Marathon Petroleum Corp (NYSE:MPC)‘s stock had its “buy” rating reaffirmed by Citigroup Inc in a research report issued to clients and investors on Saturday, April 22nd. They presently have a $67.00 target price on the oil and gas company’s stock, down from their prior target price of $68.50. Citigroup Inc’s price target points to a potential upside of 26.94% from the stock’s previous close.
Several other equities research analysts have also recently commented on MPC. Credit Suisse Group AG upped their price target on Marathon Petroleum Corp from $55.00 to $63.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 4th. Jefferies Group LLC cut their price target on Marathon Petroleum Corp from $62.00 to $61.00 and set a “buy” rating for the company in a research note on Monday, January 23rd. Barclays PLC lowered their target price on Marathon Petroleum Corp from $68.00 to $62.00 and set an “overweight” rating on the stock in a report on Thursday, February 2nd. Finally, Scotiabank reissued a “hold” rating and issued a $55.00 target price on shares of Marathon Petroleum Corp in a report on Monday, February 6th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $56.29.
Shares of Marathon Petroleum Corp (NYSE:MPC) traded up 1.62% during mid-day trading on Friday, reaching $52.78. 4,718,943 shares of the company traded hands. Marathon Petroleum Corp has a 52 week low of $32.02 and a 52 week high of $54.59. The firm has a 50-day moving average price of $50.63 and a 200 day moving average price of $49.09. The firm has a market capitalization of $27.38 billion, a price-to-earnings ratio of 23.27 and a beta of 1.74.
Marathon Petroleum Corp (NYSE:MPC) last released its quarterly earnings results on Thursday, April 27th. The oil and gas company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.07. Marathon Petroleum Corp had a return on equity of 5.74% and a net margin of 1.85%. The business had revenue of $16.39 billion during the quarter, compared to analysts’ expectations of $19.03 billion. During the same quarter in the prior year, the business earned $0.07 earnings per share. The company’s quarterly revenue was up 27.8% compared to the same quarter last year. On average, analysts anticipate that Marathon Petroleum Corp will post $3.02 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 12th. Shareholders of record on Wednesday, May 17th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.73%. The ex-dividend date is Monday, May 15th. Marathon Petroleum Corp’s payout ratio is currently 65.16%.
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A number of hedge funds have recently made changes to their positions in the stock. Jacobi Capital Management LLC increased its stake in shares of Marathon Petroleum Corp by 31.0% in the third quarter. Jacobi Capital Management LLC now owns 2,410 shares of the oil and gas company’s stock valued at $100,000 after buying an additional 570 shares during the last quarter. Perennial Advisors LLC purchased a new stake in Marathon Petroleum Corp during the fourth quarter worth approximately $101,000. Guardian Life Insurance Co. of America increased its stake in Marathon Petroleum Corp by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,036 shares of the oil and gas company’s stock worth $103,000 after buying an additional 14 shares in the last quarter. FTB Advisors Inc. increased its stake in Marathon Petroleum Corp by 484.9% in the first quarter. FTB Advisors Inc. now owns 2,047 shares of the oil and gas company’s stock worth $104,000 after buying an additional 1,697 shares in the last quarter. Finally, Rowland & Co. Investment Counsel ADV purchased a new stake in Marathon Petroleum Corp during the third quarter worth approximately $105,000. 78.16% of the stock is currently owned by hedge funds and other institutional investors.
About Marathon Petroleum Corp
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.
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