Marathon Petroleum (NYSE:MPC) Given New $182.00 Price Target at Wells Fargo & Company

Marathon Petroleum (NYSE:MPC) had its target price boosted by Wells Fargo & Company from $180.00 to $182.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

A number of other equities research analysts also recently weighed in on MPC. Raymond James dropped their target price on Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 9th. Barclays lifted their target price on Marathon Petroleum from $141.00 to $159.00 and gave the stock an “overweight” rating in a report on Monday, May 12th. Wall Street Zen raised Marathon Petroleum from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Piper Sandler dropped their target price on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Finally, Morgan Stanley dropped their target price on Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $176.21.

Marathon Petroleum Trading Up 0.6%

MPC stock opened at $165.99 on Wednesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The company has a fifty day moving average price of $147.49 and a two-hundred day moving average price of $146.44. Marathon Petroleum has a one year low of $115.10 and a one year high of $183.31. The stock has a market cap of $50.99 billion, a price-to-earnings ratio of 16.72, a price-to-earnings-growth ratio of 3.11 and a beta of 0.89.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The firm had revenue of $31.85 billion during the quarter, compared to analysts’ expectations of $28.91 billion. During the same period in the previous year, the business posted $2.58 earnings per share. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. Equities analysts anticipate that Marathon Petroleum will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st were given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Wednesday, May 21st. Marathon Petroleum’s dividend payout ratio is presently 51.20%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Marathon Petroleum by 12.3% in the first quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company’s stock valued at $5,090,611,000 after acquiring an additional 3,834,501 shares during the last quarter. Wellington Management Group LLP grew its position in Marathon Petroleum by 18.7% in the first quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock valued at $1,722,664,000 after acquiring an additional 1,862,674 shares during the last quarter. Raymond James Financial Inc. grew its position in Marathon Petroleum by 6.3% in the first quarter. Raymond James Financial Inc. now owns 6,037,532 shares of the oil and gas company’s stock valued at $879,608,000 after acquiring an additional 355,215 shares during the last quarter. Boston Partners grew its position in Marathon Petroleum by 58.5% in the first quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock valued at $791,274,000 after acquiring an additional 2,011,810 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Marathon Petroleum by 3.7% in the first quarter. Bank of New York Mellon Corp now owns 4,982,348 shares of the oil and gas company’s stock valued at $725,878,000 after acquiring an additional 178,397 shares during the last quarter. Institutional investors 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.