Morgan Stanley Cuts Marathon Petroleum (MPC) Price Target to $95.00

Marathon Petroleum (NYSE:MPC) had its price objective trimmed by Morgan Stanley from $110.00 to $95.00 in a research report released on Tuesday morning. The firm currently has a buy rating on the oil and gas company’s stock.

Other analysts also recently issued reports about the company. Royal Bank of Canada restated a buy rating and issued a $87.00 price objective on shares of Marathon Petroleum in a research report on Friday, July 27th. Tudor Pickering upgraded Marathon Petroleum from a hold rating to a buy rating in a research report on Thursday, October 11th. Zacks Investment Research upgraded Marathon Petroleum from a hold rating to a buy rating and set a $94.00 price objective on the stock in a research report on Tuesday, October 9th. Citigroup upped their price objective on Marathon Petroleum from $95.00 to $100.00 and gave the company a buy rating in a research report on Friday, September 7th. Finally, Wells Fargo & Co restated a buy rating on shares of Marathon Petroleum in a research report on Monday, August 27th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $91.44.

Shares of NYSE:MPC opened at $61.73 on Tuesday. The company has a current ratio of 1.65, a quick ratio of 1.09 and a debt-to-equity ratio of 0.97. Marathon Petroleum has a 52-week low of $60.64 and a 52-week high of $88.45. The firm has a market capitalization of $44.03 billion, a PE ratio of 16.24, a P/E/G ratio of 0.88 and a beta of 1.50.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Thursday, November 1st. The oil and gas company reported $1.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.02. Marathon Petroleum had a return on equity of 12.28% and a net margin of 4.48%. The business had revenue of $23.13 billion for the quarter, compared to the consensus estimate of $23.20 billion. During the same period in the prior year, the business earned $1.77 earnings per share. The business’s revenue was up 19.3% on a year-over-year basis. On average, equities analysts anticipate that Marathon Petroleum will post 5.06 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Wednesday, November 21st will be given a dividend of $0.46 per share. The ex-dividend date is Tuesday, November 20th. This represents a $1.84 annualized dividend and a yield of 2.98%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 48.42%.

In other Marathon Petroleum news, Director Steven A. Davis bought 2,500 shares of Marathon Petroleum stock in a transaction that occurred on Monday, November 19th. The shares were purchased at an average cost of $62.20 per share, for a total transaction of $155,500.00. Following the completion of the transaction, the director now owns 16,462 shares of the company’s stock, valued at approximately $1,023,936.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.09% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MPC. PointState Capital LP purchased a new position in Marathon Petroleum during the second quarter worth about $378,482,000. BlackRock Inc. lifted its position in Marathon Petroleum by 9.8% during the third quarter. BlackRock Inc. now owns 39,961,377 shares of the oil and gas company’s stock worth $3,195,712,000 after buying an additional 3,550,450 shares during the period. Bank of New York Mellon Corp lifted its position in Marathon Petroleum by 44.1% during the second quarter. Bank of New York Mellon Corp now owns 7,506,332 shares of the oil and gas company’s stock worth $526,645,000 after buying an additional 2,297,774 shares during the period. Morgan Stanley lifted its position in Marathon Petroleum by 59.5% during the second quarter. Morgan Stanley now owns 5,798,607 shares of the oil and gas company’s stock worth $406,829,000 after buying an additional 2,162,851 shares during the period. Finally, FIL Ltd lifted its position in Marathon Petroleum by 274.4% during the third quarter. FIL Ltd now owns 2,851,049 shares of the oil and gas company’s stock worth $227,998,000 after buying an additional 2,089,558 shares during the period. Hedge funds and other institutional investors own 83.16% of the company’s stock.

About Marathon Petroleum

Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.

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Analyst Recommendations for Marathon Petroleum (NYSE:MPC)

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