Marathon Petroleum (NYSE:MPC) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Marathon Petroleum (NYSE:MPCGet Rating) from a buy rating to a strong-buy rating in a research report sent to investors on Wednesday morning.

A number of other brokerages also recently issued reports on MPC. Raymond James raised their price target on Marathon Petroleum from $98.00 to $110.00 and gave the stock a strong-buy rating in a research report on Friday, April 8th. Wells Fargo & Company lifted their target price on Marathon Petroleum from $117.00 to $129.00 and gave the stock an overweight rating in a research report on Tuesday, June 14th. Credit Suisse Group lifted their target price on Marathon Petroleum to $130.00 in a research report on Thursday, June 9th. Citigroup lifted their target price on Marathon Petroleum from $85.00 to $108.00 and gave the stock a buy rating in a research report on Tuesday, April 26th. Finally, JPMorgan Chase & Co. lifted their target price on Marathon Petroleum from $95.00 to $109.00 in a research report on Tuesday, May 17th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Buy and a consensus target price of $112.83.

Marathon Petroleum Stock Up 0.1 %

Shares of MPC opened at $90.22 on Wednesday. The company has a market cap of $44.99 billion, a PE ratio of 6.10, a P/E/G ratio of 0.20 and a beta of 1.76. The business has a fifty day moving average of $91.74 and a 200 day moving average of $86.18. Marathon Petroleum has a 52-week low of $53.47 and a 52-week high of $114.35. The company has a quick ratio of 1.07, a current ratio of 1.49 and a debt-to-equity ratio of 0.79.

Marathon Petroleum (NYSE:MPCGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The oil and gas company reported $10.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.98 by $5.63. The company had revenue of $54.33 billion during the quarter, compared to the consensus estimate of $44.26 billion. Marathon Petroleum had a return on equity of 23.85% and a net margin of 5.09%. Marathon Petroleum’s revenue was up 82.1% on a year-over-year basis. During the same period last year, the company earned $0.67 earnings per share. On average, sell-side analysts expect that Marathon Petroleum will post 20.54 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Wednesday, August 17th will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Tuesday, August 16th. This represents a $2.32 annualized dividend and a dividend yield of 2.57%. Marathon Petroleum’s dividend payout ratio is currently 15.68%.

Insider Activity

In other Marathon Petroleum news, VP Raymond L. Brooks sold 133,857 shares of Marathon Petroleum stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $96.82, for a total value of $12,960,034.74. Following the transaction, the vice president now owns 63,248 shares in the company, valued at $6,123,671.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On Marathon Petroleum

Several institutional investors and hedge funds have recently added to or reduced their stakes in MPC. Allspring Global Investments Holdings LLC purchased a new position in Marathon Petroleum in the fourth quarter valued at about $10,039,000. CWM LLC purchased a new position in Marathon Petroleum in the fourth quarter valued at about $718,000. Xponance Inc. grew its stake in shares of Marathon Petroleum by 21.7% during the fourth quarter. Xponance Inc. now owns 39,526 shares of the oil and gas company’s stock worth $2,529,000 after acquiring an additional 7,037 shares during the last quarter. Ieq Capital LLC grew its stake in shares of Marathon Petroleum by 5.0% during the fourth quarter. Ieq Capital LLC now owns 8,916 shares of the oil and gas company’s stock worth $571,000 after acquiring an additional 427 shares during the last quarter. Finally, Cozad Asset Management Inc. grew its stake in shares of Marathon Petroleum by 12.7% during the fourth quarter. Cozad Asset Management Inc. now owns 4,803 shares of the oil and gas company’s stock worth $307,000 after acquiring an additional 540 shares during the last quarter. Hedge funds and other institutional investors own 80.91% of the company’s stock.

Marathon Petroleum Company Profile

(Get Rating)

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. 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.

Further Reading

Analyst Recommendations for Marathon Petroleum (NYSE:MPC)

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