Marathon Petroleum (NYSE:MPC) Price Target Cut to $185.00

Marathon Petroleum (NYSE:MPC) had its price target trimmed by Barclays from $195.00 to $185.00 in a report released on Monday, Benzinga reports. The brokerage currently has an overweight rating on the oil and gas company’s stock.

Several other analysts also recently weighed in on the company. Mizuho dropped their price target on Marathon Petroleum from $203.00 to $201.00 and set a neutral rating on the stock in a research note on Thursday, June 20th. StockNews.com lowered shares of Marathon Petroleum from a buy rating to a hold rating in a research report on Friday, June 14th. Scotiabank lifted their price objective on shares of Marathon Petroleum from $175.00 to $207.00 and gave the company a sector outperform rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. increased their price objective on shares of Marathon Petroleum from $172.00 to $186.00 and gave the stock a neutral rating in a research note on Monday, April 1st. Finally, Piper Sandler decreased their target price on shares of Marathon Petroleum from $190.00 to $168.00 and set a neutral rating for the company in a research report on Friday, June 14th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Marathon Petroleum has a consensus rating of Moderate Buy and an average price target of $191.31.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC opened at $174.99 on Monday. The company has a quick ratio of 0.99, a current ratio of 1.43 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $61.65 billion, a price-to-earnings ratio of 8.74, a price-to-earnings-growth ratio of 1.63 and a beta of 1.40. The firm has a 50 day moving average of $177.24 and a 200 day moving average of $176.30. Marathon Petroleum has a 52 week low of $112.82 and a 52 week high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.25. The firm had revenue of $32.71 billion for the quarter, compared to the consensus estimate of $32.07 billion. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.09 EPS. On average, sell-side analysts predict that Marathon Petroleum will post 17.85 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend was Wednesday, May 15th. Marathon Petroleum’s payout ratio is 16.48%.

Marathon Petroleum announced that its Board of Directors has approved a share buyback plan on Tuesday, April 30th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the oil and gas company to repurchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of Marathon Petroleum

A number of hedge funds have recently bought and sold shares of MPC. Scarborough Advisors LLC grew its holdings in shares of Marathon Petroleum by 10.7% in the fourth quarter. Scarborough Advisors LLC now owns 2,174 shares of the oil and gas company’s stock valued at $323,000 after purchasing an additional 210 shares during the period. Global Assets Advisory LLC purchased a new stake in shares of Marathon Petroleum in the 1st quarter valued at approximately $36,823,000. First Horizon Advisors Inc. increased its holdings in shares of Marathon Petroleum by 8.9% during the 4th quarter. First Horizon Advisors Inc. now owns 1,174 shares of the oil and gas company’s stock worth $174,000 after buying an additional 96 shares during the last quarter. Canoe Financial LP purchased a new stake in shares of Marathon Petroleum during the 4th quarter valued at approximately $33,604,000. Finally, Allworth Financial LP lifted its holdings in Marathon Petroleum by 3.2% in the fourth quarter. Allworth Financial LP now owns 10,899 shares of the oil and gas company’s stock valued at $1,617,000 after acquiring an additional 340 shares during the last quarter. 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.