Marathon Petroleum (NYSE:MPC) PT Lowered to $171.00 at JPMorgan Chase & Co.

Marathon Petroleum (NYSE:MPC) had its price objective cut by JPMorgan Chase & Co. from $172.00 to $171.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

Other research analysts also recently issued reports about the company. Wolfe Research started coverage on Marathon Petroleum in a research note on Thursday, July 18th. They issued an outperform rating and a $200.00 price objective on the stock. Piper Sandler dropped their price objective on shares of Marathon Petroleum from $168.00 to $145.00 and set a neutral rating on the stock in a report on Friday, September 20th. StockNews.com downgraded shares of Marathon Petroleum from a buy rating to a hold rating in a research note on Friday, June 14th. Wells Fargo & Company dropped their price target on shares of Marathon Petroleum from $196.00 to $183.00 and set an overweight rating for the company in a research report on Wednesday. Finally, Tudor Pickering lowered shares of Marathon Petroleum from a strong-buy rating to a strong sell rating in a report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $195.14.

Marathon Petroleum Trading Up 1.7 %

Shares of NYSE:MPC opened at $162.67 on Wednesday. Marathon Petroleum has a twelve month low of $140.98 and a twelve month high of $221.11. The firm has a market cap of $57.31 billion, a P/E ratio of 8.13, a P/E/G ratio of 2.59 and a beta of 1.37. The company has a 50 day moving average of $169.35 and a 200-day moving average of $177.79. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86.

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 the consensus estimate of $3.09 by $1.03. The business had revenue of $38.36 billion during the quarter, compared to analysts’ expectations of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. Marathon Petroleum’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $5.32 earnings per share. As a group, analysts anticipate that Marathon Petroleum will post 10.56 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were issued a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Institutional Investors Weigh In On Marathon Petroleum

A number of hedge funds and other institutional investors have recently bought and sold shares of MPC. Raymond James & Associates boosted its position in Marathon Petroleum by 2.6% during the 2nd quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company’s stock worth $743,690,000 after buying an additional 107,915 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Marathon Petroleum by 1.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company’s stock worth $620,815,000 after purchasing an additional 31,100 shares during the period. Boston Partners grew its stake in shares of Marathon Petroleum by 0.3% in the first quarter. Boston Partners now owns 2,773,050 shares of the oil and gas company’s stock worth $558,390,000 after purchasing an additional 8,476 shares during the last quarter. Pacer Advisors Inc. raised its position in Marathon Petroleum by 8.5% during the 2nd quarter. Pacer Advisors Inc. now owns 2,669,815 shares of the oil and gas company’s stock worth $463,160,000 after purchasing an additional 209,270 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in Marathon Petroleum by 7.6% during the 1st quarter. Acadian Asset Management LLC now owns 1,663,835 shares of the oil and gas company’s stock worth $335,241,000 after buying an additional 117,790 shares during the period. Institutional investors 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.