Raymond James Financial Increases Marathon Petroleum (NYSE:MPC) Price Target to $210.00

Marathon Petroleum (NYSE:MPC) had its price target upped by equities research analysts at Raymond James Financial from $205.00 to $210.00 in a research note issued on Friday,MarketScreener reports. The firm presently has an “outperform” rating on the oil and gas company’s stock. Raymond James Financial’s price objective indicates a potential upside of 19.74% from the stock’s previous close.

MPC has been the topic of several other reports. Wells Fargo & Company reduced their price target on Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. JPMorgan Chase & Co. cut their target price on shares of Marathon Petroleum from $211.00 to $179.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 13th. Barclays decreased their price target on shares of Marathon Petroleum from $202.00 to $194.00 and set an “overweight” rating for the company in a research report on Tuesday, January 13th. Piper Sandler dropped their price target on shares of Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Finally, Zacks Research cut shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Nine investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $196.67.

Marathon Petroleum Price Performance

Shares of NYSE:MPC traded down $0.37 during trading on Friday, hitting $175.39. 1,634,952 shares of the company were exchanged, compared to its average volume of 1,943,898. Marathon Petroleum has a 1-year low of $115.10 and a 1-year high of $202.29. The company has a market capitalization of $52.72 billion, a P/E ratio of 18.70, a price-to-earnings-growth ratio of 0.76 and a beta of 0.74. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 1.31. The business’s 50 day moving average is $179.65 and its 200-day moving average is $180.70.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.01. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%.The company had revenue of $34.81 billion for the quarter, compared to the consensus estimate of $31.06 billion. Equities analysts forecast that Marathon Petroleum will post 8.47 earnings per share for the current year.

Institutional Trading of Marathon Petroleum

Several large investors have recently modified their holdings of MPC. Vanguard Group Inc. boosted its stake in Marathon Petroleum by 11.2% during the second quarter. Vanguard Group Inc. now owns 38,866,104 shares of the oil and gas company’s stock worth $6,456,049,000 after acquiring an additional 3,924,713 shares in the last quarter. Norges Bank bought a new stake in Marathon Petroleum in the second quarter valued at $527,197,000. Geode Capital Management LLC raised its holdings in shares of Marathon Petroleum by 14.8% during the second quarter. Geode Capital Management LLC now owns 8,013,213 shares of the oil and gas company’s stock valued at $1,325,598,000 after purchasing an additional 1,033,645 shares during the period. Boston Partners boosted its position in shares of Marathon Petroleum by 13.1% during the 2nd quarter. Boston Partners now owns 6,163,737 shares of the oil and gas company’s stock worth $1,024,395,000 after purchasing an additional 715,223 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in shares of Marathon Petroleum by 27,979.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 659,595 shares of the oil and gas company’s stock valued at $109,565,000 after buying an additional 657,246 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

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.