JPMorgan Chase & Co. Lowers Marathon Petroleum (NYSE:MPC) Price Target to $172.00

by · The Cerbat Gem

Marathon Petroleum (NYSE:MPC – Free Report) had its price target cut by JPMorgan Chase & Co. from $186.00 to $172.00 in a report issued on Wednesday, Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

Several other equities research analysts have also recently issued reports on MPC. Piper Sandler reduced their target price on Marathon Petroleum from $168.00 to $145.00 and set a neutral rating on the stock in a report on Friday, September 20th. Tudor, Pickering, Holt & Co. downgraded Marathon Petroleum from a buy rating to a sell rating in a research note on Monday, September 9th. Jefferies Financial Group increased their target price on Marathon Petroleum from $222.00 to $231.00 and gave the company a buy rating in a research report on Monday, July 15th. Barclays reduced their price target on shares of Marathon Petroleum from $195.00 to $185.00 and set an overweight rating on the stock in a research report on Monday, July 1st. Finally, StockNews.com lowered shares of Marathon Petroleum from a buy rating to a hold rating in a research report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Marathon Petroleum has a consensus rating of Moderate Buy and an average price target of $196.14.

Check Out Our Latest Analysis on MPC

Marathon Petroleum Trading Down 1.6 %

Shares of MPC opened at $171.98 on Wednesday. The firm has a market cap of $60.59 billion, a P/E ratio of 8.59, a price-to-earnings-growth ratio of 2.59 and a beta of 1.37. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90. Marathon Petroleum has a 1 year low of $139.93 and a 1 year high of $221.11. The company has a 50 day simple moving average of $169.69 and a two-hundred day simple moving average of $178.39.

Marathon Petroleum (NYSE:MPC – Get Free Report) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, beating the consensus estimate of $3.09 by $1.03. The company had revenue of $38.36 billion during the quarter, compared to analysts’ expectations of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. Marathon Petroleum’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the company posted $5.32 earnings per share. On average, equities analysts expect that Marathon Petroleum will post 10.56 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio (DPR) is currently 16.48%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. FinTrust Capital Advisors LLC boosted its stake in shares of Marathon Petroleum by 400.0% during the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 100 shares during the period. Crewe Advisors LLC bought a new stake in Marathon Petroleum during the 1st quarter valued at about $29,000. Vima LLC bought a new stake in Marathon Petroleum during the 4th quarter valued at about $30,000. TruNorth Capital Management LLC purchased a new stake in Marathon Petroleum in the 2nd quarter valued at about $35,000. Finally, Industrial Alliance Investment Management Inc. bought a new position in Marathon Petroleum in the 2nd quarter worth about $35,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Company Profile

(Get Free Report)

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.

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