Marathon Petroleum (NYSE:MPC) Price Target Lowered to $147.00 at Scotiabank

Marathon Petroleum (NYSE:MPC) had its price target cut by Scotiabank from $169.00 to $147.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a sector outperform rating on the oil and gas company’s stock.

A number of other analysts have also weighed in on the company. Wells Fargo & Company cut their price objective on Marathon Petroleum from $185.00 to $175.00 and set an “overweight” rating on the stock in a research report on Friday. Mizuho lowered their price objective on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Raymond James decreased their price target on shares of Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating for the company in a research note on Wednesday. Tudor Pickering raised shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, Piper Sandler decreased their price objective on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $177.21.

Marathon Petroleum Trading Up 1.4 %

Shares of NYSE MPC opened at $123.29 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $38.41 billion, a PE ratio of 12.42, a PEG ratio of 3.11 and a beta of 1.04. Marathon Petroleum has a twelve month low of $115.10 and a twelve month high of $214.00. The stock has a fifty day simple moving average of $143.65 and a 200-day simple moving average of $148.82.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. The company had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.98 earnings per share. On average, equities analysts forecast that Marathon Petroleum will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were issued a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.95%. Marathon Petroleum’s payout ratio is 36.66%.

Insider Activity at Marathon Petroleum

In related news, Director Evan Bayh purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average cost of $133.70 per share, with a total value of $133,700.00. Following the completion of the acquisition, the director now directly owns 69,305 shares in the company, valued at $9,266,078.50. This trade represents a 1.46 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ricky D. Hessling acquired 2,000 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was purchased at an average cost of $134.72 per share, for a total transaction of $269,440.00. Following the completion of the purchase, the insider now directly owns 12,162 shares in the company, valued at $1,638,464.64. This trade represents a 19.68 % increase in their position. The disclosure for this purchase can be found here. 0.21% of the stock is owned by insiders.

Institutional Trading of Marathon Petroleum

Several hedge funds and other institutional investors have recently made changes to their positions in the company. M&T Bank Corp increased its position in Marathon Petroleum by 1.5% during the 3rd quarter. M&T Bank Corp now owns 33,349 shares of the oil and gas company’s stock worth $5,432,000 after purchasing an additional 485 shares during the period. TD Private Client Wealth LLC boosted its stake in shares of Marathon Petroleum by 7.1% in the third quarter. TD Private Client Wealth LLC now owns 5,673 shares of the oil and gas company’s stock valued at $924,000 after buying an additional 375 shares in the last quarter. Virtu Financial LLC grew its holdings in Marathon Petroleum by 13.3% during the third quarter. Virtu Financial LLC now owns 4,373 shares of the oil and gas company’s stock worth $712,000 after acquiring an additional 515 shares during the period. Tudor Financial Inc. purchased a new position in Marathon Petroleum in the third quarter worth $823,000. Finally, Stock Yards Bank & Trust Co. lifted its holdings in Marathon Petroleum by 1.0% in the third quarter. Stock Yards Bank & Trust Co. now owns 12,038 shares of the oil and gas company’s stock valued at $1,961,000 after acquiring an additional 116 shares during the period. Hedge funds and other 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.