JPMorgan Chase & Co. Trims Marathon Petroleum (NYSE:MPC) Target Price to $172.00

Marathon Petroleum (NYSE:MPC) had its price objective decreased by JPMorgan Chase & Co. from $186.00 to $172.00 in a research note published on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the oil and gas company’s stock.

Several other equities research analysts also recently commented on MPC. Wolfe Research started coverage on Marathon Petroleum in a report on Thursday, July 18th. They issued an outperform rating and a $200.00 target price on the stock. Wells Fargo & Company dropped their price target on shares of Marathon Petroleum from $223.00 to $196.00 and set an overweight rating on the stock in a research note on Friday, July 12th. Piper Sandler reduced their price objective on shares of Marathon Petroleum from $168.00 to $145.00 and set a neutral rating for the company in a research note on Friday, September 20th. StockNews.com downgraded shares of Marathon Petroleum from a buy rating to a hold rating in a research note on Friday, June 14th. Finally, Jefferies Financial Group increased their price target on shares of Marathon Petroleum from $222.00 to $231.00 and gave the company a buy rating in a report on Monday, July 15th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $196.14.

Marathon Petroleum Stock Down 1.6 %

Shares of Marathon Petroleum stock opened at $171.98 on Wednesday. Marathon Petroleum has a 1 year low of $139.93 and a 1 year high of $221.11. The firm has a market cap of $60.59 billion, a price-to-earnings ratio of 8.59, a PEG ratio of 2.59 and a beta of 1.37. The company has a 50-day moving average of $169.69 and a 200 day moving average of $178.39. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The business had revenue of $38.36 billion during the quarter, compared to the consensus estimate of $36.66 billion. During the same quarter last year, the firm earned $5.32 earnings per share. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Marathon Petroleum will post 10.56 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio is 16.48%.

Institutional Investors Weigh In On Marathon Petroleum

Large investors have recently made changes to their positions in the company. FinTrust Capital Advisors LLC boosted its holdings in shares of Marathon Petroleum by 400.0% in the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Crewe Advisors LLC purchased a new position in shares of Marathon Petroleum during the 1st quarter worth $29,000. Vima LLC bought a new stake in shares of Marathon Petroleum during the 4th quarter valued at $30,000. TruNorth Capital Management LLC bought a new stake in shares of Marathon Petroleum during the 2nd quarter valued at $35,000. Finally, Industrial Alliance Investment Management Inc. purchased a new stake in shares of Marathon Petroleum in the 2nd quarter worth $35,000. 76.77% of the stock is currently owned by institutional investors.

About Marathon Petroleum

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.