Marathon Petroleum (NYSE:MPC) Price Target Raised to $182.00

Marathon Petroleum (NYSE:MPC) had its price objective lifted by Wells Fargo & Company from $180.00 to $182.00 in a report published on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the oil and gas company’s stock.

MPC has been the topic of several other reports. Barclays raised their target price on shares of Marathon Petroleum from $141.00 to $159.00 and gave the stock an “overweight” rating in a report on Monday, May 12th. Wall Street Zen upgraded shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Scotiabank dropped their target price on shares of Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating on the stock in a report on Friday, April 11th. TD Cowen raised their target price on shares of Marathon Petroleum from $152.00 to $163.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Mizuho raised their target price on shares of Marathon Petroleum from $168.00 to $184.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus price target of $176.21.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC opened at $165.99 on Wednesday. The company has a market capitalization of $50.99 billion, a price-to-earnings ratio of 16.72, a P/E/G ratio of 3.11 and a beta of 0.89. The firm’s 50 day simple moving average is $147.49 and its 200 day simple moving average is $146.44. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. Marathon Petroleum has a fifty-two week low of $115.10 and a fifty-two week high of $183.31.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. The business had revenue of $31.85 billion for the quarter, compared to the consensus estimate of $28.91 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. Marathon Petroleum’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period last year, the company posted $2.58 EPS. As a group, sell-side analysts forecast that Marathon Petroleum will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were paid a $0.91 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $3.64 annualized dividend and a dividend yield of 2.19%. Marathon Petroleum’s dividend payout ratio is presently 51.20%.

Hedge Funds Weigh In On Marathon Petroleum

Several hedge funds and other institutional investors have recently made changes to their positions in MPC. Brighton Jones LLC grew its stake in shares of Marathon Petroleum by 30.9% in the fourth quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock valued at $696,000 after buying an additional 1,178 shares in the last quarter. Kestra Private Wealth Services LLC grew its stake in shares of Marathon Petroleum by 11.6% in the fourth quarter. Kestra Private Wealth Services LLC now owns 15,964 shares of the oil and gas company’s stock valued at $2,227,000 after buying an additional 1,654 shares in the last quarter. Sapient Capital LLC grew its stake in shares of Marathon Petroleum by 14.5% in the fourth quarter. Sapient Capital LLC now owns 2,350 shares of the oil and gas company’s stock valued at $328,000 after buying an additional 298 shares in the last quarter. Schear Investment Advisers LLC boosted its position in Marathon Petroleum by 9.7% during the fourth quarter. Schear Investment Advisers LLC now owns 2,511 shares of the oil and gas company’s stock worth $350,000 after purchasing an additional 223 shares during the period. Finally, Capital Advisors Inc. OK boosted its position in Marathon Petroleum by 8.8% during the fourth quarter. Capital Advisors Inc. OK now owns 5,599 shares of the oil and gas company’s stock worth $781,000 after purchasing an additional 455 shares during the period. 76.77% of the stock is 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.