Marathon Petroleum Corporation (NYSE:MPC) had its price objective upped by Cowen and Company from $55.00 to $60.00 in a research note published on Thursday morning, MarketBeat reports. Cowen and Company currently has an outperform rating on the oil and gas company’s stock.

A number of other equities analysts have also issued reports on MPC. Jefferies Group LLC reiterated a buy rating and set a $54.83 target price (down from $65.00) on shares of Marathon Petroleum Corporation in a research report on Thursday, July 20th. Zacks Investment Research lowered shares of Marathon Petroleum Corporation from a hold rating to a sell rating in a research report on Thursday. BidaskClub upgraded shares of Marathon Petroleum Corporation from a hold rating to a buy rating in a research report on Thursday, July 6th. Credit Suisse Group reiterated a buy rating and set a $64.00 target price on shares of Marathon Petroleum Corporation in a research report on Friday, July 14th. Finally, US Capital Advisors reiterated a buy rating on shares of Marathon Petroleum Corporation in a research report on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. Marathon Petroleum Corporation presently has an average rating of Buy and an average target price of $58.62.

Marathon Petroleum Corporation (NYSE MPC) traded up 2.064% on Thursday, hitting $56.115. 1,825,847 shares of the company were exchanged. The stock has a 50 day moving average price of $53.78 and a 200 day moving average price of $51.24. The firm has a market cap of $28.39 billion, a price-to-earnings ratio of 32.306 and a beta of 1.56. Marathon Petroleum Corporation has a one year low of $37.64 and a one year high of $56.64.

Marathon Petroleum Corporation (NYSE:MPC) last announced its earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.04 by $0.01. Marathon Petroleum Corporation had a return on equity of 5.49% 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 quarter in the previous year, the company posted $1.07 earnings per share. Marathon Petroleum Corporation’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities research analysts forecast that Marathon Petroleum Corporation will post $2.79 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.91%. The ex-dividend date is Monday, August 14th. This is an increase from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. Marathon Petroleum Corporation’s dividend payout ratio is presently 81.82%.

In other Marathon Petroleum Corporation news, VP C. Michael Palmer sold 4,568 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $52.04, for a total value of $237,718.72. Following the completion of the sale, the vice president now owns 62,325 shares of the company’s stock, valued at $3,243,393. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas M. Kelley sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $54.33, for a total transaction of $1,358,250.00. The disclosure for this sale can be found here. Insiders sold 33,568 shares of company stock valued at $1,808,969 in the last ninety days. Insiders own 1.05% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of Marathon Petroleum Corporation by 2,779.4% in the first quarter. BlackRock Inc. now owns 56,121,367 shares of the oil and gas company’s stock valued at $2,836,372,000 after buying an additional 54,172,304 shares during the last quarter. Iridian Asset Management LLC CT increased its stake in shares of Marathon Petroleum Corporation by 209.4% in the first quarter. Iridian Asset Management LLC CT now owns 7,707,619 shares of the oil and gas company’s stock valued at $389,543,000 after buying an additional 5,216,764 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Marathon Petroleum Corporation by 8,254.8% in the first quarter. American Century Companies Inc. now owns 2,042,740 shares of the oil and gas company’s stock valued at $103,240,000 after buying an additional 2,018,290 shares during the last quarter. FMR LLC increased its stake in shares of Marathon Petroleum Corporation by 109.5% in the first quarter. FMR LLC now owns 3,685,652 shares of the oil and gas company’s stock valued at $186,273,000 after buying an additional 1,926,573 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of Marathon Petroleum Corporation by 201.9% in the first quarter. Alliancebernstein L.P. now owns 2,758,794 shares of the oil and gas company’s stock valued at $139,429,000 after buying an additional 1,844,941 shares during the last quarter. 79.66% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Marathon Petroleum Corporation (NYSE:MPC)

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