Marathon Petroleum (NYSE:MPC) Given New $192.00 Price Target at Raymond James

Marathon Petroleum (NYSE:MPC) had its price objective upped by Raymond James from $190.00 to $192.00 in a research report released on Friday,Benzinga reports. They currently have a strong-buy rating on the oil and gas company’s stock.

Several other equities research analysts have also recently weighed in on MPC. Bank of America began coverage on shares of Marathon Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $174.00 target price for the company. Wells Fargo & Company reduced their price objective on Marathon Petroleum from $186.00 to $182.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. Citigroup lowered their price objective on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Piper Sandler reduced their target price on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Finally, Scotiabank lowered their price target on shares of Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $181.20.

Marathon Petroleum Stock Performance

MPC opened at $152.83 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The stock’s 50 day moving average price is $147.78 and its two-hundred day moving average price is $159.47. The firm has a market capitalization of $49.12 billion, a P/E ratio of 12.11, a price-to-earnings-growth ratio of 2.51 and a beta of 1.42. Marathon Petroleum has a 12-month low of $130.54 and a 12-month high of $221.11.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.90. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The business had revenue of $35.37 billion for the quarter, compared to the consensus estimate of $34.34 billion. During the same quarter last year, the company posted $8.14 earnings per share. Marathon Petroleum’s quarterly revenue was down 14.9% on a year-over-year basis. On average, equities analysts forecast that Marathon Petroleum will post 9.38 earnings per share for the current year.

Marathon Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th were paid a $0.91 dividend. The ex-dividend date was Wednesday, November 20th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.38%. Marathon Petroleum’s dividend payout ratio (DPR) is 28.84%.

Marathon Petroleum announced that its Board of Directors has approved a share repurchase program on Tuesday, November 5th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to reacquire up to 10% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Marathon Petroleum

In related news, Director Jeffrey C. Campbell purchased 6,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were acquired at an average cost of $149.61 per share, with a total value of $897,660.00. Following the completion of the purchase, the director now directly owns 6,090 shares of the company’s stock, valued at $911,124.90. This trade represents a 6,666.67 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Marathon Petroleum

Institutional investors and hedge funds have recently made changes to their positions in the company. Gladius Capital Management LP acquired a new position in Marathon Petroleum during the 3rd quarter valued at about $26,000. MeadowBrook Investment Advisors LLC lifted its holdings in Marathon Petroleum by 88.9% in the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 80 shares during the period. True Wealth Design LLC boosted its stake in Marathon Petroleum by 672.7% in the third quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 148 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Marathon Petroleum during the 3rd quarter worth $30,000. Finally, Darwin Wealth Management LLC bought a new stake in shares of Marathon Petroleum during the 3rd quarter valued at $33,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Company Profile

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.