Marathon Petroleum (NYSE:MPC) Price Target Raised to $457.00

Marathon Petroleum (NYSE:MPC) had its price objective hoisted by analysts at Mizuho from $304.00 to $457.00 in a report released on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the oil and gas company’s stock. Mizuho’s price objective indicates a potential upside of 3.42% from the company’s previous close.

Several other analysts have also commented on the company. Weiss Ratings raised Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Barclays increased their price objective on Marathon Petroleum from $289.00 to $321.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. The Goldman Sachs Group boosted their target price on shares of Marathon Petroleum from $376.00 to $472.00 and gave the company a “buy” rating in a research note on Monday, September 21st. Evercore set a $330.00 target price on shares of Marathon Petroleum in a report on Wednesday, August 5th. Finally, Zacks Research upgraded shares of Marathon Petroleum from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $379.94.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $441.88 on Thursday. The firm has a market capitalization of $129.00 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 0.13 and a beta of 0.54. 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 $444.99. The firm has a 50-day moving average price of $374.68 and a 200 day moving average price of $298.14.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, beating analysts’ consensus estimates of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The company had revenue of $51.99 billion for the quarter, compared to the consensus estimate of $40.87 billion. During the same period in the previous year, the business earned $3.96 earnings per share. The company’s quarterly revenue was up 53.5% on a year-over-year basis. Research analysts anticipate that Marathon Petroleum will post 61.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Erin M. Brzezinski sold 570 shares of the business’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total transaction of $206,790.30. Following the completion of the sale, the vice president owned 1,576 shares in the company, valued at $571,757.04. The trade was a 26.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Molly Benson sold 17,196 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the sale, the insider directly owned 30,334 shares of the company’s stock, valued at approximately $10,876,862.38. This trade represents a 36.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 21,691 shares of company stock valued at $7,780,127. 0.17% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Marathon Petroleum

Several large investors have recently bought and sold shares of MPC. Solstein Capital LLC acquired a new stake in Marathon Petroleum in the second quarter worth $26,000. Caitlin John LLC acquired a new position in shares of Marathon Petroleum in the 2nd quarter valued at $26,000. Bell Investment Advisors Inc acquired a new stake in Marathon Petroleum during the 2nd quarter worth $27,000. Cetera Trust Company N.A acquired a new stake in Marathon Petroleum during the 2nd quarter worth $35,000. Finally, Frazier Financial Advisors LLC bought a new position in Marathon Petroleum during the second quarter worth about $36,000. Institutional investors 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, jet fuel, asphalt, propane and other refined products used by consumers, businesses and industrial customers.

Marathon Petroleum operates refineries and related logistics assets in the United States, with a refining and marketing presence serving markets across the Midwest, Gulf Coast and West Coast.