Marathon Petroleum (NYSE:MPC) Given New $213.00 Price Target at Wells Fargo & Company

Marathon Petroleum (NYSE:MPC) had its price target cut by Wells Fargo & Company from $214.00 to $213.00 in a report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

Other equities analysts have also recently issued research reports about the stock. Raymond James Financial set a $200.00 price target on shares of Marathon Petroleum in a research note on Tuesday. Citigroup upped their price objective on shares of Marathon Petroleum from $144.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. TD Cowen cut their price objective on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Dbs Bank raised shares of Marathon Petroleum to a “moderate buy” rating in a research note on Monday, July 28th. Finally, Mizuho upped their price objective on shares of Marathon Petroleum from $184.00 to $188.00 and gave the company a “neutral” rating in a research note on Monday, September 15th. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus price target of $200.00.

Marathon Petroleum Stock Performance

Marathon Petroleum stock opened at $186.13 on Wednesday. The firm’s 50 day simple moving average is $187.31 and its 200 day simple moving average is $171.26. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $56.59 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 3.85 and a beta of 0.90. Marathon Petroleum has a 1-year low of $115.10 and a 1-year high of $201.61.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.01. The business had revenue of $34.81 billion for the quarter, compared to analyst estimates of $31.06 billion. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.79%. As a group, analysts expect that Marathon Petroleum will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, November 19th will be issued a dividend of $1.00 per share. The ex-dividend date is Wednesday, November 19th. This represents a $4.00 dividend on an annualized basis and a yield of 2.1%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s dividend payout ratio (DPR) is currently 54.01%.

Insider Buying and Selling

In related news, insider Molly R. Benson sold 10,879 shares of the company’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the sale, the insider directly owned 28,700 shares in the company, valued at $4,678,100. This represents a 27.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MPC. Delos Wealth Advisors LLC bought a new position in Marathon Petroleum in the 2nd quarter worth $25,000. Activest Wealth Management raised its holdings in Marathon Petroleum by 290.2% in the 2nd quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 119 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its holdings in Marathon Petroleum by 1,546.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 201 shares in the last quarter. Hughes Financial Services LLC bought a new position in Marathon Petroleum in the 1st quarter worth $32,000. Finally, WPG Advisers LLC bought a new position in Marathon Petroleum in the 1st quarter worth $32,000. 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.