Barclays Issues Pessimistic Forecast for Marathon Petroleum (NYSE:MPC) Stock Price

Marathon Petroleum (NYSE:MPC - Free Report) had its target price cut by Barclays from $168.00 to $159.00 in a research note published on Monday,Benzinga reports. They currently have an overweight rating on the oil and gas company's stock.

Several other research analysts have also recently weighed in on MPC. Citigroup dropped their price target on shares of Marathon Petroleum from $172.00 to $167.00 and set a "neutral" rating on the stock in a research note on Thursday, October 10th. Wolfe Research started coverage on Marathon Petroleum in a report on Thursday, July 18th. They set an "outperform" rating and a $200.00 price target for the company. Tudor, Pickering, Holt & Co. cut Marathon Petroleum from a "buy" rating to a "sell" rating in a research report on Monday, September 9th. TD Cowen reduced their target price on shares of Marathon Petroleum from $174.00 to $170.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Finally, Jefferies Financial Group lifted their price target on shares of Marathon Petroleum from $222.00 to $231.00 and gave the company a "buy" rating in a report on Monday, July 15th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Marathon Petroleum currently has a consensus rating of "Moderate Buy" and an average price target of $185.07.

Marathon Petroleum Stock Performance

MPC traded up $2.31 during mid-day trading on Monday, reaching $156.06. 1,862,101 shares of the company traded hands, compared to its average volume of 2,663,605. The stock has a market capitalization of $50.16 billion, a P/E ratio of 12.26, a P/E/G ratio of 2.75 and a beta of 1.38. Marathon Petroleum has a 52-week low of $140.98 and a 52-week high of $221.11. The company has a quick ratio of 0.90, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The company's fifty day moving average price is $160.49 and its 200-day moving average price is $169.48.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.90. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The business had revenue of $35.37 billion for the quarter, compared to analysts' expectations of $34.34 billion. During the same period last year, the firm posted $8.14 earnings per share. The business's revenue for the quarter was down 14.9% on a year-over-year basis. On average, sell-side analysts expect that Marathon Petroleum will post 9.41 EPS for the current year.

Marathon Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.33%. This is a boost from Marathon Petroleum's previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, November 20th. Marathon Petroleum's dividend payout ratio is currently 26.15%.

Marathon Petroleum announced that its Board of Directors has authorized a stock buyback program on Tuesday, November 5th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Marathon Petroleum

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Crewe Advisors LLC purchased a new stake in Marathon Petroleum in the 1st quarter worth about $29,000. Gladius Capital Management LP purchased a new stake in shares of Marathon Petroleum in the third quarter worth approximately $26,000. MeadowBrook Investment Advisors LLC lifted its stake in shares of Marathon Petroleum by 88.9% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company's stock worth $28,000 after acquiring an additional 80 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in Marathon Petroleum during the 3rd quarter valued at $30,000. Finally, Wellington Shields & Co. LLC bought a new stake in shares of Marathon Petroleum during the first quarter worth $40,000. Hedge funds and other institutional investors own 76.77% of the company's stock.

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.