Marathon Petroleum (NYSE:MPC) Price Target Raised to $202.00

Marathon Petroleum (NYSE:MPC) had its price objective boosted by Barclays from $194.00 to $202.00 in a research note published on Monday,Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marathon Petroleum in a research note on Wednesday, October 8th. Mizuho increased their target price on shares of Marathon Petroleum from $184.00 to $188.00 and gave the stock a “neutral” rating in a report on Monday, September 15th. Morgan Stanley lifted their price target on shares of Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, October 3rd. JPMorgan Chase & Co. boosted their price target on shares of Marathon Petroleum from $183.00 to $211.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. Finally, UBS Group raised their price objective on Marathon Petroleum from $203.00 to $220.00 and gave the company a “buy” rating in a report on Friday, September 26th. Eight investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $202.14.

Marathon Petroleum Price Performance

MPC stock opened at $195.56 on Monday. The stock has a market cap of $58.79 billion, a PE ratio of 20.85, a price-to-earnings-growth ratio of 4.82 and a beta of 0.90. The stock has a 50-day moving average price of $190.56 and a two-hundred day moving average price of $175.49. Marathon Petroleum has a 1 year low of $115.10 and a 1 year high of $202.29. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.01. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%.The company had revenue of $34.81 billion during the quarter, compared to analysts’ expectations of $31.06 billion. Equities analysts forecast that Marathon Petroleum will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 19th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Wednesday, November 19th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s payout ratio is currently 38.81%.

Hedge Funds Weigh In On Marathon Petroleum

A number of institutional investors have recently bought and sold shares of MPC. Concord Asset Management LLC VA purchased a new stake in shares of Marathon Petroleum during the 2nd quarter valued at $412,000. Jump Financial LLC increased its stake in Marathon Petroleum by 128.0% in the first quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company’s stock valued at $1,262,000 after acquiring an additional 4,863 shares during the last quarter. FSM Wealth Advisors LLC bought a new position in Marathon Petroleum in the second quarter valued at $685,000. Journey Strategic Wealth LLC raised its position in Marathon Petroleum by 105.0% during the first quarter. Journey Strategic Wealth LLC now owns 8,582 shares of the oil and gas company’s stock valued at $1,250,000 after purchasing an additional 4,396 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Marathon Petroleum by 12.6% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 578,641 shares of the oil and gas company’s stock worth $84,302,000 after purchasing an additional 64,849 shares during the last quarter. Institutional investors and hedge funds 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.