Marathon Petroleum (NYSE:MPC) Price Target Cut to $195.00 by Analysts at Barclays

Marathon Petroleum (NYSE:MPC) had its target price trimmed by Barclays from $221.00 to $195.00 in a research note published on Monday, Benzinga reports. The brokerage currently has an overweight rating on the oil and gas company’s stock.

Other research analysts have also recently issued research reports about the stock. Wells Fargo & Company upped their target price on shares of Marathon Petroleum from $214.00 to $227.00 and gave the company an overweight rating in a research report on Thursday, April 4th. StockNews.com upgraded shares of Marathon Petroleum from a buy rating to a strong-buy rating in a report on Wednesday, May 1st. Mizuho dropped their target price on shares of Marathon Petroleum from $202.00 to $200.00 and set a neutral rating for the company in a report on Thursday, May 2nd. TD Cowen upped their price target on Marathon Petroleum from $168.00 to $170.00 and gave the stock an outperform rating in a research note on Wednesday, January 31st. Finally, The Goldman Sachs Group raised their price target on Marathon Petroleum from $175.00 to $211.00 and gave the stock a buy rating in a research report on Friday, March 22nd. Five analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Marathon Petroleum currently has an average rating of Moderate Buy and a consensus target price of $191.62.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $183.80 on Monday. The company’s 50-day moving average is $194.38 and its two-hundred day moving average is $168.51. Marathon Petroleum has a 1-year low of $104.32 and a 1-year high of $221.11. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 0.99. The firm has a market capitalization of $64.76 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 1.52 and a beta of 1.55.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.25. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The company had revenue of $32.71 billion during the quarter, compared to analyst estimates of $32.07 billion. During the same period in the prior year, the business posted $6.09 earnings per share. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. Analysts forecast that Marathon Petroleum will post 19.96 EPS for the current year.

Marathon Petroleum declared that its board has approved a stock repurchase program on Tuesday, April 30th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas company to reacquire up to 7.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be issued a $0.825 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $3.30 annualized dividend and a yield of 1.80%. Marathon Petroleum’s dividend payout ratio (DPR) is 16.48%.

Insider Activity

In related news, Director Kim K.W. Rucker sold 1,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $170.35, for a total value of $170,350.00. Following the transaction, the director now owns 23,446 shares of the company’s stock, valued at $3,994,026.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Marathon Petroleum

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mackenzie Financial Corp grew its position in shares of Marathon Petroleum by 121.7% during the third quarter. Mackenzie Financial Corp now owns 161,214 shares of the oil and gas company’s stock worth $23,742,000 after acquiring an additional 88,493 shares during the last quarter. Brighton Jones LLC raised its stake in shares of Marathon Petroleum by 4.2% during the third quarter. Brighton Jones LLC now owns 4,782 shares of the oil and gas company’s stock worth $724,000 after purchasing an additional 193 shares during the last quarter. IFM Investors Pty Ltd lifted its holdings in shares of Marathon Petroleum by 2.2% during the third quarter. IFM Investors Pty Ltd now owns 86,723 shares of the oil and gas company’s stock worth $13,125,000 after purchasing an additional 1,889 shares during the period. Ruedi Wealth Management Inc. acquired a new position in Marathon Petroleum in the 3rd quarter valued at $266,000. Finally, Chicago Partners Investment Group LLC raised its position in Marathon Petroleum by 2.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 15,178 shares of the oil and gas company’s stock worth $2,268,000 after buying an additional 339 shares during the last quarter. 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.