Marathon Petroleum Corp (NYSE:MPC)‘s stock had its “neutral” rating restated by Zacks in a research note issued on Friday. They currently have a $92.00 target price on the stock. Zacks‘s price target points to a potential upside of 4.66% from the company’s current price.
Zacks’ analyst wrote, “We are maintaining our Neutral recommendation on Marathon Petroleum shares. We like Marathon for its scale advantage, impressive asset quality and extensive midstream/retail network. We believe management’s steady dividend increases, ongoing share repurchase program and recent acquisition of BP’s Texas City refinery could further boost shareholder value. Finally, MPC’s decision to buy Hess’ retail biz will expand its fuel trading operations. However, we think the current valuation is fair and adequately reflects the company’s future growth prospects. Moreover, Marathon’s core business – refining – is faced with a high degree of volatility, while being capital intensive. This is expected to limit its ability to generate positive earnings surprises. As a result, our long-term total return expectation for Marathon remains muted. “
Marathon Petroleum Corp (NYSE:MPC) traded down 0.08% during mid-day trading on Friday, hitting $87.83. The stock had a trading volume of 1,104,324 shares. Marathon Petroleum Corp has a 52 week low of $61.32 and a 52 week high of $97.70. The stock’s 50-day moving average is $90. and its 200-day moving average is $87.70. The company has a market cap of $25.351 billion and a P/E ratio of 17.11.
Marathon Petroleum Corp (NYSE:MPC) last announced its earnings results on Thursday, May 1st. The company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by $0.38. The company had revenue of $23.35 billion for the quarter, compared to the consensus estimate of $23.26 billion. During the same quarter in the previous year, the company posted $2.17 earnings per share. The company’s revenue for the quarter was up .0% on a year-over-year basis. On average, analysts predict that Marathon Petroleum Corp will post $8.73 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Monday, May 19th.
Several other analysts have also recently commented on the stock. Analysts at Macquarie raised their price target on shares of Marathon Petroleum Corp from $111.00 to $116.00 in a research note on Friday, May 2nd. Separately, analysts at Bank of America reiterated a “neutral” rating on shares of Marathon Petroleum Corp in a research note on Friday, May 2nd. They now have a $100.00 price target on the stock, up previously from $95.00. Finally, analysts at Cowen and Company raised their price target on shares of Marathon Petroleum Corp from $100.00 to $120.00 in a research note on Thursday, May 1st. They now have an “outperform” rating on the stock. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Marathon Petroleum Corp has an average rating of “Buy” and an average target price of $93.09.
Marathon Petroleum Corporation (NYSE:MPC) is engaged in refining, transporting and marketing petroleum products in the United States.
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