Marathon Petroleum Corp. (MPC) PT Set at $59.00 by Bank of America Corp.
Marathon Petroleum Corp. (NYSE:MPC) received a $59.00 price target from stock analysts at Bank of America Corp. in a note issued to investors on Monday. The firm presently has a “buy” rating on the stock. Bank of America Corp.’s target price would indicate a potential upside of 28.32% from the company’s previous close.
A number of other brokerages have also commented on MPC. Piper Jaffray Cos. increased their price target on shares of Marathon Petroleum Corp. from $35.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, August 22nd. Vetr lowered shares of Marathon Petroleum Corp. from a “strong-buy” rating to a “buy” rating and set a $46.33 price target on the stock. in a report on Monday, August 8th. Jefferies Group began coverage on shares of Marathon Petroleum Corp. in a report on Tuesday, August 23rd. They issued a “buy” rating and a $48.00 price target on the stock. Zacks Investment Research raised shares of Marathon Petroleum Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, August 16th. Finally, Raymond James Financial Inc. raised shares of Marathon Petroleum Corp. from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $47.00 to $54.00 in a report on Monday, October 31st. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company. Marathon Petroleum Corp. has an average rating of “Buy” and a consensus price target of $52.30.
Marathon Petroleum Corp. (NYSE:MPC) opened at 45.98 on Monday. The firm has a market cap of $24.27 billion, a price-to-earnings ratio of 21.65 and a beta of 1.80. Marathon Petroleum Corp. has a 12-month low of $29.24 and a 12-month high of $59.99. The company has a 50-day moving average of $43.48 and a 200 day moving average of $40.10.
Marathon Petroleum Corp. (NYSE:MPC) last posted its earnings results on Thursday, October 27th. The company reported $0.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.81 by $0.23. The firm had revenue of $16.46 billion for the quarter, compared to the consensus estimate of $17.18 billion. Marathon Petroleum Corp. had a return on equity of 6.74% and a net margin of 1.84%. The business’s revenue was down 11.2% on a year-over-year basis. During the same period last year, the company posted $1.76 EPS. Equities analysts expect that Marathon Petroleum Corp. will post $2.05 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Wednesday, November 16th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Monday, November 14th. Marathon Petroleum Corp.’s payout ratio is currently 67.61%.
A number of institutional investors have recently added to or reduced their stakes in MPC. Marathon Capital Management increased its position in Marathon Petroleum Corp. by 0.3% in the third quarter. Marathon Capital Management now owns 6,321 shares of the company’s stock worth $257,000 after buying an additional 18 shares during the last quarter. First National Trust Co. increased its position in shares of Marathon Petroleum Corp. by 0.3% in the third quarter. First National Trust Co. now owns 8,326 shares of the company’s stock worth $338,000 after buying an additional 28 shares in the last quarter. Kanaly Trust Co increased its position in shares of Marathon Petroleum Corp. by 0.5% in the third quarter. Kanaly Trust Co now owns 6,510 shares of the company’s stock worth $264,000 after buying an additional 32 shares in the last quarter. Alpha Windward LLC increased its position in shares of Marathon Petroleum Corp. by 0.9% in the third quarter. Alpha Windward LLC now owns 4,237 shares of the company’s stock worth $172,000 after buying an additional 37 shares in the last quarter. Finally, Altfest L J & Co. Inc. increased its position in shares of Marathon Petroleum Corp. by 0.6% in the third quarter. Altfest L J & Co. Inc. now owns 6,696 shares of the company’s stock worth $272,000 after buying an additional 37 shares in the last quarter. 77.68% of the stock is owned by institutional investors.
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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