TD Cowen Boosts Marathon Petroleum (NYSE:MPC) Price Target to $190.00

Marathon Petroleum (NYSE:MPC) had its price target increased by TD Cowen from $187.00 to $190.00 in a research note released on Wednesday morning, Marketbeat reports. The firm currently has a buy rating on the oil and gas company’s stock.

A number of other brokerages have also recently weighed in on MPC. Mizuho decreased their price target on shares of Marathon Petroleum from $203.00 to $201.00 and set a neutral rating for the company in a research note on Thursday, June 20th. StockNews.com lowered Marathon Petroleum from a buy rating to a hold rating in a report on Friday, June 14th. Raymond James reduced their price objective on Marathon Petroleum from $235.00 to $230.00 and set a strong-buy rating for the company in a research note on Thursday, May 30th. Piper Sandler lowered their target price on Marathon Petroleum from $190.00 to $168.00 and set a neutral rating on the stock in a research note on Friday, June 14th. Finally, Barclays cut their price target on Marathon Petroleum from $195.00 to $185.00 and set an overweight rating for the company in a research note on Monday, July 1st. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $198.38.

Marathon Petroleum Stock Up 1.0 %

Shares of NYSE:MPC traded up $1.68 during trading on Wednesday, hitting $175.83. The company’s stock had a trading volume of 2,321,874 shares, compared to its average volume of 2,645,106. Marathon Petroleum has a fifty-two week low of $139.32 and a fifty-two week high of $221.11. The business has a 50 day moving average price of $170.93 and a two-hundred day moving average price of $179.30. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 1.43. The company has a market capitalization of $61.95 billion, a PE ratio of 8.78, a P/E/G ratio of 2.09 and a beta of 1.40.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The firm had revenue of $38.36 billion during the quarter, compared to the consensus estimate of $36.66 billion. During the same quarter in the previous year, the firm posted $5.32 earnings per share. The company’s revenue was up 4.2% compared to the same quarter last year. As a group, research analysts expect that Marathon Petroleum will post 13.84 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be given a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Wednesday, August 21st. Marathon Petroleum’s payout ratio is currently 16.48%.

Marathon Petroleum announced that its Board of Directors has authorized a stock buyback program on Tuesday, April 30th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas company to buy up to 7.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MPC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Marathon Petroleum in the fourth quarter valued at $25,000. FinTrust Capital Advisors LLC raised its position in shares of Marathon Petroleum by 400.0% during the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Crewe Advisors LLC acquired a new position in Marathon Petroleum in the first quarter worth $29,000. ICA Group Wealth Management LLC bought a new stake in Marathon Petroleum during the fourth quarter valued at $30,000. Finally, Vima LLC acquired a new stake in Marathon Petroleum during the fourth quarter worth about $30,000. 76.77% of the stock is owned by institutional investors and hedge funds.

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.