Marathon Petroleum (MPC) Receives Buy Rating from Wells Fargo & Co
Several other brokerages have also commented on MPC. Zacks Investment Research raised Marathon Petroleum from a hold rating to a buy rating and set a $94.00 price objective on the stock in a report on Monday. Mizuho began coverage on Marathon Petroleum in a report on Wednesday, August 1st. They issued a buy rating and a $95.00 price objective on the stock. Tudor Pickering lowered Marathon Petroleum from a buy rating to a hold rating in a report on Friday, May 18th. JPMorgan Chase & Co. raised their price objective on Marathon Petroleum from $98.00 to $102.00 and gave the company an overweight rating in a report on Friday, July 27th. Finally, Royal Bank of Canada reissued a buy rating and issued a $87.00 price objective on shares of Marathon Petroleum in a report on Friday, July 27th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Marathon Petroleum has an average rating of Buy and an average target price of $85.94.
Shares of MPC stock opened at $83.12 on Monday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.60 and a quick ratio of 1.04. The company has a market cap of $37.74 billion, a P/E ratio of 21.97, a P/E/G ratio of 1.38 and a beta of 1.40. Marathon Petroleum has a twelve month low of $50.52 and a twelve month high of $84.79.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Thursday, August 16th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Wednesday, August 15th. Marathon Petroleum’s dividend payout ratio is presently 48.42%.
Several large investors have recently modified their holdings of MPC. Advisors Preferred LLC acquired a new stake in shares of Marathon Petroleum in the first quarter worth approximately $101,000. Bruderman Asset Management LLC acquired a new stake in shares of Marathon Petroleum in the first quarter worth approximately $102,000. Bedel Financial Consulting Inc. acquired a new stake in shares of Marathon Petroleum in the first quarter worth approximately $106,000. Legacy Financial Advisors Inc. acquired a new stake in shares of Marathon Petroleum in the second quarter worth approximately $113,000. Finally, Northwest Wealth Management LLC acquired a new stake in shares of Marathon Petroleum in the second quarter worth approximately $116,000. 82.75% of the stock is currently owned by hedge funds and other institutional investors.
Marathon Petroleum Company Profile
Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.
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