Marathon Petroleum Corp. Company Profile
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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