Marathon Petroleum (NYSE:MPC) Price Target Cut to $186.00 by Analysts at JPMorgan Chase & Co.

Marathon Petroleum (NYSE:MPC) had its price objective cut by JPMorgan Chase & Co. from $191.00 to $186.00 in a research report released on Tuesday, Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

Other research analysts have also issued research reports about the company. Scotiabank boosted their price objective on Marathon Petroleum from $175.00 to $207.00 and gave the stock a sector outperform rating in a report on Thursday, April 11th. Tudor Pickering raised Marathon Petroleum to a strong-buy rating in a research note on Thursday, May 30th. The Goldman Sachs Group upped their target price on Marathon Petroleum from $175.00 to $211.00 and gave the stock a buy rating in a research note on Friday, March 22nd. Bank of America upped their target price on Marathon Petroleum from $185.00 to $230.00 and gave the stock a neutral rating in a research note on Friday, March 15th. Finally, StockNews.com lowered Marathon Petroleum from a buy rating to a hold rating in a research note on Friday, June 14th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $191.31.

Marathon Petroleum Stock Down 0.3 %

MPC stock opened at $174.22 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.43 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $61.38 billion, a PE ratio of 8.68, a PEG ratio of 1.62 and a beta of 1.40. Marathon Petroleum has a twelve month low of $112.82 and a twelve month high of $221.11. The stock has a 50-day simple moving average of $178.24 and a two-hundred day simple moving average of $176.13.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.25. The business had revenue of $32.71 billion during the quarter, compared to analyst estimates of $32.07 billion. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.09 EPS. On average, equities analysts predict that Marathon Petroleum will post 17.85 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were issued a dividend of $0.825 per share. The ex-dividend date was Wednesday, May 15th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.89%. Marathon Petroleum’s dividend payout ratio is presently 16.48%.

Marathon Petroleum declared that its Board of Directors has approved a share repurchase plan on Tuesday, April 30th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the oil and gas company to buy up to 7.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Marathon Petroleum

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Marathon Petroleum in the fourth quarter worth $25,000. FinTrust Capital Advisors LLC grew its stake in shares of Marathon Petroleum by 400.0% in the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 100 shares during the last quarter. Crewe Advisors LLC purchased a new stake in shares of Marathon Petroleum in the first quarter worth $29,000. ICA Group Wealth Management LLC purchased a new stake in shares of Marathon Petroleum in the fourth quarter worth $30,000. Finally, Vima LLC purchased a new stake in shares of Marathon Petroleum in the fourth quarter worth $30,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Company Profile

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.