Marathon Petroleum (MPC) Coverage Initiated at Credit Suisse Group

Equities researchers at Credit Suisse Group assumed coverage on shares of Marathon Petroleum (NYSE:MPC) in a research note issued to investors on Wednesday. The firm set an “outperform” rating and a $83.00 price target on the oil and gas company’s stock. Credit Suisse Group’s target price would indicate a potential upside of 20.85% from the company’s previous close.

A number of other research analysts have also recently issued reports on the stock. ValuEngine upgraded shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. UBS Group cut shares of Marathon Petroleum from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $63.00 to $65.00 in a report on Sunday, November 26th. Zacks Investment Research cut shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Wednesday, November 22nd. Barclays lifted their price objective on shares of Marathon Petroleum from $63.00 to $76.00 and gave the company an “overweight” rating in a report on Tuesday, November 14th. Finally, Cowen lifted their price objective on shares of Marathon Petroleum from $60.00 to $79.00 and gave the company an “outperform” rating in a report on Tuesday, November 14th. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Marathon Petroleum presently has an average rating of “Buy” and an average target price of $67.83.

Marathon Petroleum (NYSE:MPC) traded up $0.07 during trading hours on Wednesday, reaching $68.68. 3,156,400 shares of the company’s stock were exchanged, compared to its average volume of 3,685,400. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.52 and a quick ratio of 0.80. The firm has a market capitalization of $33,840.00, a PE ratio of 21.46, a price-to-earnings-growth ratio of 1.24 and a beta of 1.62. Marathon Petroleum has a 1-year low of $46.88 and a 1-year high of $69.06.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.29. The firm had revenue of $19.36 billion during the quarter, compared to analysts’ expectations of $19.38 billion. Marathon Petroleum had a net margin of 2.35% and a return on equity of 8.52%. The business’s revenue was up 17.6% on a year-over-year basis. During the same period last year, the company earned $0.58 earnings per share. research analysts forecast that Marathon Petroleum will post 3.85 EPS for the current year.

In related news, VP Rodney P. Nichols sold 6,374 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $64.93, for a total transaction of $413,863.82. Following the transaction, the vice president now directly owns 74,674 shares of the company’s stock, valued at $4,848,582.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anthony R. Kenney sold 77,578 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $62.35, for a total transaction of $4,836,988.30. The disclosure for this sale can be found here. Insiders have sold 149,854 shares of company stock worth $9,482,177 over the last three months. 1.05% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Federated Investors Inc. PA raised its position in Marathon Petroleum by 124.0% in the second quarter. Federated Investors Inc. PA now owns 40,064 shares of the oil and gas company’s stock worth $2,097,000 after acquiring an additional 22,182 shares during the period. Victory Capital Management Inc. raised its position in Marathon Petroleum by 13.0% in the second quarter. Victory Capital Management Inc. now owns 99,490 shares of the oil and gas company’s stock worth $5,206,000 after acquiring an additional 11,439 shares during the period. Bronfman E.L. Rothschild L.P. raised its position in Marathon Petroleum by 2.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,700 shares of the oil and gas company’s stock worth $194,000 after acquiring an additional 103 shares during the period. Oppenheimer & Co. Inc. raised its position in Marathon Petroleum by 39.2% in the second quarter. Oppenheimer & Co. Inc. now owns 21,090 shares of the oil and gas company’s stock worth $1,104,000 after acquiring an additional 5,936 shares during the period. Finally, Atlantic Trust Group LLC raised its position in Marathon Petroleum by 5.6% in the second quarter. Atlantic Trust Group LLC now owns 52,739 shares of the oil and gas company’s stock worth $2,760,000 after acquiring an additional 2,794 shares during the period. 80.61% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION WARNING: This report was published by Ticker Report and is owned by of Ticker Report. If you are reading this report on another site, it was illegally stolen and republished in violation of US & international copyright & trademark law. The correct version of this report can be viewed at https://www.tickerreport.com/banking-finance/3127506/marathon-petroleum-mpc-coverage-initiated-at-credit-suisse-group.html.

About Marathon Petroleum

Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.

Analyst Recommendations for Marathon Petroleum (NYSE:MPC)

Receive News & Ratings for Marathon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2018 Ticker Report. Google+.