Marathon Petroleum (NYSE:MPC) Price Target Raised to $457.00

Marathon Petroleum (NYSE:MPC) had its target price hoisted by Mizuho from $304.00 to $457.00 in a report issued on Thursday morning, Marketbeat Ratings reports. Mizuho currently has a neutral rating on the oil and gas company’s stock.

MPC has been the subject of several other reports. Jefferies Financial Group reissued a “hold” rating and issued a $413.00 price objective on shares of Marathon Petroleum in a research report on Monday, September 21st. Bank of America upped their target price on Marathon Petroleum from $410.00 to $426.00 and gave the company a “neutral” rating in a research report on Friday, October 2nd. Evercore set a $330.00 target price on Marathon Petroleum in a research note on Wednesday, August 5th. Citigroup reiterated a “neutral” rating on shares of Marathon Petroleum in a report on Friday, October 2nd. Finally, The Goldman Sachs Group boosted their price target on Marathon Petroleum from $376.00 to $472.00 and gave the company a “buy” rating in a research note on Monday, September 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $383.69.

Marathon Petroleum Trading Down 2.1%

NYSE:MPC opened at $453.84 on Thursday. Marathon Petroleum has a 52 week low of $161.93 and a 52 week high of $470.00. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25. The firm’s fifty day moving average is $380.41 and its 200-day moving average is $300.85. The firm has a market cap of $132.49 billion, a P/E ratio of 15.60, a P/E/G ratio of 0.14 and a beta of 0.54.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, topping analysts’ consensus estimates of $14.27 by $3.46. The business had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. Marathon Petroleum’s quarterly revenue was up 53.5% on a year-over-year basis. During the same quarter last year, the firm earned $3.96 earnings per share. Equities analysts expect that Marathon Petroleum will post 61.46 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, August 19th. Marathon Petroleum’s payout ratio is presently 13.75%.

Insider Buying and Selling

In related news, VP Erin M. Brzezinski sold 570 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total transaction of $206,790.30. Following the transaction, the vice president directly owned 1,576 shares of the company’s stock, valued at approximately $571,757.04. This represents a 26.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Molly Benson sold 17,196 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $358.57, for a total value of $6,165,969.72. Following the completion of the transaction, the insider owned 30,334 shares in the company, valued at approximately $10,876,862.38. The trade was a 36.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 21,691 shares of company stock valued at $7,780,127. 0.17% of the stock is owned by company insiders.

Hedge Funds Weigh In On Marathon Petroleum

Large investors have recently modified their holdings of the company. Dupree Financial Group LLC purchased a new position in shares of Marathon Petroleum in the 3rd quarter worth about $225,000. Armstrong Advisory Group Inc. lifted its position in Marathon Petroleum by 44.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 267 shares of the oil and gas company’s stock worth $106,000 after buying an additional 82 shares during the last quarter. GK Wealth Management LLC bought a new stake in Marathon Petroleum in the 3rd quarter worth approximately $281,000. Riversedge Advisors LLC boosted its stake in Marathon Petroleum by 11.5% in the third quarter. Riversedge Advisors LLC now owns 1,050 shares of the oil and gas company’s stock worth $415,000 after buying an additional 108 shares in the last quarter. Finally, Wedmont Private Capital boosted its stake in Marathon Petroleum by 16.2% in the third quarter. Wedmont Private Capital now owns 8,147 shares of the oil and gas company’s stock worth $3,221,000 after buying an additional 1,133 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE:MPC) is an integrated downstream energy company engaged primarily in refining, marketing and transporting petroleum products. The company converts crude oil and other feedstocks into gasoline, diesel, jet fuel, asphalt, propane and other refined products used by consumers, businesses and industrial customers.

Marathon Petroleum operates refineries and related logistics assets in the United States, with a refining and marketing presence serving markets across the Midwest, Gulf Coast and West Coast.