Marathon Petroleum (NYSE:MPC) Now Covered by Analysts at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Marathon Petroleum (NYSE:MPC) in a research note released on Friday morning, MarketBeat.com reports. The firm issued an overweight rating and a $214.00 price target on the oil and gas company’s stock.

Several other brokerages have also issued reports on MPC. Weiss Ratings reiterated a “hold (c)” rating on shares of Marathon Petroleum in a research note on Wednesday, October 8th. Evercore ISI boosted their price objective on Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a research report on Friday, September 19th. TD Cowen lowered their target price on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Scotiabank reaffirmed an “outperform” rating on shares of Marathon Petroleum in a report on Thursday, October 9th. Finally, Raymond James Financial upped their target price on Marathon Petroleum from $195.00 to $199.00 and gave the stock an “outperform” rating in a report on Tuesday, September 9th. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $200.31.

Marathon Petroleum Trading Up 1.7%

Shares of MPC opened at $184.14 on Friday. Marathon Petroleum has a 52-week low of $115.10 and a 52-week high of $201.61. The business’s fifty day moving average is $180.61 and its 200-day moving average is $164.76. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. The firm has a market cap of $55.98 billion, a price-to-earnings ratio of 27.32, a PEG ratio of 2.83 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The company had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. During the same quarter last year, the company posted $4.12 EPS. The company’s revenue for the quarter was down 11.1% compared to the same quarter last year. Equities analysts anticipate that Marathon Petroleum will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum’s payout ratio is 54.01%.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the company’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the sale, the insider owned 28,700 shares in the company, valued at approximately $4,678,100. The trade was a 27.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Marathon Petroleum

Institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC boosted its position in shares of Marathon Petroleum by 30.9% during the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock valued at $696,000 after purchasing an additional 1,178 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Marathon Petroleum by 3.4% during the 1st quarter. GAMMA Investing LLC now owns 10,577 shares of the oil and gas company’s stock valued at $1,541,000 after purchasing an additional 351 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Marathon Petroleum by 2.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 110,599 shares of the oil and gas company’s stock valued at $16,113,000 after purchasing an additional 2,539 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its position in shares of Marathon Petroleum by 7.8% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 5,024 shares of the oil and gas company’s stock valued at $734,000 after purchasing an additional 364 shares in the last quarter. Finally, CWA Asset Management Group LLC boosted its position in shares of Marathon Petroleum by 15.7% during the 1st quarter. CWA Asset Management Group LLC now owns 2,785 shares of the oil and gas company’s stock valued at $406,000 after purchasing an additional 378 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

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.