Brokerages Set Marathon Petroleum Corporation (MPC) Target Price at $55.63
Marathon Petroleum Corporation (NYSE:MPC) has earned an average recommendation of “Buy” from the sixteen research firms that are covering the stock. Four equities research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $55.63.
MPC has been the subject of several recent research reports. Bank of America Corporation set a $59.00 price objective on shares of Marathon Petroleum Corporation and gave the company a “buy” rating in a research report on Monday, November 28th. Credit Suisse Group reaffirmed a “buy” rating and issued a $63.00 price objective on shares of Marathon Petroleum Corporation in a research report on Sunday, February 5th. Jefferies Group LLC lowered their price objective on shares of Marathon Petroleum Corporation from $62.00 to $61.00 and set a “buy” rating for the company in a research report on Monday, January 23rd. Scotiabank reaffirmed a “hold” rating and issued a $55.00 price objective on shares of Marathon Petroleum Corporation in a research report on Monday, February 6th. Finally, Barclays PLC lowered their price objective on shares of Marathon Petroleum Corporation from $68.00 to $62.00 and set an “overweight” rating for the company in a research report on Thursday, February 2nd.
Marathon Petroleum Corporation (NYSE:MPC) opened at 49.96 on Friday. The firm has a 50-day moving average of $49.44 and a 200 day moving average of $45.20. Marathon Petroleum Corporation has a 52 week low of $30.64 and a 52 week high of $54.59. The firm has a market capitalization of $26.38 billion, a PE ratio of 22.61 and a beta of 1.74.
Marathon Petroleum Corporation (NYSE:MPC) last issued its quarterly earnings data on Wednesday, February 1st. The company reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.17. Marathon Petroleum Corporation had a net margin of 1.85% and a return on equity of 5.74%. The company earned $17.28 billion during the quarter, compared to the consensus estimate of $14.54 billion. During the same quarter last year, the company earned $0.79 earnings per share. Marathon Petroleum Corporation’s revenue for the quarter was up 10.2% on a year-over-year basis. Analysts predict that Marathon Petroleum Corporation will post $3.11 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 10th. Stockholders of record on Thursday, February 16th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Tuesday, February 14th. Marathon Petroleum Corporation’s dividend payout ratio (DPR) is currently 65.16%.
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In other news, Director Charles E. Bunch acquired 2,000 shares of Marathon Petroleum Corporation stock in a transaction that occurred on Thursday, February 9th. The shares were purchased at an average cost of $49.94 per share, for a total transaction of $99,880.00. Following the completion of the purchase, the director now directly owns 8,776 shares of the company’s stock, valued at approximately $438,273.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.03% of the company’s stock.
A number of institutional investors have recently made changes to their positions in MPC. Perennial Advisors LLC purchased a new position in shares of Marathon Petroleum Corporation during the fourth quarter valued at about $101,000. Jacobi Capital Management LLC boosted its position in shares of Marathon Petroleum Corporation by 31.0% in the third quarter. Jacobi Capital Management LLC now owns 2,410 shares of the company’s stock valued at $100,000 after buying an additional 570 shares during the period. Rowland & Co. Investment Counsel ADV purchased a new position in shares of Marathon Petroleum Corporation during the third quarter valued at about $105,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of Marathon Petroleum Corporation during the fourth quarter valued at about $131,000. Finally, AlphaMark Advisors LLC boosted its position in shares of Marathon Petroleum Corporation 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 period. Hedge funds and other institutional investors own 78.16% of the company’s stock.
Marathon Petroleum Corporation 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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