Marathon Petroleum (NYSE:MPC) Price Target Raised to $75.00 at Raymond James

Marathon Petroleum (NYSE:MPC) had its target price lifted by Raymond James from $72.00 to $75.00 in a research note published on Friday morning, BenzingaRatingsTable reports. Raymond James currently has a strong-buy rating on the oil and gas company’s stock.

Other analysts have also issued reports about the company. Morgan Stanley lowered their price objective on Marathon Petroleum from $82.00 to $75.00 and set an overweight rating for the company in a research report on Friday, May 17th. Wells Fargo & Co lowered their price objective on Marathon Petroleum from $96.00 to $90.00 and set an outperform rating for the company in a research report on Thursday, May 9th. Cowen lowered Marathon Petroleum from an outperform rating to a market perform rating and lowered their price objective for the stock from $90.00 to $65.00 in a research report on Friday, May 10th. Credit Suisse Group lowered their price objective on Marathon Petroleum from $95.00 to $80.00 and set an outperform rating for the company in a research report on Monday, May 13th. Finally, Royal Bank of Canada lowered their price objective on Marathon Petroleum from $71.00 to $70.00 and set an outperform rating for the company in a research report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $82.62.

MPC stock traded down $1.74 during midday trading on Friday, reaching $53.62. The stock had a trading volume of 5,093,602 shares, compared to its average volume of 4,239,887. The business’s fifty day moving average price is $54.18. The company has a current ratio of 1.20, a quick ratio of 0.55 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $37.37 billion, a price-to-earnings ratio of 7.91, a price-to-earnings-growth ratio of 1.56 and a beta of 1.68. Marathon Petroleum has a twelve month low of $45.47 and a twelve month high of $88.45.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $1.73 EPS for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.40. The firm had revenue of $33.70 billion during the quarter, compared to analyst estimates of $33.26 billion. Marathon Petroleum had a return on equity of 11.10% and a net margin of 2.56%. The company’s revenue was up 50.1% on a year-over-year basis. During the same period last year, the company earned $2.27 earnings per share. Equities analysts anticipate that Marathon Petroleum will post 4.23 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $2.12 annualized dividend and a dividend yield of 3.95%. Marathon Petroleum’s payout ratio is currently 31.27%.

In related news, Director James E. Rohr bought 12,500 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was bought at an average cost of $48.14 per share, for a total transaction of $601,750.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Donald C. Templin bought 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were bought at an average price of $50.74 per share, with a total value of $253,700.00. Following the completion of the transaction, the insider now directly owns 93,182 shares in the company, valued at approximately $4,728,054.68. The disclosure for this purchase can be found here. 1.06% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of MPC. Alpha Omega Wealth Management LLC grew its position in shares of Marathon Petroleum by 135.1% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 435 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 250 shares during the period. Wealthcare Advisory Partners LLC grew its position in shares of Marathon Petroleum by 345.6% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 508 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 394 shares during the period. Bay Harbor Wealth Management LLC acquired a new position in shares of Marathon Petroleum in the 1st quarter valued at approximately $31,000. AllSquare Wealth Management LLC acquired a new position in shares of Marathon Petroleum in the 1st quarter valued at approximately $32,000. Finally, Tarbox Family Office Inc. grew its position in shares of Marathon Petroleum by 51.5% in the 2nd quarter. Tarbox Family Office Inc. now owns 568 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 193 shares during the period. Institutional investors own 77.45% of the company’s stock.

Marathon Petroleum Company Profile

Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.

Further Reading: Cost of Goods Sold (COGS)

Analyst Recommendations for Marathon Petroleum (NYSE:MPC)

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