Marathon Petroleum (NYSE:MPC – Free Report) had its price target lifted by Mizuho from $284.00 to $304.00 in a research note issued to investors on Tuesday, MarketBeat reports. The brokerage currently has a neutral rating on the oil and gas company’s stock.
Several other research firms also recently weighed in on MPC. Evercore set a $330.00 target price on shares of Marathon Petroleum in a research report on Wednesday, August 5th. Wall Street Zen raised shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. Zacks Research downgraded Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 17th. Jefferies Financial Group set a $335.00 price objective on Marathon Petroleum and gave the company a “buy” rating in a report on Sunday, July 12th. Finally, Barclays upped their price objective on Marathon Petroleum from $289.00 to $321.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $312.50.
Marathon Petroleum Stock Up 2.5%
Marathon Petroleum (NYSE:MPC – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The business had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. During the same quarter in the previous year, the firm earned $3.96 earnings per share. The business’s revenue was up 53.5% compared to the same quarter last year. On average, equities research analysts predict that Marathon Petroleum will post 46.66 earnings per share for the current fiscal year.
Marathon Petroleum Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 13.75%.
Insider Activity at Marathon Petroleum
In related news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the sale, the vice president owned 16,900 shares of the company’s stock, valued at $4,543,058. This represents a 27.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.17% of the company’s stock.
Hedge Funds Weigh In On Marathon Petroleum
Large investors have recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Marathon Petroleum by 3.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,288 shares of the oil and gas company’s stock worth $329,000 after purchasing an additional 40 shares during the last quarter. Equitable Trust Co. grew its stake in Marathon Petroleum by 1.6% during the 1st quarter. Equitable Trust Co. now owns 2,637 shares of the oil and gas company’s stock worth $644,000 after buying an additional 42 shares during the last quarter. Bartlett & CO. Wealth Management LLC grew its stake in Marathon Petroleum by 0.4% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 9,548 shares of the oil and gas company’s stock worth $2,411,000 after buying an additional 42 shares during the last quarter. Wellington Grp LLC increased its position in Marathon Petroleum by 9.6% in the first quarter. Wellington Grp LLC now owns 516 shares of the oil and gas company’s stock worth $126,000 after buying an additional 45 shares during the period. Finally, Avior Wealth Management LLC lifted its stake in Marathon Petroleum by 2.2% in the second quarter. Avior Wealth Management LLC now owns 2,108 shares of the oil and gas company’s stock valued at $539,000 after buying an additional 46 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.
About Marathon Petroleum
Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.
Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.
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