Marathon Petroleum (NYSE:MPC) Price Target Raised to $255.00

Marathon Petroleum (NYSE:MPC) had its target price upped by stock analysts at BMO Capital Markets from $230.00 to $255.00 in a report released on Tuesday,MarketScreener reports. The firm presently has an “outperform” rating on the oil and gas company’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 10.10% from the stock’s previous close.

MPC has been the subject of several other research reports. Piper Sandler lowered their price target on Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. UBS Group upped their price objective on shares of Marathon Petroleum from $221.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Zacks Research cut shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Wells Fargo & Company lifted their price objective on shares of Marathon Petroleum from $213.00 to $217.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. Finally, TD Cowen raised their price objective on Marathon Petroleum from $198.00 to $299.00 and gave the stock a “buy” rating in a research note on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $220.75.

Marathon Petroleum Stock Down 5.6%

Shares of NYSE MPC traded down $13.82 during trading hours on Tuesday, hitting $231.60. 238,946 shares of the stock were exchanged, compared to its average volume of 2,571,619. Marathon Petroleum has a 12 month low of $115.42 and a 12 month high of $255.77. The firm has a fifty day moving average price of $215.15 and a 200-day moving average price of $195.36. 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 company has a market cap of $68.21 billion, a PE ratio of 17.30, a PEG ratio of 0.51 and a beta of 0.58.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.73 by $0.34. Marathon Petroleum had a net margin of 2.99% and a return on equity of 13.90%. The business had revenue of $32.57 billion for the quarter, compared to analyst estimates of $30.89 billion. During the same period in the previous year, the company earned $0.77 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. On average, sell-side analysts expect that Marathon Petroleum will post 8.47 EPS for the current year.

Insider Buying and Selling

In other Marathon Petroleum news, insider Ricky D. Hessling sold 1,626 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $228.18, for a total value of $371,020.68. Following the sale, the insider owned 7,525 shares in the company, valued at approximately $1,717,054.50. This represents a 17.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders sold 4,473 shares of company stock valued at $1,015,428. Corporate insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Marathon Petroleum

A number of institutional investors have recently modified their holdings of MPC. Creative Financial Designs Inc. ADV increased its position in shares of Marathon Petroleum by 2.6% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 2,050 shares of the oil and gas company’s stock valued at $333,000 after buying an additional 51 shares in the last quarter. IFG Advisory LLC increased its stake in shares of Marathon Petroleum by 1.5% during the fourth quarter. IFG Advisory LLC now owns 3,429 shares of the oil and gas company’s stock worth $558,000 after purchasing an additional 51 shares in the last quarter. Associated Banc Corp lifted its stake in Marathon Petroleum by 2.1% in the 3rd quarter. Associated Banc Corp now owns 2,475 shares of the oil and gas company’s stock valued at $477,000 after buying an additional 52 shares in the last quarter. Eagle Bluffs Wealth Management LLC boosted its holdings in Marathon Petroleum by 1.2% in the 4th quarter. Eagle Bluffs Wealth Management LLC now owns 4,357 shares of the oil and gas company’s stock worth $709,000 after buying an additional 52 shares during the last quarter. Finally, Auxano Advisors LLC boosted its holdings in Marathon Petroleum by 2.1% in the 4th quarter. Auxano Advisors LLC now owns 2,630 shares of the oil and gas company’s stock worth $428,000 after buying an additional 55 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

About Marathon Petroleum

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.