Marathon Petroleum Corporation (NYSE:MPC) had its target price upped by Cowen and Company from $55.00 to $60.00 in a research report report published on Thursday, July 27th, MarketBeat reports. The firm currently has an outperform rating on the oil and gas company’s stock.
MPC has been the subject of several other research reports. Jefferies Group LLC reaffirmed a buy rating and issued a $61.00 target price on shares of Marathon Petroleum Corporation in a research report on Wednesday, April 19th. Scotiabank reiterated a hold rating and set a $54.00 price objective on shares of Marathon Petroleum Corporation in a report on Friday, April 28th. Credit Suisse Group reiterated a buy rating and set a $64.00 price objective on shares of Marathon Petroleum Corporation in a report on Friday, July 14th. Royal Bank Of Canada reiterated a buy rating and set a $69.00 price objective on shares of Marathon Petroleum Corporation in a report on Thursday, June 1st. Finally, US Capital Advisors reiterated a buy rating on shares of Marathon Petroleum Corporation in a report on Monday, May 22nd. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $58.62.
Marathon Petroleum Corporation (NYSE MPC) traded down 0.84% during trading on Thursday, reaching $54.44. The company had a trading volume of 2,312,629 shares. Marathon Petroleum Corporation has a 52-week low of $39.29 and a 52-week high of $56.81. The company has a 50-day moving average price of $54.06 and a 200 day moving average price of $51.47. The stock has a market cap of $27.55 billion, a PE ratio of 31.34 and a beta of 1.56.
Marathon Petroleum Corporation (NYSE:MPC) last issued its earnings results on Thursday, July 27th. The oil and gas company reported $1.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by $0.01. The business had revenue of $18.35 billion during the quarter, compared to analyst estimates of $19.98 billion. Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the business earned $1.07 EPS. On average, analysts anticipate that Marathon Petroleum Corporation will post $2.73 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, August 14th. This is a positive change from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.94%. Marathon Petroleum Corporation’s payout ratio is presently 81.82%.
In related news, insider Thomas M. Kelley sold 25,000 shares of Marathon Petroleum Corporation stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $54.33, for a total transaction of $1,358,250.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP C. Michael Palmer sold 4,000 shares of Marathon Petroleum Corporation stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $53.25, for a total value of $213,000.00. Following the sale, the vice president now directly owns 61,757 shares in the company, valued at $3,288,560.25. The disclosure for this sale can be found here. Insiders sold 33,568 shares of company stock worth $1,808,969 over the last quarter. 1.05% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in MPC. Blue Chip Partners Inc. purchased a new stake in Marathon Petroleum Corporation during the second quarter worth $100,000. Guardian Life Insurance Co. of America increased its stake in Marathon Petroleum Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,036 shares of the oil and gas company’s stock worth $103,000 after buying an additional 14 shares during the period. FTB Advisors Inc. increased its stake in Marathon Petroleum Corporation by 484.9% in the first quarter. FTB Advisors Inc. now owns 2,047 shares of the oil and gas company’s stock worth $104,000 after buying an additional 1,697 shares during the period. Lee Financial Co increased its stake in Marathon Petroleum Corporation by 2.4% in the second quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock worth $107,000 after buying an additional 48 shares during the period. Finally, Carroll Financial Associates Inc. increased its stake in Marathon Petroleum Corporation by 12.3% in the first quarter. Carroll Financial Associates Inc. now owns 2,287 shares of the oil and gas company’s stock worth $115,000 after buying an additional 250 shares during the period. 81.58% of the stock is currently owned by institutional investors and hedge funds.
Marathon Petroleum Corporation Company Profile
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.
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