Marathon Petroleum (NYSE:MPC) Price Target Cut to $440.00 by Analysts at Mizuho

Marathon Petroleum (NYSE:MPC) had its target price reduced by Mizuho from $457.00 to $440.00 in a report published on Friday morning,Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

Other equities research analysts have also issued research reports about the stock. Barclays upped their target price on shares of Marathon Petroleum from $321.00 to $488.00 and gave the stock an “overweight” rating in a report on Monday, October 12th. Evercore set a $330.00 price target on shares of Marathon Petroleum in a research note on Wednesday, August 5th. TD Cowen boosted their price target on shares of Marathon Petroleum from $450.00 to $478.00 and gave the stock a “buy” rating in a research report on Thursday, October 22nd. Zacks Research raised shares of Marathon Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 4th. Finally, Raymond James Financial increased their price objective on shares of Marathon Petroleum from $350.00 to $445.00 and gave the company an “outperform” rating in a report on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $424.06.

Marathon Petroleum Price Performance

NYSE MPC traded up $1.10 during mid-day trading on Friday, hitting $413.95. The stock had a trading volume of 2,170,836 shares, compared to its average volume of 2,372,925. The firm’s 50 day moving average is $423.86 and its 200 day moving average is $301.03. Marathon Petroleum has a twelve month low of $161.93 and a twelve month high of $493.98. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.45 and a quick ratio of 1.09. The stock has a market capitalization of $112.71 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 0.10 and a beta of 0.53.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, November 3rd. The oil and gas company reported $26.93 earnings per share for the quarter, beating analysts’ consensus estimates of $25.37 by $1.56. Marathon Petroleum had a return on equity of 55.82% and a net margin of 8.27%. The company had revenue of $56.03 billion for the quarter, compared to analyst estimates of $46.60 billion. During the same quarter last year, the firm posted $3.01 EPS. The firm’s revenue for the quarter was up 57.6% on a year-over-year basis. Equities research analysts forecast that Marathon Petroleum will post 66.31 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be issued a dividend of $1.00 per share. The ex-dividend date is Wednesday, November 18th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.0%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 13.75%.

Insider Activity

In related news, insider Molly R. Benson sold 17,196 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $358.57, for a total value of $6,165,969.72. Following the sale, the insider directly owned 30,334 shares in the company, valued at approximately $10,876,862.38. The trade was a 36.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Erin M. Brzezinski sold 570 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total transaction of $206,790.30. Following the completion of the transaction, the vice president owned 1,576 shares in the company, valued at approximately $571,757.04. This represents a 26.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 19,191 shares of company stock valued at $6,905,127. 0.17% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Marathon Petroleum

Several hedge funds have recently bought and sold shares of MPC. BlackRock Inc. acquired a new stake in shares of Marathon Petroleum during the second quarter worth about $6,648,958,000. Bank of New York Mellon Corp purchased a new stake in shares of Marathon Petroleum in the 2nd quarter valued at about $1,029,611,000. Bank of America Corp DE increased its holdings in shares of Marathon Petroleum by 1.6% in the 1st quarter. Bank of America Corp DE now owns 2,595,084 shares of the oil and gas company’s stock valued at $633,668,000 after acquiring an additional 40,124 shares during the period. Amundi raised its holdings in shares of Marathon Petroleum by 17.5% in the second quarter. Amundi now owns 2,237,930 shares of the oil and gas company’s stock valued at $572,172,000 after buying an additional 332,551 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Marathon Petroleum by 16.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,508,489 shares of the oil and gas company’s stock valued at $385,675,000 after acquiring an additional 215,686 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Trending Headlines about Marathon Petroleum

Investors following MPC have been watching these headlines:

• Positive Sentiment: Investors have also been weighing strong Q3 earnings and cash returns: MPC reported adjusted earnings of $26.93 per share, returned $3.3 billion to shareholders, authorized another $5 billion in buybacks and raised its dividend 10%. Its planned $4.2 billion sale of two refineries could free funds for reinvestment and sharpen its portfolio. Marathon Petroleum Rises as Investors Continue to Digest Strong Q3 Results and Asset Sale
• Negative Sentiment: Mizuho lowered its price target to $440 from $457 and maintained a neutral rating. The new target still implies roughly 6.4% upside from the cited share price, but the reduction signals more restrained expectations. Mizuho stock recommendations
• Negative Sentiment: Reported open-market activity showed MPC insiders made no purchases and sold shares in the past six months, a possible cautionary signal, though insider sales alone do not establish a change in business outlook.

About Marathon Petroleum

Marathon Petroleum Corporation is an integrated downstream energy company focused on refining, marketing, and transporting petroleum products. Its refineries produce fuels and other products, including gasoline, diesel, jet fuel, asphalt, and petrochemical feedstocks. The company sells transportation fuels and related products through a network of branded locations and other wholesale and commercial channels, primarily in the United States. Its midstream operations, conducted largely through its affiliated partnership MPLX, include gathering, processing, and transporting natural gas and natural gas liquids, as well as storing and transporting crude oil and refined products.