Marathon Petroleum Corp. (MPC) Stock Rating Reaffirmed by Goldman Sachs Group Inc.
Marathon Petroleum Corp. (NYSE:MPC)‘s stock had its “buy” rating restated by equities research analysts at Goldman Sachs Group Inc. in a research report issued on Wednesday. They currently have a $54.00 price target on the stock. Goldman Sachs Group Inc.’s price objective would indicate a potential upside of 28.69% from the company’s current price.
A number of other equities analysts have also issued reports on the company. Bank of America Corp. restated a “buy” rating on shares of Marathon Petroleum Corp. in a research note on Monday, September 26th. Piper Jaffray Cos. increased their price target on Marathon Petroleum Corp. from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, September 16th. Vetr raised Marathon Petroleum Corp. from a “buy” rating to a “strong-buy” rating and set a $51.50 price target on the stock in a research report on Monday, September 12th. Credit Suisse Group AG reaffirmed an “outperform” rating on shares of Marathon Petroleum Corp. in a research report on Sunday, September 4th. Finally, Jefferies Group initiated coverage on Marathon Petroleum Corp. in a research report on Tuesday, August 23rd. They set a “buy” rating and a $48.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $53.37.
Marathon Petroleum Corp. (NYSE:MPC) traded down 1.24% during mid-day trading on Wednesday, hitting $41.44. The company’s stock had a trading volume of 538,521 shares. The company’s 50 day moving average is $42.29 and its 200-day moving average is $38.76. The stock has a market cap of $21.91 billion, a P/E ratio of 11.43 and a beta of 2.06. Marathon Petroleum Corp. has a 52-week low of $29.24 and a 52-week high of $59.99.
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Marathon Petroleum Corp. (NYSE:MPC) last issued its earnings results on Thursday, July 28th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.10. The company earned $16.81 billion during the quarter, compared to analyst estimates of $16.30 billion. Marathon Petroleum Corp. had a return on equity of 10.94% and a net margin of 3.02%. The firm’s quarterly revenue was down 18.4% on a year-over-year basis. During the same quarter last year, the business posted $1.51 EPS. On average, equities analysts predict that Marathon Petroleum Corp. will post $2.41 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Wednesday, August 17th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 3.43%. This is a positive change from Marathon Petroleum Corp.’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Monday, August 15th. Marathon Petroleum Corp.’s dividend payout ratio (DPR) is 39.78%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 1832 Asset Management L.P. raised its position in Marathon Petroleum Corp. by 3,222.6% in the second quarter. 1832 Asset Management L.P. now owns 2,791 shares of the company’s stock worth $106,000 after buying an additional 2,707 shares during the period. Acrospire Investment Management LLC acquired a new position in Marathon Petroleum Corp. during the first quarter worth $108,000. AlphaMark Advisors LLC raised its position in Marathon Petroleum Corp. by 98.7% in the second quarter. AlphaMark Advisors LLC now owns 3,020 shares of the company’s stock worth $115,000 after buying an additional 1,500 shares during the period. Amica Retiree Medical Trust acquired a new position in Marathon Petroleum Corp. during the second quarter worth $117,000. Finally, Gierl Augustine Investment Management Inc raised its position in Marathon Petroleum Corp. by 35.2% in the second quarter. Gierl Augustine Investment Management Inc now owns 3,124 shares of the company’s stock worth $119,000 after buying an additional 814 shares during the period. 79.85% of the stock is currently owned by institutional investors and hedge funds.
Marathon Petroleum Corp. Company Profile
Marathon Petroleum Corporation is engaged in petroleum product refining, marketing, retail and transportation businesses in the United States and the east of the Mississippi. The Company’s segments include Refining & Marketing, Speedway, and Midstream. Its Refining & Marketing segment refines crude oil and other feedstocks at its approximately seven refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products.
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