Citigroup Trims Marathon Petroleum (NYSE:MPC) Target Price to $167.00

Marathon Petroleum (NYSE:MPC - Free Report) had its target price lowered by Citigroup from $172.00 to $167.00 in a research note published on Thursday morning, Benzinga reports. Citigroup currently has a neutral rating on the oil and gas company's stock.

MPC has been the subject of several other reports. BMO Capital Markets decreased their price objective on Marathon Petroleum from $200.00 to $190.00 and set an outperform rating for the company in a research report on Friday, October 4th. Scotiabank dropped their price objective on shares of Marathon Petroleum from $191.00 to $170.00 and set a sector outperform rating on the stock in a report on Thursday. Wolfe Research started coverage on shares of Marathon Petroleum in a research report on Thursday, July 18th. They issued an outperform rating and a $200.00 price objective on the stock. Wells Fargo & Company lowered their target price on Marathon Petroleum from $196.00 to $183.00 and set an overweight rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. reduced their price objective on Marathon Petroleum from $172.00 to $171.00 and set a neutral rating for the company in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have given 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.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $190.73.

Marathon Petroleum Trading Up 1.4 %

Shares of NYSE MPC traded up $2.24 during mid-day trading on Thursday, hitting $164.85. The company's stock had a trading volume of 1,988,964 shares, compared to its average volume of 2,700,662. Marathon Petroleum has a one year low of $140.98 and a one year high of $221.11. The company's fifty day simple moving average is $169.06 and its 200-day simple moving average is $177.68. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90. The stock has a market cap of $58.08 billion, a price-to-earnings ratio of 8.26, a price-to-earnings-growth ratio of 2.59 and a beta of 1.37.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $36.66 billion. During the same quarter last year, the business earned $5.32 earnings per share. The company's revenue was up 4.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Marathon Petroleum will post 10.56 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were paid a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum's dividend payout ratio (DPR) is currently 16.48%.

Hedge Funds Weigh In On Marathon Petroleum

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FinTrust Capital Advisors LLC raised its stake in 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 valued at $25,000 after purchasing an additional 100 shares in the last quarter. Crewe Advisors LLC bought a new stake in shares of Marathon Petroleum during the 1st quarter worth approximately $29,000. Vima LLC acquired a new stake in shares of Marathon Petroleum during the 4th quarter worth approximately $30,000. TruNorth Capital Management LLC acquired a new position in Marathon Petroleum during the second quarter valued at approximately $35,000. Finally, Industrial Alliance Investment Management Inc. bought a new stake in Marathon Petroleum during the second quarter worth $35,000. 76.77% of the stock is owned by institutional investors and hedge funds.

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.