Marathon Petroleum (MPC) Price Target Lowered to $86.00 at JPMorgan Chase

Marathon Petroleum (NYSE:MPC) had its price objective cut by JPMorgan Chase from $90.00 to $86.00 in a report published on Monday. They currently have an overweight rating on the oil and gas company’s stock.

MPC has been the subject of several other research reports. Cowen reissued an outperform rating and set a $90.00 price target (up previously from $76.00) on shares of Marathon Petroleum in a report on Thursday, February 1st. Citigroup upped their price objective on Marathon Petroleum from $75.00 to $80.00 and gave the stock a buy rating in a research note on Tuesday, March 13th. Wells Fargo reaffirmed a market perform rating and issued a $66.00 price objective (down previously from $72.00) on shares of Marathon Petroleum in a research note on Thursday, March 15th. They noted that the move was a valuation call. Scotiabank reaffirmed a hold rating and issued a $75.00 price objective on shares of Marathon Petroleum in a research note on Wednesday, January 10th. Finally, Royal Bank of Canada reaffirmed a buy rating and issued a $89.00 price objective on shares of Marathon Petroleum in a research note on Tuesday, January 30th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $79.79.

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NYSE:MPC opened at $71.67 on Monday. Marathon Petroleum has a 52-week low of $47.78 and a 52-week high of $74.92. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.28 and a quick ratio of 0.75. The stock has a market cap of $34,490.53, a price-to-earnings ratio of 18.86, a P/E/G ratio of 1.08 and a beta of 1.33.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Thursday, February 1st. The oil and gas company reported $1.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.05. Marathon Petroleum had a return on equity of 9.90% and a net margin of 4.60%. The business had revenue of $21.24 billion during the quarter, compared to analyst estimates of $17.27 billion. During the same quarter in the previous year, the company posted $0.43 earnings per share. Marathon Petroleum’s revenue for the quarter was up 22.9% on a year-over-year basis. equities research analysts predict that Marathon Petroleum will post 4.64 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, March 12th. Investors of record on Wednesday, February 21st were given a $0.46 dividend. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.40. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date was Tuesday, February 20th. Marathon Petroleum’s payout ratio is currently 48.42%.

In related news, insider Thomas M. Kelley sold 20,000 shares of the business’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $69.77, for a total value of $1,395,400.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Charles E. Bunch bought 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 6th. The stock was purchased at an average price of $67.38 per share, for a total transaction of $101,070.00. Following the completion of the transaction, the director now directly owns 12,853 shares of the company’s stock, valued at approximately $866,035.14. The disclosure for this purchase can be found here. 1.09% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its position in shares of Marathon Petroleum by 6.7% in the fourth quarter. Geode Capital Management LLC now owns 5,870,292 shares of the oil and gas company’s stock worth $386,599,000 after buying an additional 367,650 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Marathon Petroleum by 9.9% in the fourth quarter. Bank of New York Mellon Corp now owns 5,209,413 shares of the oil and gas company’s stock worth $343,716,000 after buying an additional 470,220 shares in the last quarter. Millennium Management LLC lifted its position in shares of Marathon Petroleum by 24.3% in the fourth quarter. Millennium Management LLC now owns 5,209,211 shares of the oil and gas company’s stock worth $343,704,000 after buying an additional 1,019,354 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Marathon Petroleum by 28.1% in the fourth quarter. Deutsche Bank AG now owns 4,208,375 shares of the oil and gas company’s stock worth $277,664,000 after buying an additional 923,646 shares in the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of Marathon Petroleum by 61.6% in the third quarter. Prudential Financial Inc. now owns 3,987,706 shares of the oil and gas company’s stock worth $223,630,000 after buying an additional 1,520,471 shares in the last quarter. Institutional investors own 80.34% of the company’s stock.

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About Marathon Petroleum

Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.

Analyst Recommendations for Marathon Petroleum (NYSE:MPC)

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