Cowen Raises Marathon Petroleum (NYSE:MPC) Price Target to $129.00

Marathon Petroleum (NYSE:MPCGet Rating) had its price objective upped by Cowen to $129.00 in a research report released on Tuesday morning, Stock Target Advisor reports.

A number of other equities research analysts have also issued reports on MPC. Barclays raised their price target on Marathon Petroleum from $94.00 to $112.00 and gave the stock an overweight rating in a research note on Tuesday, August 16th. StockNews.com upgraded Marathon Petroleum from a buy rating to a strong-buy rating in a report on Sunday, September 11th. Royal Bank of Canada raised their price objective on Marathon Petroleum from $110.00 to $121.00 and gave the stock an outperform rating in a report on Wednesday, August 3rd. Wells Fargo & Company reduced their price objective on Marathon Petroleum from $129.00 to $117.00 and set an overweight rating on the stock in a report on Wednesday, August 3rd. Finally, BMO Capital Markets initiated coverage on Marathon Petroleum in a report on Monday, June 13th. They set an outperform rating and a $135.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Buy and an average target price of $116.54.

Marathon Petroleum Price Performance

NYSE:MPC opened at $95.98 on Tuesday. The firm has a market capitalization of $47.86 billion, a price-to-earnings ratio of 6.49, a PEG ratio of 0.20 and a beta of 1.70. Marathon Petroleum has a 1 year low of $59.55 and a 1 year high of $114.35. The business has a 50 day simple moving average of $95.54 and a 200-day simple moving average of $91.55. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.49 and a quick ratio of 1.10.

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. Marathon Petroleum had a return on equity of 23.85% and a net margin of 5.09%. The firm had revenue of $54.33 billion during the quarter, compared to analyst estimates of $44.26 billion. During the same period last year, the company earned $0.67 EPS. Marathon Petroleum’s quarterly revenue was up 82.1% compared to the same quarter last year. Equities analysts forecast that Marathon Petroleum will post 21.55 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Wednesday, August 17th were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $2.32 annualized dividend and a yield of 2.42%. Marathon Petroleum’s dividend payout ratio (DPR) is 15.68%.

Insider Buying and Selling

In related news, SVP Suzanne Gagle sold 35,174 shares of the business’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $93.57, for a total transaction of $3,291,231.18. Following the transaction, the senior vice president now directly owns 43,996 shares in the company, valued at approximately $4,116,705.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Marathon Petroleum news, VP Carl Kristopher Hagedorn sold 14,353 shares of Marathon Petroleum stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $105.41, for a total transaction of $1,512,949.73. Following the completion of the sale, the vice president now owns 7,873 shares of the company’s stock, valued at approximately $829,892.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Suzanne Gagle sold 35,174 shares of Marathon Petroleum stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $93.57, for a total value of $3,291,231.18. Following the sale, the senior vice president now directly owns 43,996 shares of the company’s stock, valued at approximately $4,116,705.72. The disclosure for this sale can be found here. 0.28% of the stock is owned by company insiders.

Institutional Trading of Marathon Petroleum

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp lifted its position in Marathon Petroleum by 0.9% during the 1st quarter. State Street Corp now owns 41,765,374 shares of the oil and gas company’s stock worth $3,570,939,000 after acquiring an additional 371,647 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Marathon Petroleum by 21.9% in the 1st quarter. Bank of New York Mellon Corp now owns 12,481,878 shares of the oil and gas company’s stock valued at $1,067,202,000 after buying an additional 2,244,421 shares during the period. Invesco Ltd. lifted its holdings in shares of Marathon Petroleum by 39.0% in the 1st quarter. Invesco Ltd. now owns 6,695,296 shares of the oil and gas company’s stock valued at $572,449,000 after buying an additional 1,878,976 shares during the period. Norges Bank acquired a new position in shares of Marathon Petroleum in the 4th quarter valued at about $411,853,000. Finally, Legal & General Group Plc lifted its holdings in shares of Marathon Petroleum by 2.6% in the 2nd quarter. Legal & General Group Plc now owns 3,844,618 shares of the oil and gas company’s stock valued at $316,065,000 after buying an additional 98,903 shares during the period. Institutional investors and hedge funds own 78.69% 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.

See Also

Analyst Recommendations for Marathon Petroleum (NYSE:MPC)

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