Analysts Set Marathon Petroleum Corporation (MPC) Price Target at $58.52

Marathon Petroleum Corporation (NYSE:MPC) has earned an average rating of “Buy” from the eighteen analysts that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $58.62.

A number of research firms have recently commented on MPC. BidaskClub upgraded shares of Marathon Petroleum Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 1st. Zacks Investment Research raised shares of Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a research note on Monday. Cowen and Company raised their target price on shares of Marathon Petroleum Corporation from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $54.83 target price (down from $65.00) on shares of Marathon Petroleum Corporation in a research note on Thursday, July 20th. Finally, Scotiabank set a $55.00 price target on shares of Marathon Petroleum Corporation and gave the stock a “hold” rating in a research note on Tuesday, July 11th.

Marathon Petroleum Corporation (NYSE:MPC) opened at 52.21 on Friday. The stock’s 50 day moving average is $54.11 and its 200 day moving average is $51.62. The stock has a market capitalization of $26.43 billion, a PE ratio of 31.13 and a beta of 1.56. Marathon Petroleum Corporation has a 12-month low of $39.29 and a 12-month high of $56.81.

Marathon Petroleum Corporation (NYSE:MPC) last released its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by $0.01. Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. The firm had revenue of $18.35 billion during the quarter, compared to the consensus estimate of $19.98 billion. During the same quarter last year, the business posted $1.07 earnings per share. Marathon Petroleum Corporation’s revenue was up 9.3% compared to the same quarter last year. Analysts forecast that Marathon Petroleum Corporation will post $2.73 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Monday, August 14th. This is a positive change from Marathon Petroleum Corporation’s previous quarterly dividend of $0.36. Marathon Petroleum Corporation’s payout ratio is currently 81.82%.

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In other Marathon Petroleum Corporation news, VP C. Michael Palmer sold 4,000 shares of the business’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $53.25, for a total value of $213,000.00. Following the completion of the transaction, the vice president now owns 61,757 shares of the company’s stock, valued at approximately $3,288,560.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Thomas M. Kelley sold 25,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $54.33, for a total value of $1,358,250.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,568 shares of company stock valued at $1,808,969. 1.05% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the company. Guardian Life Insurance Co. of America raised its position in shares of Marathon Petroleum Corporation 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 during the period. Accurate Investment Solutions Inc. raised its position in shares of Marathon Petroleum Corporation by 0.4% in the second quarter. Accurate Investment Solutions Inc. now owns 3,982 shares of the oil and gas company’s stock worth $208,000 after buying an additional 14 shares during the period. Capital Investment Advisors LLC raised its position in shares of Marathon Petroleum Corporation by 0.3% in the second quarter. Capital Investment Advisors LLC now owns 6,420 shares of the oil and gas company’s stock worth $336,000 after buying an additional 19 shares during the period. Good Life Advisors LLC raised its position in shares of Marathon Petroleum Corporation by 0.5% in the second quarter. Good Life Advisors LLC now owns 6,708 shares of the oil and gas company’s stock worth $363,000 after buying an additional 35 shares during the period. Finally, Tarbox Group Inc. raised its position in shares of Marathon Petroleum Corporation by 1.5% in the first quarter. Tarbox Group Inc. now owns 2,423 shares of the oil and gas company’s stock worth $122,000 after buying an additional 36 shares during the period. 81.58% of the stock is 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.

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