JPMorgan Chase & Co. Cuts Marathon Petroleum (NYSE:MPC) Price Target to $171.00

Marathon Petroleum (NYSE:MPC - Free Report) had its target price lowered by JPMorgan Chase & Co. from $172.00 to $171.00 in a report published on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the oil and gas company's stock.

Other research analysts have also issued reports about the company. Wolfe Research began coverage on Marathon Petroleum in a research report on Thursday, July 18th. They set an outperform rating and a $200.00 target price on the stock. Tudor Pickering lowered Marathon Petroleum from a strong-buy rating to a strong sell rating in a research note on Monday, September 9th. Mizuho dropped their price target on Marathon Petroleum from $198.00 to $193.00 and set a neutral rating on the stock in a research note on Monday, September 16th. Morgan Stanley dropped their target price on Marathon Petroleum from $196.00 to $182.00 and set an overweight rating on the stock in a research report on Monday, September 16th. Finally, TD Cowen increased their price target on shares of Marathon Petroleum from $187.00 to $190.00 and gave the stock a buy rating in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $195.14.

Marathon Petroleum Trading Up 1.7 %

MPC stock traded up $2.68 during midday trading on Wednesday, reaching $162.67. The company's stock had a trading volume of 2,243,271 shares, compared to its average volume of 2,703,013. The stock has a fifty day simple moving average of $169.35 and a two-hundred day simple moving average of $177.79. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31. The firm has a market capitalization of $57.31 billion, a price-to-earnings ratio of 8.13, a PEG ratio of 2.59 and a beta of 1.37. Marathon Petroleum has a 1 year low of $140.98 and a 1 year high of $221.11.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, topping the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The firm had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. During the same period in the previous year, the company posted $5.32 EPS. The business's revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities research analysts predict that Marathon Petroleum will post 10.56 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum's dividend payout ratio is presently 16.48%.

Hedge Funds Weigh In On Marathon Petroleum

A number of hedge funds have recently made changes to their positions in MPC. Raymond James & Associates increased its stake in Marathon Petroleum by 2.6% during the second quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company's stock worth $743,690,000 after purchasing an additional 107,915 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Marathon Petroleum by 1.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company's stock worth $620,815,000 after buying an additional 31,100 shares during the period. Boston Partners lifted its holdings in Marathon Petroleum by 0.3% during the 1st quarter. Boston Partners now owns 2,773,050 shares of the oil and gas company's stock worth $558,390,000 after buying an additional 8,476 shares in the last quarter. Pacer Advisors Inc. boosted its position in Marathon Petroleum by 8.5% in the 2nd quarter. Pacer Advisors Inc. now owns 2,669,815 shares of the oil and gas company's stock valued at $463,160,000 after buying an additional 209,270 shares during the period. Finally, Acadian Asset Management LLC grew its stake in shares of Marathon Petroleum by 7.6% in the first quarter. Acadian Asset Management LLC now owns 1,663,835 shares of the oil and gas company's stock worth $335,241,000 after acquiring an additional 117,790 shares in the last quarter. 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.