Marathon Petroleum (NYSE:MPC) Given New $159.00 Price Target at Barclays

Marathon Petroleum (NYSE:MPC) had its target price trimmed by Barclays from $168.00 to $159.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the oil and gas company’s stock.

Other research analysts also recently issued reports about the company. Mizuho dropped their price target on Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Piper Sandler decreased their price target on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. TD Cowen reduced their target price on Marathon Petroleum from $174.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. BMO Capital Markets dropped their price target on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Finally, Scotiabank cut their price target on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $185.07.

Marathon Petroleum Stock Performance

Shares of MPC opened at $158.14 on Monday. The firm has a market capitalization of $50.82 billion, a P/E ratio of 12.53, a PEG ratio of 2.82 and a beta of 1.38. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. Marathon Petroleum has a one year low of $140.98 and a one year high of $221.11. The business has a fifty day moving average of $159.44 and a 200 day moving average of $168.80.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.90. The business had revenue of $35.37 billion for the quarter, compared to analysts’ expectations of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The company’s revenue was down 14.9% compared to the same quarter last year. During the same quarter last year, the company posted $8.14 EPS. As a group, sell-side analysts anticipate that Marathon Petroleum will post 9.41 EPS for the current year.

Marathon Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Wednesday, November 20th. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio is 26.15%.

Marathon Petroleum declared that its board has approved a share buyback program on Tuesday, November 5th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Marathon Petroleum

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Crewe Advisors LLC bought a new stake in shares of Marathon Petroleum during the first quarter valued at approximately $29,000. Gladius Capital Management LP bought a new stake in Marathon Petroleum during the 3rd quarter valued at $26,000. MeadowBrook Investment Advisors LLC lifted its holdings in shares of Marathon Petroleum by 88.9% in the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after buying an additional 80 shares during the period. True Wealth Design LLC grew its position in shares of Marathon Petroleum by 672.7% during the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after buying an additional 148 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Marathon Petroleum in the third quarter valued at about $30,000. Institutional investors own 76.77% of the company’s stock.

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.