Marathon Petroleum Corporation (NYSE:MPC)‘s stock had its “buy” rating reaffirmed by investment analysts at Cowen and Company in a research report issued to clients and investors on Tuesday, October 17th. They currently have a $60.00 price objective on the oil and gas company’s stock. Cowen and Company’s target price points to a potential downside of 3.77% from the company’s previous close.
Several other equities analysts have also weighed in on MPC. Scotiabank reissued a “hold” rating and issued a $55.00 target price on shares of Marathon Petroleum Corporation in a research note on Friday, September 1st. BidaskClub upgraded Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Jefferies Group LLC reiterated a “buy” rating and set a $64.00 price objective (down from $65.00) on shares of Marathon Petroleum Corporation in a report on Wednesday, September 6th. Credit Suisse Group restated a “buy” rating and issued a $64.00 price target on shares of Marathon Petroleum Corporation in a research note on Friday, July 14th. Finally, Zacks Investment Research upgraded Marathon Petroleum Corporation from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research note on Monday, October 16th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $62.07.
Shares of Marathon Petroleum Corporation (NYSE:MPC) traded up $0.15 during trading hours on Tuesday, reaching $62.35. The company’s stock had a trading volume of 3,692,911 shares, compared to its average volume of 3,840,000. The company has a quick ratio of 0.80, a current ratio of 1.52 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $30,420.00, a PE ratio of 18.91, a price-to-earnings-growth ratio of 1.61 and a beta of 1.60. Marathon Petroleum Corporation has a 52-week low of $40.93 and a 52-week high of $62.78.
Marathon Petroleum Corporation (NYSE:MPC) last announced its earnings results on Thursday, October 26th. The oil and gas company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.48 by $0.29. The company had revenue of $19.36 billion for the quarter, compared to analysts’ expectations of $19.38 billion. Marathon Petroleum Corporation had a return on equity of 8.52% and a net margin of 2.35%. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.58 earnings per share. equities research analysts forecast that Marathon Petroleum Corporation will post 3.52 earnings per share for the current fiscal year.
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In other Marathon Petroleum Corporation news, VP C. Michael Palmer sold 11,450 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $53.02, for a total value of $607,079.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.05% of the company’s stock.
Large investors have recently made changes to their positions in the company. OMERS ADMINISTRATION Corp lifted its stake in shares of Marathon Petroleum Corporation by 341.7% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 53,000 shares of the oil and gas company’s stock valued at $2,773,000 after purchasing an additional 41,000 shares during the period. Wilen Investment Management CORP. raised its stake in Marathon Petroleum Corporation by 31.3% during the 2nd quarter. Wilen Investment Management CORP. now owns 38,148 shares of the oil and gas company’s stock worth $1,984,000 after buying an additional 9,100 shares during the period. Commonwealth Bank of Australia raised its stake in Marathon Petroleum Corporation by 1.8% during the 2nd quarter. Commonwealth Bank of Australia now owns 174,826 shares of the oil and gas company’s stock worth $9,147,000 after buying an additional 3,097 shares during the period. Fox Run Management L.L.C. raised its stake in Marathon Petroleum Corporation by 143.6% during the 2nd quarter. Fox Run Management L.L.C. now owns 26,800 shares of the oil and gas company’s stock worth $1,402,000 after buying an additional 15,800 shares during the period. Finally, Heritage Way Advisors LLC raised its stake in Marathon Petroleum Corporation by 2.4% during the 2nd quarter. Heritage Way Advisors LLC now owns 36,975 shares of the oil and gas company’s stock worth $1,935,000 after buying an additional 850 shares during the period. 81.28% of the stock is currently owned by institutional investors.
About Marathon Petroleum Corporation
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.
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