Analysts Set Marathon Petroleum Corporation (MPC) Price Target at $60.36
Shares of Marathon Petroleum Corporation (NYSE:MPC) have been assigned an average recommendation of “Buy” from the twenty brokerages that are covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $60.36.
Several equities analysts recently commented on the stock. Edward Jones raised shares of Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a research report on Friday. Goldman Sachs Group, Inc. (The) lowered shares of Marathon Petroleum Corporation from a “buy” rating to a “neutral” rating and set a $63.00 price target for the company. in a research report on Tuesday. They noted that the move was a valuation call. Jefferies Group LLC reaffirmed a “buy” rating and set a $64.00 price target (down previously from $65.00) on shares of Marathon Petroleum Corporation in a research report on Wednesday, September 6th. Wells Fargo & Company lowered shares of Marathon Petroleum Corporation from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $65.00 to $56.00 in a research report on Tuesday, September 5th. Finally, Bank of America Corporation lowered shares of Marathon Petroleum Corporation from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 5th.
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In other news, VP C. Michael Palmer sold 11,450 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $53.02, for a total value of $607,079.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.05% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Blue Chip Partners Inc. purchased a new position in shares of Marathon Petroleum Corporation in the second quarter valued at $100,000. Guardian Life Insurance Co. of America boosted its stake in shares of Marathon Petroleum Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,036 shares of the oil and gas company’s stock valued at $103,000 after purchasing an additional 14 shares during the period. Lee Financial Co boosted its stake in shares of Marathon Petroleum Corporation by 2.4% in the second quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock valued at $107,000 after purchasing an additional 48 shares during the period. Jacobi Capital Management LLC boosted its stake in shares of Marathon Petroleum Corporation by 32.2% in the first quarter. Jacobi Capital Management LLC now owns 2,340 shares of the oil and gas company’s stock valued at $116,000 after purchasing an additional 570 shares during the period. Finally, First Interstate Bank boosted its stake in shares of Marathon Petroleum Corporation by 81.1% in the second quarter. First Interstate Bank now owns 2,376 shares of the oil and gas company’s stock valued at $124,000 after purchasing an additional 1,064 shares during the period. Institutional investors and hedge funds own 78.25% of the company’s stock.
Marathon Petroleum Corporation (NYSE MPC) traded down 0.41% during trading on Wednesday, hitting $56.02. 3,917,411 shares of the company were exchanged. Marathon Petroleum Corporation has a 12 month low of $40.01 and a 12 month high of $56.90. The company has a market capitalization of $28.36 billion, a price-to-earnings ratio of 33.40 and a beta of 1.56. The company has a 50-day moving average of $53.46 and a 200-day moving average of $52.57.
Marathon Petroleum Corporation (NYSE:MPC) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.01). Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. The company had revenue of $18.35 billion for the quarter, compared to analyst estimates of $19.98 billion. During the same period last year, the company posted $1.07 EPS. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. Analysts forecast that Marathon Petroleum Corporation will post $2.99 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th were paid a $0.40 dividend. The ex-dividend date was Monday, August 14th. This is an increase from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a dividend yield of 2.86%. Marathon Petroleum Corporation’s dividend payout ratio is 90.91%.
About Marathon Petroleum Corporation
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.
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