Piper Jaffray Companies Reiterates “Overweight” Rating for Marathon Petroleum (MPC)

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Marathon Petroleum (NYSE:MPC)‘s stock had its “overweight” rating reissued by analysts at Piper Jaffray Companies in a report issued on Thursday.

MPC has been the subject of a number of other reports. Morgan Stanley set a $110.00 target price on shares of Marathon Petroleum and gave the company a “buy” rating in a research report on Friday, October 12th. Zacks Investment Research downgraded shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, October 19th. Cowen reiterated a “buy” rating and issued a $111.00 price objective on shares of Marathon Petroleum in a research report on Thursday, November 29th. Barclays initiated coverage on shares of Marathon Petroleum in a research report on Wednesday, October 3rd. They issued an “overweight” rating and a $125.00 price objective for the company. Finally, Citigroup upped their price objective on shares of Marathon Petroleum from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, October 16th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $92.93.

NYSE MPC traded down $0.39 on Thursday, reaching $63.83. 1,637,355 shares of the company’s stock traded hands, compared to its average volume of 6,431,233. The company has a market capitalization of $42.59 billion, a PE ratio of 16.80, a P/E/G ratio of 0.55 and a beta of 1.35. Marathon Petroleum has a fifty-two week low of $54.29 and a fifty-two week high of $88.45. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.65 and a quick ratio of 1.09.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Thursday, November 1st. The oil and gas company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.02. The company had revenue of $23.13 billion during the quarter, compared to the consensus estimate of $23.20 billion. Marathon Petroleum had a net margin of 4.48% and a return on equity of 12.28%. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.77 earnings per share. Research analysts expect that Marathon Petroleum will post 5.13 earnings per share for the current year.

In other Marathon Petroleum news, Director Steven A. Davis acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The stock was bought at an average price of $62.20 per share, with a total value of $155,500.00. Following the purchase, the director now owns 16,462 shares in the company, valued at $1,023,936.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.09% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in MPC. PointState Capital LP purchased a new stake in Marathon Petroleum during the 2nd quarter valued at about $378,482,000. BlackRock Inc. grew its stake in Marathon Petroleum by 9.8% during the 3rd quarter. BlackRock Inc. now owns 39,961,377 shares of the oil and gas company’s stock valued at $3,195,712,000 after acquiring an additional 3,550,450 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Marathon Petroleum by 44.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,506,332 shares of the oil and gas company’s stock valued at $526,645,000 after acquiring an additional 2,297,774 shares in the last quarter. Morgan Stanley grew its stake in Marathon Petroleum by 59.5% during the 2nd quarter. Morgan Stanley now owns 5,798,607 shares of the oil and gas company’s stock valued at $406,829,000 after acquiring an additional 2,162,851 shares in the last quarter. Finally, FIL Ltd grew its stake in Marathon Petroleum by 274.4% during the 3rd quarter. FIL Ltd now owns 2,851,049 shares of the oil and gas company’s stock valued at $227,998,000 after acquiring an additional 2,089,558 shares in the last quarter. 83.16% of the stock is owned by institutional investors.

About Marathon Petroleum

Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing, Speedway and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.

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Analyst Recommendations for Marathon Petroleum (NYSE:MPC)

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