Marathon Petroleum (NYSE:MPC) Given New $184.00 Price Target at Mizuho

Marathon Petroleum (NYSE:MPC) had its price target raised by Mizuho from $168.00 to $184.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the oil and gas company’s stock.

Several other research firms also recently commented on MPC. Raymond James dropped their price objective on shares of Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 9th. Wells Fargo & Company dropped their price objective on shares of Marathon Petroleum from $185.00 to $175.00 and set an “overweight” rating for the company in a report on Friday, April 11th. Barclays increased their price objective on shares of Marathon Petroleum from $141.00 to $159.00 and gave the company an “overweight” rating in a report on Monday. Morgan Stanley dropped their price objective on shares of Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Finally, Tudor Pickering raised shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and an average price target of $175.29.

Marathon Petroleum Trading Up 3.0%

Shares of Marathon Petroleum stock opened at $162.86 on Tuesday. The company has a market capitalization of $50.03 billion, a P/E ratio of 16.40, a P/E/G ratio of 3.11 and a beta of 0.87. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The company has a fifty day moving average of $138.07 and a 200 day moving average of $145.21. Marathon Petroleum has a fifty-two week low of $115.10 and a fifty-two week high of $183.31.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.16. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The business had revenue of $31.85 billion during the quarter, compared to the consensus estimate of $28.91 billion. During the same quarter in the prior year, the firm earned $2.58 EPS. The business’s revenue was down 4.1% on a year-over-year basis. On average, sell-side analysts anticipate that Marathon Petroleum will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Wednesday, May 21st. Marathon Petroleum’s payout ratio is currently 51.20%.

Insiders Place Their Bets

In other Marathon Petroleum news, insider Ricky D. Hessling acquired 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average cost of $134.72 per share, with a total value of $269,440.00. Following the completion of the acquisition, the insider now directly owns 12,162 shares in the company, valued at $1,638,464.64. This represents a 19.68% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Evan Bayh purchased 1,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was purchased at an average cost of $133.70 per share, for a total transaction of $133,700.00. Following the completion of the acquisition, the director now directly owns 69,305 shares of the company’s stock, valued at approximately $9,266,078.50. The trade was a 1.46% increase in their position. The disclosure for this purchase can be found here. 0.21% of the stock is owned by insiders.

Hedge Funds Weigh In On Marathon Petroleum

Institutional investors and hedge funds have recently bought and sold shares of the company. OLD Second National Bank of Aurora lifted its stake in shares of Marathon Petroleum by 7.2% during the fourth quarter. OLD Second National Bank of Aurora now owns 994 shares of the oil and gas company’s stock worth $139,000 after buying an additional 67 shares during the period. Nixon Peabody Trust Co. lifted its stake in shares of Marathon Petroleum by 3.4% during the fourth quarter. Nixon Peabody Trust Co. now owns 2,068 shares of the oil and gas company’s stock worth $288,000 after buying an additional 68 shares during the period. Lake Street Advisors Group LLC lifted its stake in shares of Marathon Petroleum by 1.6% during the fourth quarter. Lake Street Advisors Group LLC now owns 4,271 shares of the oil and gas company’s stock worth $596,000 after buying an additional 69 shares during the period. DT Investment Partners LLC lifted its stake in shares of Marathon Petroleum by 21.5% during the fourth quarter. DT Investment Partners LLC now owns 395 shares of the oil and gas company’s stock worth $55,000 after buying an additional 70 shares during the period. Finally, Avior Wealth Management LLC lifted its stake in shares of Marathon Petroleum by 3.4% during the fourth quarter. Avior Wealth Management LLC now owns 2,171 shares of the oil and gas company’s stock worth $303,000 after buying an additional 71 shares during the period. 76.77% of the stock is owned by hedge funds and other institutional investors.

About Marathon Petroleum

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.