Marathon Petroleum (NYSE:MPC) Price Target Raised to $376.00

Marathon Petroleum (NYSE:MPC) had its price target hoisted by The Goldman Sachs Group from $291.00 to $376.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the oil and gas company’s stock.

A number of other equities research analysts have also recently issued reports on MPC. Wells Fargo & Company restated an “overweight” rating and issued a $344.00 price objective on shares of Marathon Petroleum in a research note on Monday, June 15th. Piper Sandler increased their target price on shares of Marathon Petroleum from $197.00 to $228.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Zacks Research downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 17th. JPMorgan Chase & Co. boosted their price target on shares of Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Finally, Raymond James Financial upped their price target on shares of Marathon Petroleum from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $298.69.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $309.14 on Wednesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73. The business has a fifty day simple moving average of $268.66 and a two-hundred day simple moving average of $232.62. Marathon Petroleum has a 1 year low of $158.00 and a 1 year high of $326.92. The company has a market capitalization of $90.25 billion, a P/E ratio of 20.18, a P/E/G ratio of 0.21 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.91. The firm had revenue of $34.20 billion for the quarter, compared to analyst estimates of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The business’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.24) earnings per share. On average, analysts expect that Marathon Petroleum will post 40.64 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Wednesday, May 20th. Marathon Petroleum’s payout ratio is presently 26.11%.

Insider Buying and Selling at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the sale, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. This represents a 27.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.17% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Marathon Petroleum

Several hedge funds have recently bought and sold shares of the company. State Street Corp boosted its holdings in Marathon Petroleum by 0.3% in the 4th quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company’s stock valued at $2,916,660,000 after purchasing an additional 47,896 shares during the period. Boston Partners raised its position in shares of Marathon Petroleum by 2.3% in the third quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock worth $1,214,522,000 after buying an additional 141,691 shares in the last quarter. Norges Bank bought a new stake in Marathon Petroleum during the fourth quarter valued at $472,312,000. Charles Schwab Investment Management Inc. boosted its stake in Marathon Petroleum by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,818,361 shares of the oil and gas company’s stock valued at $458,350,000 after buying an additional 11,693 shares during the period. Finally, Invesco Ltd. grew its position in Marathon Petroleum by 2.7% during the fourth quarter. Invesco Ltd. now owns 2,600,191 shares of the oil and gas company’s stock worth $422,869,000 after buying an additional 67,600 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Company Profile

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.