Barclays Cuts Marathon Petroleum (NYSE:MPC) Price Target to $168.00

Marathon Petroleum (NYSE:MPC) had its price target cut by Barclays from $180.00 to $168.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

A number of other research analysts also recently weighed in on MPC. JPMorgan Chase & Co. reduced their target price on Marathon Petroleum from $172.00 to $171.00 and set a neutral rating on the stock in a report on Wednesday, October 9th. Tudor, Pickering, Holt & Co. downgraded Marathon Petroleum from a buy rating to a sell rating in a research note on Monday, September 9th. Wolfe Research initiated coverage on Marathon Petroleum in a research note on Thursday, July 18th. They issued an outperform rating and a $200.00 price target on the stock. Scotiabank cut their target price on Marathon Petroleum from $207.00 to $191.00 and set a sector outperform rating on the stock in a research note on Friday, July 12th. Finally, Mizuho lowered their price target on Marathon Petroleum from $198.00 to $193.00 and set a neutral rating on the stock in a report on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $190.73.

Marathon Petroleum Trading Down 0.4 %

NYSE MPC opened at $164.26 on Thursday. Marathon Petroleum has a 1-year low of $140.98 and a 1-year 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 stock has a 50-day moving average of $168.89 and a 200-day moving average of $177.06. The firm has a market cap of $57.87 billion, a PE ratio of 8.20, a price-to-earnings-growth ratio of 2.65 and a beta of 1.37.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. The business had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. Marathon Petroleum’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.32 EPS. As a group, sell-side analysts forecast that Marathon Petroleum will post 10.22 EPS for the current year.

Marathon Petroleum Announces Dividend

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

Institutional Trading of Marathon Petroleum

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