Piper Sandler Boosts Marathon Petroleum (NYSE:MPC) Price Target to $175.00

Marathon Petroleum (NYSE:MPC - Free Report) had its price objective upped by Piper Sandler from $157.00 to $175.00 in a research report sent to investors on Thursday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the oil and gas company's stock.

MPC has been the topic of several other reports. Wall Street Zen upgraded shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Mizuho increased their price objective on shares of Marathon Petroleum from $168.00 to $184.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Evercore ISI started coverage on shares of Marathon Petroleum in a research note on Wednesday, June 18th. They issued an "in-line" rating and a $170.00 price objective for the company. Barclays increased their target price on Marathon Petroleum from $141.00 to $159.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. Finally, TD Cowen boosted their price target on Marathon Petroleum from $152.00 to $163.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Marathon Petroleum has a consensus rating of "Moderate Buy" and a consensus target price of $184.38.

Marathon Petroleum Trading Down 1.3%

MPC stock traded down $2.45 during trading on Thursday, hitting $179.81. The company had a trading volume of 1,542,139 shares, compared to its average volume of 2,711,840. Marathon Petroleum has a 52-week low of $115.10 and a 52-week high of $183.49. The company has a 50 day simple moving average of $162.98 and a 200-day simple moving average of $149.59. The firm has a market capitalization of $55.24 billion, a P/E ratio of 25.29, a PEG ratio of 3.52 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 released its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.16. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. The company had revenue of $31.85 billion for the quarter, compared to the consensus estimate of $28.91 billion. During the same period last year, the business posted $2.58 EPS. Marathon Petroleum's quarterly revenue was down 4.1% on a year-over-year basis. As a group, research analysts forecast that Marathon Petroleum will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Wednesday, May 21st. Marathon Petroleum's 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 firm's stock in a transaction on 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 owned 18,944 shares of the company's stock, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.21% of the company's stock.

Hedge Funds Weigh In On Marathon Petroleum

Several hedge funds have recently made changes to their positions in MPC. Baker Tilly Wealth Management LLC increased its holdings in shares of Marathon Petroleum by 2.8% in the second quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company's stock valued at $370,000 after purchasing an additional 60 shares during the period. Sunpointe LLC increased its holdings in Marathon Petroleum by 4.1% in the 2nd quarter. Sunpointe LLC now owns 1,750 shares of the oil and gas company's stock worth $291,000 after buying an additional 69 shares during the period. Buckley Wealth Management LLC increased its holdings in Marathon Petroleum by 0.5% in the 4th quarter. Buckley Wealth Management LLC now owns 14,325 shares of the oil and gas company's stock worth $1,998,000 after buying an additional 75 shares during the period. Beverly Hills Private Wealth LLC lifted its stake in Marathon Petroleum by 1.2% during the 4th quarter. Beverly Hills Private Wealth LLC now owns 6,655 shares of the oil and gas company's stock valued at $928,000 after acquiring an additional 76 shares during the period. Finally, Intact Investment Management Inc. boosted its holdings in shares of Marathon Petroleum by 19.0% in the 4th quarter. Intact Investment Management Inc. now owns 500 shares of the oil and gas company's stock valued at $70,000 after acquiring an additional 80 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

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.