Marathon Petroleum (NYSE:MPC) Price Target Lowered to $160.00 at Morgan Stanley

by · The Cerbat Gem

Marathon Petroleum (NYSE:MPC – Free Report) had its target price cut by Morgan Stanley from $175.00 to $160.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

Several other research firms have also issued reports on MPC. Wells Fargo & Company decreased their price target on shares of Marathon Petroleum from $185.00 to $175.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Raymond James lowered their price target on Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, April 9th. Piper Sandler reduced their price objective on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, Scotiabank reduced their target price on Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating for the company in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $174.21.

View Our Latest Analysis on Marathon Petroleum

Marathon Petroleum Trading Up 2.5 %

Marathon Petroleum stock opened at $137.62 on Thursday. The business’s 50-day simple moving average is $139.10 and its 200-day simple moving average is $146.52. Marathon Petroleum has a 52 week low of $115.10 and a 52 week high of $201.36. The firm has a market capitalization of $42.87 billion, a PE ratio of 13.86, a PEG ratio of 3.11 and a beta of 1.04. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23.

Marathon Petroleum (NYSE:MPC – Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.06 by $0.71. The company had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.98 EPS. Equities research analysts forecast that Marathon Petroleum will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th were given a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.64 annualized dividend and a yield of 2.64%. Marathon Petroleum’s payout ratio is 36.66%.

Insiders Place Their Bets

In other news, Director Evan Bayh purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average price of $133.70 per share, with a total value of $133,700.00. Following the completion of the purchase, the director now directly owns 69,305 shares of the company’s stock, valued at $9,266,078.50. The trade was a 1.46 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ricky D. Hessling bought 2,000 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were acquired at an average price of $134.72 per share, for a total transaction of $269,440.00. Following the completion of the transaction, the insider now owns 12,162 shares in the company, valued at approximately $1,638,464.64. This trade represents a 19.68 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On Marathon Petroleum

Hedge funds have recently added to or reduced their stakes in the stock. OLD Second National Bank of Aurora increased its position in shares of Marathon Petroleum by 7.2% in the 4th quarter. OLD Second National Bank of Aurora now owns 994 shares of the oil and gas company’s stock valued at $139,000 after buying an additional 67 shares in the last quarter. Nixon Peabody Trust Co. raised its position in shares of Marathon Petroleum by 3.4% during the fourth quarter. Nixon Peabody Trust Co. now owns 2,068 shares of the oil and gas company’s stock worth $288,000 after purchasing an additional 68 shares during the period. Lake Street Advisors Group LLC lifted its holdings in shares of Marathon Petroleum by 1.6% during the 4th quarter. Lake Street Advisors Group LLC now owns 4,271 shares of the oil and gas company’s stock valued at $596,000 after purchasing an additional 69 shares in the last quarter. DT Investment Partners LLC grew its position in shares of Marathon Petroleum by 21.5% in the 4th quarter. DT Investment Partners LLC now owns 395 shares of the oil and gas company’s stock valued at $55,000 after purchasing an additional 70 shares during the period. Finally, Avior Wealth Management LLC increased its stake in Marathon Petroleum by 3.4% during the 4th quarter. Avior Wealth Management LLC now owns 2,171 shares of the oil and gas company’s stock worth $303,000 after purchasing an additional 71 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

About Marathon Petroleum

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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.

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