Marathon Petroleum (NYSE:MPC) Price Target Raised to $72.00 at Cowen

Marathon Petroleum (NYSE:MPC) had its price objective raised by Cowen from $69.00 to $72.00 in a research report released on Thursday morning, Briefing.com Automated Import reports. The brokerage currently has a market perform rating on the oil and gas company’s stock.

MPC has been the topic of several other research reports. ValuEngine raised Marathon Petroleum from a sell rating to a hold rating in a research report on Tuesday, December 3rd. Zacks Investment Research raised Marathon Petroleum from a hold rating to a buy rating and set a $63.00 target price on the stock in a research report on Monday, December 16th. Morgan Stanley boosted their target price on Marathon Petroleum from $70.00 to $80.00 and gave the company an overweight rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. downgraded Marathon Petroleum from an overweight rating to a neutral rating and set a $67.00 target price on the stock. in a research report on Monday, December 9th. Finally, Citigroup cut their target price on Marathon Petroleum from $71.00 to $67.00 and set a buy rating on the stock in a research report on Friday, January 17th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Marathon Petroleum has an average rating of Buy and an average target price of $73.73.

Shares of MPC traded down $1.17 during mid-day trading on Thursday, hitting $58.33. 6,811,480 shares of the stock were exchanged, compared to its average volume of 6,305,363. The company has a market cap of $38.71 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 0.83 and a beta of 1.72. Marathon Petroleum has a 52-week low of $43.96 and a 52-week high of $69.65. The firm has a 50-day moving average of $57.11 and a two-hundred day moving average of $57.80. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.62 and a current ratio of 1.25.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Wednesday, January 29th. The oil and gas company reported $1.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.71. The business had revenue of $31.38 billion for the quarter, compared to analysts’ expectations of $30.07 billion. Marathon Petroleum had a return on equity of 7.42% and a net margin of 2.11%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.41 EPS. On average, sell-side analysts predict that Marathon Petroleum will post 6.75 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 19th will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $2.32 annualized dividend and a dividend yield of 3.98%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.53. Marathon Petroleum’s payout ratio is currently 42.91%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MPC. Blueshift Asset Management LLC grew its position in Marathon Petroleum by 266.1% in the 4th quarter. Blueshift Asset Management LLC now owns 99,231 shares of the oil and gas company’s stock valued at $5,979,000 after acquiring an additional 72,123 shares during the last quarter. First Republic Investment Management Inc. grew its position in Marathon Petroleum by 4.1% in the 4th quarter. First Republic Investment Management Inc. now owns 249,020 shares of the oil and gas company’s stock valued at $15,003,000 after acquiring an additional 9,764 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new position in Marathon Petroleum in the 4th quarter valued at $3,850,000. Visionary Wealth Advisors bought a new position in Marathon Petroleum in the 4th quarter valued at $406,000. Finally, Knights of Columbus Asset Advisors LLC grew its position in Marathon Petroleum by 474.7% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 56,300 shares of the oil and gas company’s stock valued at $3,392,000 after acquiring an additional 46,503 shares during the last quarter. 76.04% of the stock is currently owned by hedge funds and other institutional investors.

About Marathon Petroleum

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.

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Analyst Recommendations for Marathon Petroleum (NYSE:MPC)

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