Marathon Petroleum Corp Rating Reiterated by Zacks (MPC)
Marathon Petroleum Corp (NYSE:MPC)‘s stock had its “neutral” rating reaffirmed by Zacks in a report released on Monday. They currently have a $95.00 target price on the stock. Zacks‘s target price suggests a potential upside of 5.05% from the stock’s previous close.
Zacks’ analyst wrote, “We are maintaining our Neutral recommendation on Marathon Petroleum shares. We like Marathon for its scale advantage, impressive asset quality and extensive midstream/retail network. We believe management’s steady dividend increases, ongoing share repurchase program, and recent acquisition of BP’s Texas City refinery could further boost shareholder value. Finally, MPC’s decision to buy Hess’ retail biz will expand its fuel trading operations. However, we think the current valuation is fair and adequately reflects the company’s future growth prospects. Moreover, Marathon’s core business – refining – is faced with a high degree of volatility, while being capital intensive. This is expected to limit its ability to generate positive earnings surprises. As a result, our long-term total return expectation for Marathon remains muted. “
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse upgraded shares of Marathon Petroleum Corp from a “neutral” rating to an “outperform” rating in a research note on Friday, August 1st. They now have a $110.00 price target on the stock, up previously from $105.00. Separately, analysts at Wolfe Research upgraded shares of Marathon Petroleum Corp from a “market perform” rating to an “outperform” rating in a research note on Monday, July 28th. Finally, analysts at Macquarie reiterated an “outperform” rating on shares of Marathon Petroleum Corp in a research note on Friday, July 11th. They now have a $100.00 price target on the stock, down previously from $116.00. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Marathon Petroleum Corp presently has a consensus rating of “Buy” and an average target price of $96.64.
Marathon Petroleum Corp (NYSE:MPC) traded up 0.32% on Monday, hitting $90.72. The stock had a trading volume of 791,473 shares. Marathon Petroleum Corp has a 52 week low of $61.32 and a 52 week high of $97.70. The stock has a 50-day moving average of $82.61 and a 200-day moving average of $86.69. The company has a market cap of $25.703 billion and a price-to-earnings ratio of 14.69.
Marathon Petroleum Corp (NYSE:MPC) last released its earnings data on Thursday, July 31st. The company reported $2.95 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.15 by $0.80. The company had revenue of $26.93 billion for the quarter, compared to the consensus estimate of $22.87 billion. During the same quarter in the previous year, the company posted $1.95 earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. Analysts expect that Marathon Petroleum Corp will post $7.40 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Investors of record on Wednesday, August 20th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Monday, August 18th. This is an increase from Marathon Petroleum Corp’s previous quarterly dividend of $0.42.
Marathon Petroleum Corporation (NYSE:MPC) is engaged in refining, transporting and marketing petroleum products in the United States.
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