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

Marathon Petroleum (NYSE:MPC - Free Report) had its price objective lowered by Mizuho from $175.00 to $174.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a neutral rating on the oil and gas company's stock.

Several other brokerages have also issued reports on MPC. Wells Fargo & Company increased their price target on shares of Marathon Petroleum from $183.00 to $186.00 and gave the stock an "overweight" rating in a research note on Monday, December 9th. Citigroup cut their price target on Marathon Petroleum from $172.00 to $167.00 and set a "neutral" rating on the stock in a research note on Thursday, October 10th. Piper Sandler lowered their price objective on Marathon Petroleum from $168.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, September 20th. Tudor Pickering downgraded Marathon Petroleum from a "strong-buy" rating to a "strong sell" rating in a report on Monday, September 9th. Finally, Barclays reduced their price target on shares of Marathon Petroleum from $168.00 to $159.00 and set an "overweight" rating for the company in a research report on Monday, November 11th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Marathon Petroleum presently has an average rating of "Moderate Buy" and an average target price of $184.00.

Marathon Petroleum Trading Down 5.0 %

Shares of Marathon Petroleum stock traded down $7.34 during trading on Monday, reaching $138.22. 3,517,872 shares of the stock were exchanged, compared to its average volume of 2,619,229. The stock's fifty day moving average is $155.10 and its 200 day moving average is $164.91. The firm has a market cap of $44.42 billion, a price-to-earnings ratio of 11.24, a price-to-earnings-growth ratio of 2.67 and a beta of 1.39. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. Marathon Petroleum has a 1 year low of $137.89 and a 1 year high of $221.11.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.90. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The business had revenue of $35.37 billion for the quarter, compared to analysts' expectations of $34.34 billion. During the same quarter in the previous year, the business posted $8.14 earnings per share. The firm's revenue for the quarter was down 14.9% compared to the same quarter last year. As a group, equities research analysts expect that Marathon Petroleum will post 9.5 earnings per share for the current fiscal year.

Marathon Petroleum declared that its board has approved a share repurchase plan on Tuesday, November 5th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to buy up to 10% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.

Marathon Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th were given a dividend of $0.91 per share. This is an increase from Marathon Petroleum's previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.63%. Marathon Petroleum's dividend payout ratio is presently 28.84%.

Insider Activity

In other news, Director Jeffrey C. Campbell purchased 6,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were acquired at an average cost of $149.61 per share, for a total transaction of $897,660.00. Following the acquisition, the director now owns 6,090 shares of the company's stock, valued at approximately $911,124.90. This represents a 6,666.67 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.21% of the company's stock.

Hedge Funds Weigh In On Marathon Petroleum

Several hedge funds and other institutional investors have recently modified their holdings of MPC. Gladius Capital Management LP purchased a new position in shares of Marathon Petroleum during the 3rd quarter valued at about $26,000. MeadowBrook Investment Advisors LLC raised its position in Marathon Petroleum by 88.9% during the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company's stock valued at $28,000 after acquiring an additional 80 shares in the last quarter. True Wealth Design LLC lifted its holdings in Marathon Petroleum by 672.7% in the third quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company's stock valued at $28,000 after acquiring an additional 148 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in Marathon Petroleum in the 3rd quarter worth approximately $30,000. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Marathon Petroleum during the 3rd quarter worth approximately $33,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

About Marathon Petroleum

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.