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

Marathon Petroleum (NYSE:MPC) had its price objective trimmed by Citigroup from $185.00 to $182.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a neutral rating on the oil and gas company’s stock.

Several other equities research analysts have also weighed in on MPC. UBS Group upped their price objective on Marathon Petroleum from $203.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Barclays lowered their price target on Marathon Petroleum from $202.00 to $194.00 and set an “overweight” rating on the stock in a research report on Tuesday. Mizuho lifted their price objective on Marathon Petroleum from $198.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday. Weiss Ratings restated a “hold (c)” rating on shares of Marathon Petroleum in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their target price on shares of Marathon Petroleum from $183.00 to $211.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average price target of $195.71.

Marathon Petroleum Trading Down 1.2%

Shares of MPC stock opened at $175.51 on Wednesday. The firm has a fifty day moving average of $181.82 and a 200-day moving average of $180.60. The stock has a market cap of $52.76 billion, a price-to-earnings ratio of 18.71, a P/E/G ratio of 0.72 and a beta of 0.74. Marathon Petroleum has a 52-week low of $115.10 and a 52-week high of $202.29. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.79 and a current ratio of 1.32.

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, beating analysts’ consensus estimates of $3.00 by $0.01. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. The business had revenue of $34.81 billion for the quarter, compared to analysts’ expectations of $31.06 billion. On average, equities research analysts forecast that Marathon Petroleum will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Wednesday, November 19th were given a dividend of $1.00 per share. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. The ex-dividend date was Wednesday, November 19th. This represents a $4.00 annualized dividend and a yield of 2.3%. Marathon Petroleum’s dividend payout ratio is currently 42.64%.

Hedge Funds Weigh In On Marathon Petroleum

A number of institutional investors have recently modified their holdings of MPC. Brighton Jones LLC raised its position in Marathon Petroleum by 30.9% in the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock worth $696,000 after purchasing an additional 1,178 shares during the last quarter. Woodline Partners LP increased its stake in shares of Marathon Petroleum by 38.3% in the 1st quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company’s stock valued at $3,889,000 after buying an additional 7,396 shares during the period. Parallel Advisors LLC raised its position in shares of Marathon Petroleum by 12.1% during the second quarter. Parallel Advisors LLC now owns 8,470 shares of the oil and gas company’s stock worth $1,407,000 after acquiring an additional 914 shares during the last quarter. Everpar Advisors LLC lifted its stake in shares of Marathon Petroleum by 18.9% during the second quarter. Everpar Advisors LLC now owns 2,175 shares of the oil and gas company’s stock valued at $361,000 after acquiring an additional 345 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Marathon Petroleum by 21.8% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,474 shares of the oil and gas company’s stock valued at $245,000 after acquiring an additional 264 shares during the last quarter. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum News Roundup

Here are the key news stories impacting Marathon Petroleum this week:

• Positive Sentiment: International oil companies are lobbying for rapid hydrocarbon-law changes in Venezuela that would let them freely export oil they produce — reforms that could expand crude supply options and trading opportunities for refiners like Marathon over time. International oil companies push for quick reforms in Venezuela to give them control over oil exports
• Positive Sentiment: Outlets argue Marathon could be a major beneficiary if Venezuela opens access — bullish commentary that supports longer-term upside expectations for MPC tied to improved crude supply and margin opportunities. Why Marathon Petroleum Will Be the Biggest Winner in Venezuela
• Neutral Sentiment: Industry/competitive analysis pieces review Marathon’s positioning against peers — useful for context but not an immediate catalyst. How Is Marathon Petroleum Stacked Against Competition?
• Neutral Sentiment: Aggregated broker sentiment remains mildly positive on average (a “Moderate Buy” consensus), which provides support against deeper downdrafts but implies mixed conviction. Marathon Petroleum Corporation (NYSE:MPC) Given Average Rating of “Moderate Buy” by Brokerages
• Negative Sentiment: JPMorgan cut its price target sharply from $211 to $179 and moved to a “neutral” rating, removing a tailwind from the stock and signaling reduced upside expectations. JPMorgan adjusts price target on Marathon Petroleum to $179 from $211
• Negative Sentiment: BMO trimmed its target from $208 to $200 — it kept an outperform view but reduced upside, a modest negative that weighs on near-term sentiment. BMO Capital adjusts price target on Marathon Petroleum to $200 from $208
• Negative Sentiment: Reports note Citigroup has lowered expectations for MPC, and short-term price weakness was highlighted by market commentary after the stock dipped despite broader market gains. Citigroup Has Lowered Expectations for Marathon Petroleum (NYSE:MPC) Stock Price Marathon Petroleum (MPC) Stock Drops Despite Market Gains

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.