BMO Capital Markets Cuts Marathon Petroleum (NYSE:MPC) Price Target to $190.00

Marathon Petroleum (NYSE:MPC) had its price objective decreased by BMO Capital Markets from $200.00 to $190.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the oil and gas company’s stock. BMO Capital Markets’ target price would indicate a potential upside of 10.97% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Piper Sandler cut their target price on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Jefferies Financial Group upped their target price on shares of Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a research note on Monday, July 15th. StockNews.com lowered shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Finally, Tudor Pickering lowered shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 9th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $196.14.

Marathon Petroleum Trading Down 2.1 %

Shares of NYSE MPC traded down $3.62 during trading on Friday, hitting $171.22. 1,416,487 shares of the company traded hands, compared to its average volume of 2,692,759. The company has a 50-day moving average price of $169.70 and a 200-day moving average price of $178.67. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. Marathon Petroleum has a 1 year low of $139.93 and a 1 year high of $221.11. The firm has a market capitalization of $60.33 billion, a P/E ratio of 8.56, a P/E/G ratio of 2.59 and a beta of 1.37.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. The firm had revenue of $38.36 billion during the quarter, compared to analysts’ expectations of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the company earned $5.32 EPS. On average, equities analysts predict that Marathon Petroleum will post 10.56 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MPC. CIBC Private Wealth Group LLC boosted its holdings in shares of Marathon Petroleum by 2.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 22,450 shares of the oil and gas company’s stock valued at $3,331,000 after acquiring an additional 507 shares in the last quarter. 1832 Asset Management L.P. lifted its position in shares of Marathon Petroleum by 3.0% in the 4th quarter. 1832 Asset Management L.P. now owns 28,466 shares of the oil and gas company’s stock valued at $4,223,000 after acquiring an additional 832 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its position in shares of Marathon Petroleum by 695.4% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 59,589 shares of the oil and gas company’s stock valued at $8,841,000 after acquiring an additional 52,097 shares in the last quarter. Morningstar Investment Services LLC purchased a new stake in shares of Marathon Petroleum in the 4th quarter valued at approximately $460,000. Finally, Schroder Investment Management Group lifted its position in shares of Marathon Petroleum by 309.9% in the 4th quarter. Schroder Investment Management Group now owns 643,590 shares of the oil and gas company’s stock valued at $95,483,000 after acquiring an additional 486,573 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors.

About Marathon Petroleum

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.