Marathon Petroleum (NYSE:MPC) Price Target Raised to $243.00
by Renee Jackson · The Cerbat GemMarathon Petroleum (NYSE:MPC – Get Free Report) had its price target increased by analysts at Citigroup from $210.00 to $243.00 in a research note issued on Friday,MarketScreener reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. Citigroup’s price target suggests a potential upside of 9.68% from the stock’s previous close.
Several other analysts have also issued reports on the stock. Weiss Ratings lowered shares of Marathon Petroleum from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, March 19th. Scotiabank upgraded shares of Marathon Petroleum to a “strong-buy” rating in a research note on Friday, March 27th. JPMorgan Chase & Co. boosted their price target on Marathon Petroleum from $184.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday. Wells Fargo & Company raised their price objective on Marathon Petroleum from $213.00 to $217.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 4th. Finally, UBS Group boosted their price objective on Marathon Petroleum from $221.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $232.88.
Check Out Our Latest Research Report on MPC
Marathon Petroleum Price Performance
Shares of NYSE:MPC opened at $221.55 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 1.27. The business has a 50 day moving average price of $217.30 and a 200 day moving average price of $195.81. The company has a market cap of $65.24 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 0.43 and a beta of 0.58. Marathon Petroleum has a twelve month low of $117.74 and a twelve month high of $255.77.
Marathon Petroleum (NYSE:MPC – Get Free Report) last posted its quarterly earnings data on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share for the quarter, beating the consensus estimate of $3.73 by $0.34. Marathon Petroleum had a return on equity of 13.90% and a net margin of 2.99%.The company had revenue of $32.57 billion during the quarter, compared to analysts’ expectations of $30.89 billion. During the same period in the prior year, the business earned $0.77 earnings per share. Marathon Petroleum’s revenue for the quarter was down .1% compared to the same quarter last year. Research analysts predict that Marathon Petroleum will post 8.47 earnings per share for the current year.
Insider Activity
In other news, insider Ricky D. Hessling sold 1,810 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $224.78, for a total value of $406,851.80. Following the sale, the insider owned 10,188 shares in the company, valued at approximately $2,290,058.64. The trade was a 15.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 4,473 shares of company stock worth $1,015,428 over the last three months. 0.17% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Marathon Petroleum
Several institutional investors have recently added to or reduced their stakes in the company. Delos Wealth Advisors LLC bought a new stake in Marathon Petroleum during the second quarter worth about $25,000. Navalign LLC acquired a new stake in Marathon Petroleum in the fourth quarter worth about $30,000. Kohmann Bosshard Financial Services LLC acquired a new position in Marathon Petroleum in the fourth quarter valued at approximately $31,000. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Marathon Petroleum in the 3rd quarter valued at $39,000. Finally, IAG Wealth Partners LLC acquired a new position in Marathon Petroleum in the third quarter valued at about $39,000. 76.77% of the stock is owned by institutional investors.
Marathon Petroleum Company Profile
Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.
Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.