Marathon Petroleum (NYSE:MPC) Price Target Lowered to $201.00 at Mizuho

Marathon Petroleum (NYSE:MPCFree Report) had its price objective cut by Mizuho from $203.00 to $201.00 in a report issued on Thursday morning, Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

MPC has been the topic of several other research reports. Scotiabank upped their price objective on Marathon Petroleum from $175.00 to $207.00 and gave the stock a sector outperform rating in a research report on Thursday, April 11th. StockNews.com lowered Marathon Petroleum from a buy rating to a hold rating in a research report on Friday, June 14th. Piper Sandler lowered their price objective on Marathon Petroleum from $190.00 to $168.00 and set a neutral rating on the stock in a research report on Friday, June 14th. Wells Fargo & Company reduced their target price on Marathon Petroleum from $227.00 to $223.00 and set an overweight rating for the company in a research note on Thursday, June 6th. Finally, Raymond James reduced their target price on Marathon Petroleum from $235.00 to $230.00 and set a strong-buy rating for the company in a research note on Thursday, May 30th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $192.08.

Get Our Latest Stock Analysis on Marathon Petroleum

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $172.67 on Thursday. The business’s 50 day moving average price is $181.41 and its 200 day moving average price is $174.90. The firm has a market cap of $60.84 billion, a P/E ratio of 8.62, a P/E/G ratio of 1.55 and a beta of 1.45. Marathon Petroleum has a 52 week low of $108.88 and a 52 week high of $221.11. The company has a quick ratio of 0.99, a current ratio of 1.43 and a debt-to-equity ratio of 0.85.

Marathon Petroleum (NYSE:MPCGet Free Report) last issued its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.25. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The firm had revenue of $32.71 billion for the quarter, compared to analyst estimates of $32.07 billion. During the same quarter in the prior year, the firm earned $6.09 earnings per share. Marathon Petroleum’s revenue for the quarter was down 6.2% on a year-over-year basis. On average, sell-side analysts expect that Marathon Petroleum will post 18.65 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were issued a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.91%. The ex-dividend date was Wednesday, May 15th. Marathon Petroleum’s payout ratio is currently 16.48%.

Marathon Petroleum announced that its Board of Directors has initiated a stock buyback plan on Tuesday, April 30th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Marathon Petroleum

Large investors have recently added to or reduced their stakes in the stock. FinTrust Capital Advisors LLC grew its holdings in Marathon Petroleum by 400.0% in the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 100 shares in the last quarter. Crewe Advisors LLC purchased a new stake in Marathon Petroleum in the 1st quarter valued at $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Marathon Petroleum in the 4th quarter valued at $25,000. ICA Group Wealth Management LLC purchased a new stake in Marathon Petroleum in the 4th quarter valued at $30,000. Finally, Wellington Shields & Co. LLC purchased a new position in shares of Marathon Petroleum during the 1st quarter worth $40,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

About Marathon Petroleum

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Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. 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 and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.

Further Reading

Analyst Recommendations for Marathon Petroleum (NYSE:MPC)

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