TD Cowen Forecasts Strong Price Appreciation for Marathon Petroleum (NYSE:MPC) Stock

Marathon Petroleum (NYSE:MPC) had its price objective boosted by TD Cowen from $152.00 to $163.00 in a report published on Tuesday morning, MarketBeat Ratings reports. The firm currently has a buy rating on the oil and gas company’s stock.

Other equities research analysts have also recently issued research reports about the company. Wells Fargo & Company raised their target price on Marathon Petroleum from $175.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 13th. Raymond James cut their target price on Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating for the company in a research note on Wednesday, April 9th. Morgan Stanley cut their target price on Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Barclays raised their target price on Marathon Petroleum from $141.00 to $159.00 and gave the stock an “overweight” rating in a research note on Monday, May 12th. Finally, Piper Sandler cut their target price on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus target price of $176.07.

Marathon Petroleum Price Performance

MPC stock opened at $162.67 on Tuesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The business has a 50 day simple moving average of $144.79 and a 200-day simple moving average of $146.19. The firm has a market capitalization of $49.98 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 3.11 and a beta of 0.89. Marathon Petroleum has a 1 year low of $115.10 and a 1 year high of $183.31.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.16. The company had revenue of $31.85 billion during the quarter, compared to analysts’ expectations of $28.91 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.58 earnings per share. Equities research analysts anticipate that Marathon Petroleum will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were given a dividend of $0.91 per share. The ex-dividend date was Wednesday, May 21st. This represents a $3.64 annualized dividend and a dividend yield of 2.24%. Marathon Petroleum’s dividend payout ratio is currently 51.20%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. First Hawaiian Bank boosted its holdings in Marathon Petroleum by 2.1% in the first quarter. First Hawaiian Bank now owns 13,357 shares of the oil and gas company’s stock valued at $1,946,000 after purchasing an additional 278 shares during the period. Modern Wealth Management LLC boosted its holdings in Marathon Petroleum by 11.7% in the first quarter. Modern Wealth Management LLC now owns 2,494 shares of the oil and gas company’s stock valued at $363,000 after purchasing an additional 262 shares during the period. Jones Financial Companies Lllp boosted its holdings in Marathon Petroleum by 21.0% in the first quarter. Jones Financial Companies Lllp now owns 293,314 shares of the oil and gas company’s stock valued at $42,353,000 after purchasing an additional 50,972 shares during the period. Strs Ohio purchased a new position in Marathon Petroleum in the first quarter valued at $10,471,000. Finally, Turn8 Private Wealth Inc. boosted its holdings in Marathon Petroleum by 7.1% in the first quarter. Turn8 Private Wealth Inc. now owns 21,730 shares of the oil and gas company’s stock valued at $3,166,000 after purchasing an additional 1,444 shares during the period. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Company Profile

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.