Marathon Petroleum Corporation (NYSE:MPC) Stock Has Consensus Target Price of $360.00 According to Brokerages

Shares of Marathon Petroleum Corporation (NYSE:MPC) have earned a consensus rating of “Moderate Buy” from the sixteen research firms that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $360.00.

A number of equities analysts have weighed in on MPC shares. UBS Group upped their price target on Marathon Petroleum from $321.00 to $450.00 and gave the stock a “buy” rating in a research report on Tuesday, September 8th. Citigroup increased their target price on shares of Marathon Petroleum from $303.00 to $318.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Barclays raised their target price on shares of Marathon Petroleum from $289.00 to $321.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. The Goldman Sachs Group boosted their price target on shares of Marathon Petroleum from $376.00 to $472.00 and gave the stock a “buy” rating in a research report on Monday, September 21st. Finally, Mizuho increased their price objective on shares of Marathon Petroleum from $284.00 to $304.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $388.69 on Tuesday. The firm has a market cap of $113.47 billion, a price-to-earnings ratio of 13.36, a price-to-earnings-growth ratio of 0.12 and a beta of 0.53. The stock’s 50-day moving average is $359.64 and its 200-day moving average is $288.85. Marathon Petroleum has a one year low of $161.93 and a one year high of $431.08. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The business had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. During the same period last year, the company earned $3.96 earnings per share. Marathon Petroleum’s quarterly revenue was up 53.5% on a year-over-year basis. Equities analysts predict that Marathon Petroleum will post 59.15 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $4.00 annualized dividend and a yield of 1.0%. Marathon Petroleum’s dividend payout ratio is 13.75%.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, SVP Shawn Lyon sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total transaction of $875,000.00. Following the transaction, the senior vice president owned 12,619 shares of the company’s stock, valued at $4,416,650. The trade was a 16.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Erin M. Brzezinski sold 570 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total value of $206,790.30. Following the sale, the vice president owned 1,576 shares in the company, valued at approximately $571,757.04. This represents a 26.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 21,691 shares of company stock worth $7,780,127 over the last ninety days. 0.17% of the stock is currently owned by corporate insiders.

Institutional Trading of Marathon Petroleum

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Marathon Petroleum during the 2nd quarter worth approximately $6,648,958,000. Bank of New York Mellon Corp bought a new stake in shares of Marathon Petroleum in the second quarter valued at approximately $1,029,611,000. Bank of America Corp DE boosted its stake in shares of Marathon Petroleum by 1.6% in the first quarter. Bank of America Corp DE now owns 2,595,084 shares of the oil and gas company’s stock valued at $633,668,000 after buying an additional 40,124 shares during the period. Amundi grew its position in Marathon Petroleum by 17.5% during the second quarter. Amundi now owns 2,237,930 shares of the oil and gas company’s stock worth $572,172,000 after buying an additional 332,551 shares in the last quarter. Finally, Norges Bank bought a new position in Marathon Petroleum during the 4th quarter worth $472,312,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

About Marathon Petroleum

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.