Marathon Petroleum Corporation (MPC) Price Target Raised to $79.00

Marathon Petroleum Corporation (NYSE:MPC) had its price target upped by Cowen and Company from $60.00 to $79.00 in a research note released on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has an outperform rating on the oil and gas company’s stock. The analysts noted that the move was a valuation call.

MPC has been the subject of several other reports. Scotiabank reaffirmed a hold rating and set a $55.00 target price on shares of Marathon Petroleum Corporation in a report on Friday, September 1st. BidaskClub raised Marathon Petroleum Corporation from a sell rating to a hold rating in a research note on Saturday, August 26th. Jefferies Group LLC reissued a buy rating and issued a $64.00 price objective (down from $65.00) on shares of Marathon Petroleum Corporation in a research note on Wednesday, September 6th. Zacks Investment Research raised Marathon Petroleum Corporation from a hold rating to a buy rating and set a $63.00 price objective for the company in a research note on Monday, October 16th. Finally, Royal Bank Of Canada reissued a buy rating and issued a $71.00 price objective on shares of Marathon Petroleum Corporation in a research note on Thursday, August 31st. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Marathon Petroleum Corporation has an average rating of Buy and an average target price of $65.07.

Shares of Marathon Petroleum Corporation (MPC) traded up $0.26 during mid-day trading on Tuesday, reaching $62.27. The company had a trading volume of 3,195,943 shares, compared to its average volume of 4,402,448. Marathon Petroleum Corporation has a fifty-two week low of $42.57 and a fifty-two week high of $63.41. The company has a market capitalization of $30,290.00, a PE ratio of 19.11, a P/E/G ratio of 1.59 and a beta of 1.60. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.52 and a quick ratio of 0.80.

Marathon Petroleum Corporation (NYSE:MPC) last announced its earnings results on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.48 by $0.29. Marathon Petroleum Corporation had a return on equity of 8.52% and a net margin of 2.35%. The business had revenue of $19.36 billion during the quarter, compared to analysts’ expectations of $19.38 billion. During the same quarter last year, the business posted $0.58 earnings per share. The company’s quarterly revenue was up 17.6% on a year-over-year basis. sell-side analysts expect that Marathon Petroleum Corporation will post 3.59 EPS for the current year.

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The business also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Thursday, November 16th will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, November 15th. This represents a $1.60 annualized dividend and a yield of 2.57%. Marathon Petroleum Corporation’s payout ratio is presently 50.00%.

In related news, VP C. Michael Palmer sold 11,450 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $53.02, for a total transaction of $607,079.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Anthony R. Kenney sold 77,578 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $62.35, for a total value of $4,836,988.30. The disclosure for this sale can be found here. Corporate insiders own 1.05% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Marathon Petroleum Corporation by 4.1% during the second quarter. Vanguard Group Inc. now owns 39,255,717 shares of the oil and gas company’s stock worth $2,054,251,000 after purchasing an additional 1,544,114 shares during the last quarter. Iridian Asset Management LLC CT lifted its stake in shares of Marathon Petroleum Corporation by 8.0% in the 2nd quarter. Iridian Asset Management LLC CT now owns 8,327,167 shares of the oil and gas company’s stock valued at $435,761,000 after acquiring an additional 619,548 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Marathon Petroleum Corporation by 0.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,103,034 shares of the oil and gas company’s stock valued at $342,221,000 after acquiring an additional 35,033 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of Marathon Petroleum Corporation by 93.3% in the 2nd quarter. Alliancebernstein L.P. now owns 5,331,521 shares of the oil and gas company’s stock valued at $278,998,000 after acquiring an additional 2,572,727 shares during the last quarter. Finally, AJO LP lifted its stake in shares of Marathon Petroleum Corporation by 9.0% in the 2nd quarter. AJO LP now owns 4,991,921 shares of the oil and gas company’s stock valued at $261,227,000 after acquiring an additional 410,816 shares during the last quarter. 81.02% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Corporation Company Profile

Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.

Analyst Recommendations for Marathon Petroleum Corporation (NYSE:MPC)

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