Marathon Petroleum Corp. (MPC) Price Target Increased to $46.00 by Analysts at Piper Jaffray Cos.
Marathon Petroleum Corp. (NYSE:MPC) had its price target hoisted by Piper Jaffray Cos. from $41.00 to $46.00 in a research note issued to investors on Friday morning. Piper Jaffray Cos. currently has a neutral rating on the stock.
MPC has been the topic of a number of other research reports. Jefferies Group started coverage on Marathon Petroleum Corp. in a report on Tuesday, August 23rd. They set a buy rating and a $48.00 price target on the stock. Vetr upgraded Marathon Petroleum Corp. from a buy rating to a strong-buy rating and set a $51.50 price target on the stock in a report on Monday, September 12th. Goldman Sachs Group Inc. restated a top pick rating on shares of Marathon Petroleum Corp. in a report on Thursday, June 30th. Credit Suisse Group AG restated an outperform rating on shares of Marathon Petroleum Corp. in a report on Sunday, September 4th. Finally, Zacks Investment Research upgraded Marathon Petroleum Corp. from a sell rating to a hold rating in a report on Tuesday, August 16th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $53.05.
Marathon Petroleum Corp. (NYSE:MPC) opened at 43.21 on Friday. The stock has a 50 day moving average price of $42.23 and a 200-day moving average price of $38.32. Marathon Petroleum Corp. has a 12-month low of $29.24 and a 12-month high of $59.99. The company has a market cap of $22.85 billion, a price-to-earnings ratio of 11.92 and a beta of 2.20.
Marathon Petroleum Corp. (NYSE:MPC) last released its earnings results on Thursday, July 28th. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.10. Marathon Petroleum Corp. had a return on equity of 10.94% and a net margin of 3.02%. The company earned $16.81 billion during the quarter, compared to analyst estimates of $16.30 billion. During the same quarter in the previous year, the company posted $1.51 EPS. Marathon Petroleum Corp.’s revenue for the quarter was down 18.4% on a year-over-year basis. On average, analysts predict that Marathon Petroleum Corp. will post $2.40 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Wednesday, August 17th were given a $0.36 dividend. The ex-dividend date of this dividend was Monday, August 15th. This is a boost from Marathon Petroleum Corp.’s previous quarterly dividend of $0.32. This represents a $1.44 annualized dividend and a yield of 3.33%. Marathon Petroleum Corp.’s dividend payout ratio is 39.78%.
A number of institutional investors have recently added to or reduced their stakes in the stock. 1832 Asset Management L.P. boosted its position in Marathon Petroleum Corp. by 3,222.6% in the second quarter. 1832 Asset Management L.P. now owns 2,791 shares of the company’s stock valued at $106,000 after buying an additional 2,707 shares during the last quarter. Acrospire Investment Management LLC purchased a new position in Marathon Petroleum Corp. during the first quarter valued at $108,000. AlphaMark Advisors LLC boosted its position in Marathon Petroleum Corp. by 98.7% in the second quarter. AlphaMark Advisors LLC now owns 3,020 shares of the company’s stock valued at $115,000 after buying an additional 1,500 shares during the last quarter. Amica Retiree Medical Trust purchased a new position in Marathon Petroleum Corp. during the second quarter valued at $117,000. Finally, Invictus RG boosted its position in Marathon Petroleum Corp. by 35.7% in the first quarter. Invictus RG now owns 3,176 shares of the company’s stock valued at $118,000 after buying an additional 835 shares during the last quarter. 79.85% of the stock is currently owned by institutional investors and hedge funds.
Marathon Petroleum Corp. Company Profile
Marathon Petroleum Corporation is engaged in petroleum product refining, marketing, retail and transportation businesses in the United States and the east of the Mississippi. The Company’s segments include Refining & Marketing, Speedway, and Midstream. Its Refining & Marketing segment refines crude oil and other feedstocks at its approximately seven refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products.
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