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 investment analysts at Goldman Sachs Group Inc. in a research note issued to investors on Wednesday. They currently have a $54.00 price target on the stock. Goldman Sachs Group Inc.’s price target would suggest a potential upside of 28.69% from the company’s previous close.
Other equities research analysts also recently issued research reports about the company. Wells Fargo & Co. reiterated a “buy” rating on shares of Marathon Petroleum Corp. in a report on Saturday, July 9th. Vetr downgraded Marathon Petroleum Corp. from a “strong-buy” rating to a “buy” rating and set a $42.00 price target for the company. in a report on Tuesday, July 12th. Credit Suisse Group AG reiterated a “buy” rating and set a $45.00 price target on shares of Marathon Petroleum Corp. in a report on Thursday, July 14th. Zacks Investment Research downgraded Marathon Petroleum Corp. from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 13th. Finally, Scotiabank downgraded Marathon Petroleum Corp. from an “outperform” rating to a “sector perform” rating and set a $42.00 price target for the company. in a report on Monday, July 11th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $53.37.
Shares of Marathon Petroleum Corp. (NYSE:MPC) traded down 1.24% during midday trading on Wednesday, reaching $41.44. 538,521 shares of the company’s stock traded hands. Marathon Petroleum Corp. has a 52-week low of $29.24 and a 52-week high of $59.99. The stock has a 50 day moving average of $42.29 and a 200-day moving average of $38.76. The stock has a market cap of $21.91 billion, a price-to-earnings ratio of 11.43 and a beta of 2.06.
Marathon Petroleum Corp. (NYSE:MPC) last issued its earnings results on Thursday, July 28th. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.10. Marathon Petroleum Corp. had a return on equity of 10.94% and a net margin of 3.02%. The company had revenue of $16.81 billion for the quarter, compared to analyst estimates of $16.30 billion. During the same period in the prior year, the firm earned $1.51 earnings per share. Marathon Petroleum Corp.’s revenue for the quarter was down 18.4% on a year-over-year basis. On average, equities research analysts expect that Marathon Petroleum Corp. will post $2.41 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Wednesday, August 17th were issued a dividend of $0.36 per share. This is a boost from Marathon Petroleum Corp.’s previous quarterly dividend of $0.32. The ex-dividend date was Monday, August 15th. This represents a $1.44 dividend on an annualized basis and a yield of 3.43%. Marathon Petroleum Corp.’s dividend payout ratio is 39.78%.
A number of hedge funds have recently modified their holdings of the company. 1832 Asset Management L.P. boosted its stake in shares of 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 stake in Marathon Petroleum Corp. during the first quarter valued at $108,000. AlphaMark Advisors LLC boosted its stake in Marathon Petroleum Corp. by 98.7% in the second quarter. AlphaMark Advisors LLC now owns 3,020 shares of the company’s stock valued at $115,000 after buying an additional 1,500 shares during the last quarter. Amica Retiree Medical Trust acquired a new stake in Marathon Petroleum Corp. during the second quarter valued at $117,000. Finally, Invictus RG boosted its stake in Marathon Petroleum Corp. by 35.7% in the first quarter. Invictus RG now owns 3,176 shares of the company’s stock valued at $118,000 after buying an additional 835 shares during the last quarter. 79.85% of the stock is currently owned by institutional investors and hedge funds.
About Marathon Petroleum Corp.
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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