Brokerages Set Marathon Petroleum Co. (NYSE:MPC) Target Price at $185.27

Shares of Marathon Petroleum Co. (NYSE:MPC) have been given an average rating of “Moderate Buy” by the seventeen brokerages that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $185.27.

MPC has been the topic of several research reports. Wells Fargo & Company increased their price target on shares of Marathon Petroleum from $183.00 to $186.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. BMO Capital Markets reduced their target price on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Barclays lowered their price target on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Piper Sandler reduced their price objective on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Finally, Morgan Stanley lowered their target price on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $145.56 on Wednesday. The company has a 50 day moving average price of $155.10 and a 200 day moving average price of $164.91. The firm has a market capitalization of $46.78 billion, a P/E ratio of 11.53, a PEG ratio of 2.67 and a beta of 1.39. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. Marathon Petroleum has a 52 week low of $142.84 and a 52 week high of $221.11.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.90. The firm had revenue of $35.37 billion for the quarter, compared to the consensus estimate of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The firm’s revenue was down 14.9% on a year-over-year basis. During the same period in the prior year, the firm earned $8.14 EPS. Sell-side analysts expect that Marathon Petroleum will post 9.5 EPS for the current year.

Marathon Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were given a dividend of $0.91 per share. The ex-dividend date was Wednesday, November 20th. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 dividend on an annualized basis and a yield of 2.50%. Marathon Petroleum’s dividend payout ratio is currently 28.84%.

Marathon Petroleum announced that its Board of Directors has initiated a stock buyback plan on Tuesday, November 5th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to reacquire up to 10% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Marathon Petroleum

In other news, Director Jeffrey C. Campbell purchased 6,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were purchased at an average cost of $149.61 per share, with a total value of $897,660.00. Following the completion of the purchase, the director now directly owns 6,090 shares of the company’s stock, valued at approximately $911,124.90. The trade was a 6,666.67 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Marathon Petroleum

Several institutional investors and hedge funds have recently added to or reduced their stakes in MPC. Gladius Capital Management LP acquired a new position in Marathon Petroleum during the third quarter worth about $26,000. MeadowBrook Investment Advisors LLC boosted its holdings in shares of Marathon Petroleum by 88.9% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 80 shares during the last quarter. True Wealth Design LLC grew its position in shares of Marathon Petroleum by 672.7% in the third quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 148 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Marathon Petroleum in the third quarter valued at approximately $30,000. Finally, TruNorth Capital Management LLC purchased a new position in Marathon Petroleum during the second quarter worth approximately $35,000. Institutional investors and hedge funds 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.