Marathon Petroleum (NYSE:MPC) Given New $182.00 Price Target at Citigroup

Marathon Petroleum (NYSE:MPC - Free Report) had its price target increased by Citigroup from $144.00 to $182.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a neutral rating on the oil and gas company's stock.

Several other analysts have also issued reports on MPC. Morgan Stanley raised their price target on shares of Marathon Petroleum from $160.00 to $182.00 and gave the stock an "overweight" rating in a research report on Wednesday. Wells Fargo & Company raised their price target on shares of Marathon Petroleum from $182.00 to $205.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Raymond James Financial lowered shares of Marathon Petroleum from a "strong-buy" rating to an "outperform" rating and raised their price target for the stock from $180.00 to $200.00 in a research report on Tuesday. TD Cowen raised their price objective on shares of Marathon Petroleum from $152.00 to $163.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Finally, Mizuho raised their price objective on shares of Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $184.53.

Marathon Petroleum Stock Down 1.8%

Shares of MPC traded down $3.22 during mid-day trading on Wednesday, hitting $172.40. 2,585,022 shares of the company's stock were exchanged, compared to its average volume of 2,719,523. The firm has a fifty day moving average of $165.01 and a two-hundred day moving average of $150.56. Marathon Petroleum has a twelve month low of $115.10 and a twelve month high of $183.31. The stock has a market cap of $52.96 billion, a price-to-earnings ratio of 24.25, a P/E/G ratio of 3.40 and a beta of 0.88. The company has a quick ratio of 0.73, a current ratio of 1.19 and a debt-to-equity ratio of 1.16.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The business had revenue of $31.85 billion for the quarter, compared to analyst estimates of $28.91 billion. During the same period last year, the business posted $2.58 EPS. Marathon Petroleum's revenue was down 4.1% compared to the same quarter last year. On average, sell-side analysts forecast that Marathon Petroleum will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Wednesday, May 21st. Marathon Petroleum's dividend payout ratio is currently 51.20%.

Insiders Place Their Bets

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the business's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total value of $1,293,600.00. Following the completion of the transaction, the director directly owned 18,944 shares of the company's stock, valued at approximately $3,315,200. The trade was a 28.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.21% of the company's stock.

Hedge Funds Weigh In On Marathon Petroleum

A number of institutional investors have recently modified their holdings of MPC. Cambridge Financial Group Inc. acquired a new position in shares of Marathon Petroleum in the fourth quarter valued at approximately $5,624,000. Good Steward Wealth Advisors LLC bought a new stake in Marathon Petroleum during the first quarter worth $346,000. New Age Alpha Advisors LLC bought a new stake in Marathon Petroleum during the fourth quarter worth $1,192,000. Silver Oak Securities Incorporated bought a new position in shares of Marathon Petroleum in the first quarter valued at about $339,000. Finally, Financial Partners Group LLC raised its position in shares of Marathon Petroleum by 65.8% in the first quarter. Financial Partners Group LLC now owns 3,937 shares of the oil and gas company's stock valued at $574,000 after purchasing an additional 1,563 shares during the period. 76.77% of the stock is owned by institutional investors.

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.