Marathon Petroleum (NYSE:MPC) PT Lowered to $170.00 at Scotiabank

Marathon Petroleum (NYSE:MPC) had its price objective lowered by Scotiabank from $191.00 to $170.00 in a report issued on Thursday morning, Benzinga reports. Scotiabank currently has a sector outperform rating on the oil and gas company’s stock.

A number of other brokerages have also issued reports on MPC. Piper Sandler decreased their target price on shares of Marathon Petroleum from $168.00 to $145.00 and set a neutral rating on the stock in a research report on Friday, September 20th. Morgan Stanley decreased their target price on Marathon Petroleum from $196.00 to $182.00 and set an overweight rating for the company in a report on Monday, September 16th. TD Cowen boosted their price objective on shares of Marathon Petroleum from $187.00 to $190.00 and gave the stock a buy rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. reduced their target price on shares of Marathon Petroleum from $172.00 to $171.00 and set a neutral rating on the stock in a report on Wednesday. Finally, Barclays cut their price objective on Marathon Petroleum from $180.00 to $168.00 and set an overweight rating on the stock in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Marathon Petroleum presently has an average rating of Moderate Buy and a consensus target price of $190.73.

Marathon Petroleum Trading Down 0.4 %

Shares of MPC opened at $164.26 on Thursday. The firm’s 50-day moving average is $168.89 and its two-hundred day moving average is $177.20. Marathon Petroleum has a twelve month low of $140.98 and a twelve month high of $221.11. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $57.87 billion, a P/E ratio of 8.20, a PEG ratio of 2.65 and a beta of 1.37.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, topping the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The business had revenue of $38.36 billion for the quarter, compared to analyst estimates of $36.66 billion. During the same period in the previous year, the firm earned $5.32 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, research analysts predict that Marathon Petroleum will post 10.22 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were issued a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 2.01%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio is currently 16.48%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MPC. Raymond James & Associates raised its position in shares of Marathon Petroleum by 2.6% during the 2nd quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company’s stock valued at $743,690,000 after acquiring an additional 107,915 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Marathon Petroleum by 1.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company’s stock valued at $620,815,000 after buying an additional 31,100 shares during the period. Boston Partners grew its position in shares of Marathon Petroleum by 0.3% during the 1st quarter. Boston Partners now owns 2,773,050 shares of the oil and gas company’s stock valued at $558,390,000 after buying an additional 8,476 shares during the last quarter. Pacer Advisors Inc. raised its stake in Marathon Petroleum by 8.5% during the second quarter. Pacer Advisors Inc. now owns 2,669,815 shares of the oil and gas company’s stock worth $463,160,000 after acquiring an additional 209,270 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in Marathon Petroleum by 7.6% in the first quarter. Acadian Asset Management LLC now owns 1,663,835 shares of the oil and gas company’s stock worth $335,241,000 after acquiring an additional 117,790 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

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.