Marathon Petroleum (NYSE:MPC) Price Target Raised to $518.00

Marathon Petroleum (NYSE:MPC) had its price target hoisted by Citigroup from $318.00 to $518.00 in a research note issued to investors on Tuesday,Benzinga reports. Citigroup currently has a neutral rating on the oil and gas company’s stock.

MPC has been the topic of a number of other reports. UBS Group set a $510.00 target price on shares of Marathon Petroleum in a report on Friday, October 9th. Morgan Stanley lifted their price target on shares of Marathon Petroleum from $265.00 to $453.00 and gave the company an “overweight” rating in a report on Monday, September 14th. Wells Fargo & Company boosted their price objective on shares of Marathon Petroleum from $359.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, September 1st. TD Cowen increased their price objective on shares of Marathon Petroleum from $357.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Bank of America increased their price objective on shares of Marathon Petroleum from $410.00 to $426.00 and gave the stock a “neutral” rating in a research note on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average price target of $417.88.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $476.39 on Tuesday. Marathon Petroleum has a twelve month low of $161.93 and a twelve month high of $485.22. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $139.08 billion, a price-to-earnings ratio of 16.38, a price-to-earnings-growth ratio of 0.14 and a beta of 0.54. The business has a 50 day simple moving average of $394.03 and a 200-day simple moving average of $307.75.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%. The firm had revenue of $51.99 billion for the quarter, compared to analysts’ expectations of $40.87 billion. During the same period last year, the business posted $3.96 earnings per share. The firm’s revenue for the quarter was up 53.5% on a year-over-year basis. As a group, equities research analysts expect that Marathon Petroleum will post 62.78 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were given a $1.00 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $4.00 annualized dividend and a yield of 0.8%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 13.75%.

Insiders Place Their Bets

In other Marathon Petroleum news, insider Molly Benson sold 17,196 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $358.57, for a total value of $6,165,969.72. Following the sale, the insider owned 30,334 shares in the company, valued at approximately $10,876,862.38. This trade represents a 36.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Shawn Lyon sold 2,500 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the sale, the senior vice president directly owned 12,619 shares in the company, valued at approximately $4,416,650. This trade represents a 16.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 21,691 shares of company stock worth $7,780,127. Insiders own 0.17% of the company’s stock.

Institutional Trading of Marathon Petroleum

Large investors have recently added to or reduced their stakes in the business. Solstein Capital LLC bought a new position in shares of Marathon Petroleum in the second quarter worth $26,000. Caitlin John LLC bought a new stake in shares of Marathon Petroleum during the second quarter valued at about $26,000. Bell Investment Advisors Inc bought a new stake in shares of Marathon Petroleum during the second quarter valued at about $27,000. Main Street Group LTD acquired a new position in Marathon Petroleum during the 1st quarter valued at about $35,000. Finally, Cetera Trust Company N.A acquired a new position in Marathon Petroleum during the 2nd quarter valued at about $35,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

More Marathon Petroleum News

Here are the key news stories impacting Marathon Petroleum this week:

• Positive Sentiment: Wells Fargo initiated or reiterated a Buy rating on Marathon Petroleum, adding to positive analyst sentiment toward the refiner. Wells Fargo Issues a Buy Rating on Marathon Petroleum
• Positive Sentiment: Barclays raised its price target to $488, while other recent research lifted Marathon Petroleum’s estimated fair value as analysts updated their assumptions for refining margins and crack spreads. Barclays raises Marathon Petroleum stock target
• Positive Sentiment: Improving refining margins have supported stronger earnings expectations for MPC and peers. Marathon Petroleum is also being viewed as a relatively lower-volatility energy stock and a potential hedge against diesel-market weakness and broader geopolitical volatility. Marathon Petroleum: A Solid Hedge Vs. Diesel’s Damage
• Neutral Sentiment: In a comparison with Delek US, both refiners were described as benefiting from stronger earnings and better margins. However, Delek’s lower valuation and more favorable earnings-estimate revisions gave it the edge, potentially limiting incremental buying interest in MPC. Marathon vs. Delek US
• Negative Sentiment: Recent analysis questioned whether MPC’s share price is fully supported by future cash-flow generation after the stock’s roughly sevenfold five-year gain. The shares have also approached a new 12-month high, increasing the risk of profit-taking and valuation-driven selling. Can Marathon Petroleum Still Justify Its Price on Cash Flow?
• Negative Sentiment: One updated fair-value estimate of approximately $433.44 remains below the recent trading level, reinforcing concerns that much of the improved refining outlook may already be reflected in MPC’s valuation. Marathon Petroleum Fair Value Boost

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE:MPC) is an integrated downstream energy company engaged primarily in refining, marketing and transporting petroleum products. The company converts crude oil and other feedstocks into gasoline, diesel, jet fuel, asphalt, propane and other refined products used by consumers, businesses and industrial customers.

Marathon Petroleum operates refineries and related logistics assets in the United States, with a refining and marketing presence serving markets across the Midwest, Gulf Coast and West Coast.