Marathon Petroleum (NYSE:MPC) Price Target Lowered to $182.00 at Morgan Stanley

Marathon Petroleum (NYSE:MPC) had its price target reduced by Morgan Stanley from $196.00 to $182.00 in a research note published on Monday, Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

Several other research firms have also recently commented on MPC. TD Cowen raised their target price on shares of Marathon Petroleum from $187.00 to $190.00 and gave the stock a buy rating in a research note on Wednesday, August 7th. Scotiabank lowered their price objective on Marathon Petroleum from $207.00 to $191.00 and set a sector outperform rating on the stock in a report on Friday, July 12th. Wells Fargo & Company dropped their target price on Marathon Petroleum from $223.00 to $196.00 and set an overweight rating on the stock in a research report on Friday, July 12th. StockNews.com cut Marathon Petroleum from a buy rating to a hold rating in a report on Friday, June 14th. Finally, Mizuho dropped their price objective on Marathon Petroleum from $198.00 to $193.00 and set a neutral rating on the stock in a report on Monday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of $199.46.

Marathon Petroleum Stock Performance

NYSE MPC opened at $166.36 on Monday. The firm has a market cap of $58.61 billion, a P/E ratio of 8.31, a P/E/G ratio of 2.09 and a beta of 1.38. Marathon Petroleum has a 52-week low of $139.32 and a 52-week high of $221.11. The business’s 50-day moving average price is $170.01 and its 200 day moving average price is $179.84. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The business had revenue of $38.36 billion for the quarter, compared to analyst estimates of $36.66 billion. During the same quarter in the previous year, the company posted $5.32 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities research analysts expect that Marathon Petroleum will post 12.68 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were issued a dividend of $0.825 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $3.30 annualized dividend and a yield of 1.98%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 16.48%.

Institutional Investors Weigh In On Marathon Petroleum

Large investors have recently bought and sold shares of the stock. NBC Securities Inc. lifted its stake in shares of Marathon Petroleum by 0.9% during the first quarter. NBC Securities Inc. now owns 6,333 shares of the oil and gas company’s stock valued at $1,276,000 after buying an additional 55 shares during the period. Guidance Capital Inc. grew its position in shares of Marathon Petroleum by 1.1% in the first quarter. Guidance Capital Inc. now owns 5,483 shares of the oil and gas company’s stock valued at $1,135,000 after purchasing an additional 57 shares during the period. WR Wealth Planners LLC increased its stake in Marathon Petroleum by 15.2% in the second quarter. WR Wealth Planners LLC now owns 431 shares of the oil and gas company’s stock valued at $75,000 after purchasing an additional 57 shares during the last quarter. Bruce G. Allen Investments LLC lifted its position in Marathon Petroleum by 27.3% during the first quarter. Bruce G. Allen Investments LLC now owns 275 shares of the oil and gas company’s stock worth $55,000 after buying an additional 59 shares during the period. Finally, First Financial Corp IN grew its holdings in Marathon Petroleum by 2.5% in the 1st quarter. First Financial Corp IN now owns 2,429 shares of the oil and gas company’s stock valued at $489,000 after buying an additional 59 shares during the period. Institutional investors and hedge funds 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.