Cowen reiterated their outperform rating on shares of Marathon Petroleum (NYSE:MPC) in a research report report published on Thursday, Marketbeat reports. They currently have a $101.00 price objective on the oil and gas company’s stock, up from their previous price objective of $87.00. The analysts noted that the move was a valuation call.
MPC has been the topic of a number of other research reports. Citigroup upped their target price on shares of Marathon Petroleum from $95.00 to $100.00 and gave the company a buy rating in a research note on Friday, September 7th. Tudor Pickering raised shares of Marathon Petroleum from a hold rating to a buy rating in a research note on Thursday, October 11th. Morgan Stanley set a $110.00 price objective on shares of Marathon Petroleum and gave the stock a buy rating in a research note on Friday, October 12th. Zacks Investment Research cut shares of Marathon Petroleum from a buy rating to a hold rating in a research note on Tuesday, September 11th. Finally, ValuEngine cut shares of Marathon Petroleum from a buy rating to a hold rating in a research note on Thursday, November 1st. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $92.93.
NYSE MPC traded up $0.13 on Thursday, reaching $63.68. The company’s stock had a trading volume of 405,335 shares, compared to its average volume of 5,708,499. The stock has a market cap of $43.76 billion, a P/E ratio of 16.74, a PEG ratio of 0.86 and a beta of 1.43. Marathon Petroleum has a 52 week low of $60.64 and a 52 week high of $88.45. The company has a quick ratio of 1.09, a current ratio of 1.65 and a debt-to-equity ratio of 0.97.
Marathon Petroleum (NYSE:MPC) last posted its earnings results on Thursday, November 1st. The oil and gas company reported $1.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.02. The business had revenue of $23.13 billion for the quarter, compared to analysts’ expectations of $23.20 billion. Marathon Petroleum had a net margin of 4.48% and a return on equity of 12.28%. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.77 earnings per share. Research analysts anticipate that Marathon Petroleum will post 5.14 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Wednesday, November 21st will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $1.84 annualized dividend and a yield of 2.89%. Marathon Petroleum’s dividend payout ratio is 48.42%.
In other news, Director Steven A. Davis acquired 2,500 shares of the firm’s stock in a transaction on Monday, November 19th. The shares were purchased at an average cost of $62.20 per share, with a total value of $155,500.00. Following the completion of the purchase, the director now owns 16,462 shares of the company’s stock, valued at $1,023,936.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.09% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of MPC. Marshall Wace LLP bought a new stake in shares of Marathon Petroleum during the third quarter valued at approximately $1,255,000. Strategic Wealth Partners Ltd. grew its stake in shares of Marathon Petroleum by 7.9% during the third quarter. Strategic Wealth Partners Ltd. now owns 17,183 shares of the oil and gas company’s stock valued at $1,374,000 after purchasing an additional 1,251 shares during the last quarter. Carnegie Capital Asset Management LLC grew its stake in shares of Marathon Petroleum by 47.8% during the third quarter. Carnegie Capital Asset Management LLC now owns 13,357 shares of the oil and gas company’s stock valued at $876,000 after purchasing an additional 4,321 shares during the last quarter. Belpointe Asset Management LLC bought a new stake in shares of Marathon Petroleum during the third quarter valued at approximately $164,000. Finally, Vanguard Group Inc. grew its stake in shares of Marathon Petroleum by 0.7% during the third quarter. Vanguard Group Inc. now owns 35,373,004 shares of the oil and gas company’s stock valued at $2,828,779,000 after purchasing an additional 255,599 shares during the last quarter. 83.16% of the stock is currently owned by hedge funds and other institutional investors.
Marathon Petroleum Company Profile
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.
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