Marathon Petroleum (NYSE:MPC) Price Target Raised to $472.00 at The Goldman Sachs Group

Marathon Petroleum (NYSE:MPC) had its price target raised by The Goldman Sachs Group from $376.00 to $472.00 in a research note issued to investors on Monday morning, Marketbeat Ratings reports. The firm currently has a buy rating on the oil and gas company’s stock.

A number of other analysts have also weighed in on the stock. Piper Sandler raised their price target on shares of Marathon Petroleum from $344.00 to $462.00 and gave the company an “overweight” rating in a report on Thursday, September 3rd. Weiss Ratings raised shares of Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Wells Fargo & Company raised their price target on Marathon Petroleum from $359.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 1st. Mizuho increased their target price on Marathon Petroleum from $284.00 to $304.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Finally, Morgan Stanley raised their target price on Marathon Petroleum from $265.00 to $453.00 and gave the stock an “overweight” rating in a report on Monday, September 14th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus target price of $360.00.

Marathon Petroleum Stock Performance

Marathon Petroleum stock opened at $401.99 on Monday. The stock has a 50-day simple moving average of $351.38 and a 200 day simple moving average of $282.80. The stock has a market capitalization of $117.36 billion, a price-to-earnings ratio of 13.82, a P/E/G ratio of 0.13 and a beta of 0.53. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. Marathon Petroleum has a 12-month low of $161.93 and a 12-month high of $431.08.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, topping analysts’ consensus estimates of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The firm had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. During the same quarter in the prior year, the firm earned $3.96 EPS. The company’s revenue was up 53.5% on a year-over-year basis. On average, research analysts anticipate that Marathon Petroleum will post 59.15 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were paid a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a yield of 1.0%. Marathon Petroleum’s dividend payout ratio is presently 13.75%.

Insiders Place Their Bets

In other Marathon Petroleum news, VP Erin M. Brzezinski sold 570 shares of Marathon Petroleum stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $362.79, for a total value of $206,790.30. Following the sale, the vice president owned 1,576 shares of the company’s stock, valued at $571,757.04. This trade represents a 26.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Shawn Lyon sold 2,500 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $350.00, for a total value of $875,000.00. Following the transaction, the senior vice president owned 12,619 shares of the company’s stock, valued at approximately $4,416,650. The trade was a 16.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 21,691 shares of company stock worth $7,780,127. Corporate insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Bullseye Investment Management LLC acquired a new stake in Marathon Petroleum in the 2nd quarter valued at $502,000. Capstone Financial Advisors Inc. boosted its stake in shares of Marathon Petroleum by 1.8% during the 2nd quarter. Capstone Financial Advisors Inc. now owns 1,938 shares of the oil and gas company’s stock worth $495,000 after buying an additional 34 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Marathon Petroleum by 7.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 22,789 shares of the oil and gas company’s stock valued at $5,826,000 after acquiring an additional 1,586 shares in the last quarter. National Pension Service grew its holdings in shares of Marathon Petroleum by 0.6% in the 2nd quarter. National Pension Service now owns 928,506 shares of the oil and gas company’s stock valued at $237,391,000 after acquiring an additional 5,626 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in shares of Marathon Petroleum in the second quarter valued at about $9,224,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE:MPC) is an integrated downstream energy company engaged primarily in refining, marketing and transporting petroleum products. The company converts crude oil and other feedstocks into gasoline, diesel and other transportation fuels, as well as asphalt, propane, petrochemical feedstocks and related products.

Marathon Petroleum operates a network of refineries in the United States and markets refined products through wholesale channels, branded retail locations and commercial customers.