Marathon Petroleum (NYSE:MPC) PT Lowered to $145.00 at Piper Sandler

Marathon Petroleum (NYSE:MPC) had its target price lowered by Piper Sandler from $168.00 to $145.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the oil and gas company’s stock.

MPC has been the topic of a number of other reports. Morgan Stanley lowered their target price on shares of Marathon Petroleum from $196.00 to $182.00 and set an overweight rating on the stock in a research note on Monday, September 16th. Wells Fargo & Company dropped their price objective on Marathon Petroleum from $223.00 to $196.00 and set an overweight rating on the stock in a research note on Friday, July 12th. Wolfe Research began coverage on Marathon Petroleum in a research note on Thursday, July 18th. They set an outperform rating and a $200.00 target price for the company. StockNews.com downgraded Marathon Petroleum from a buy rating to a hold rating in a research report on Friday, June 14th. Finally, Jefferies Financial Group increased their price objective on Marathon Petroleum from $222.00 to $231.00 and gave the company a buy rating in a research report on Monday, July 15th. Two equities 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 issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $197.69.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $164.21 on Friday. The stock has a market capitalization of $57.86 billion, a P/E ratio of 8.20, a P/E/G ratio of 2.09 and a beta of 1.38. The business has a 50-day moving average of $169.94 and a two-hundred day moving average of $179.73. Marathon Petroleum has a fifty-two week low of $139.32 and a fifty-two week high of $221.11. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90.

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

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio is 16.48%.

Institutional Investors Weigh In On Marathon Petroleum

Several large investors have recently modified their holdings of MPC. Raymond James & Associates boosted its stake in Marathon Petroleum by 2.6% in the 2nd quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company’s stock valued at $743,690,000 after buying an additional 107,915 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Marathon Petroleum by 1.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company’s stock worth $620,815,000 after purchasing an additional 31,100 shares during the last quarter. Boston Partners increased its position in shares of Marathon Petroleum by 0.3% during the 1st quarter. Boston Partners now owns 2,773,050 shares of the oil and gas company’s stock worth $558,390,000 after purchasing an additional 8,476 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Marathon Petroleum by 8.5% during the 2nd quarter. Pacer Advisors Inc. now owns 2,669,815 shares of the oil and gas company’s stock worth $463,160,000 after purchasing an additional 209,270 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in Marathon Petroleum by 7.6% during the 1st quarter. Acadian Asset Management LLC now owns 1,663,835 shares of the oil and gas company’s stock valued at $335,241,000 after purchasing an additional 117,790 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.

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.