Marathon Petroleum (NYSE:MPC) Price Target Cut to $145.00

Marathon Petroleum (NYSE:MPC) had its price objective lowered by equities research analysts at Piper Sandler from $168.00 to $145.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the oil and gas company’s stock. Piper Sandler’s price target would indicate a potential downside of 10.33% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. TD Cowen boosted their price target on Marathon Petroleum from $187.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Wolfe Research started coverage on Marathon Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price objective for the company. Scotiabank decreased their price target on Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. JPMorgan Chase & Co. decreased their target price on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Finally, Tudor, Pickering, Holt & Co. downgraded shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Marathon Petroleum has an average rating of “Hold” and a consensus target price of $197.69.

Marathon Petroleum Stock Down 2.8 %

MPC traded down $4.64 during trading on Friday, reaching $161.71. The company had a trading volume of 654,710 shares, compared to its average volume of 2,610,931. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90. The business’s fifty day moving average price is $170.01 and its 200 day moving average price is $179.84. The company has a market cap of $56.98 billion, a P/E ratio of 8.08, a PEG ratio of 2.09 and a beta of 1.38. Marathon Petroleum has a 12 month low of $139.32 and a 12 month high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The firm had revenue of $38.36 billion for the quarter, compared to analyst estimates of $36.66 billion. During the same period in the prior year, the firm posted $5.32 earnings per share. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. Equities analysts anticipate that Marathon Petroleum will post 12.68 EPS for the current year.

Institutional Trading of Marathon Petroleum

Several institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James & Associates boosted its stake in shares of Marathon Petroleum by 2.6% in the 2nd quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company’s stock worth $743,690,000 after buying an additional 107,915 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Marathon Petroleum by 1.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company’s stock valued at $620,815,000 after acquiring an additional 31,100 shares in the last quarter. Boston Partners lifted its stake in Marathon Petroleum by 0.3% in the 1st quarter. Boston Partners now owns 2,773,050 shares of the oil and gas company’s stock worth $558,390,000 after purchasing an additional 8,476 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Marathon Petroleum by 8.5% in the 2nd quarter. Pacer Advisors Inc. now owns 2,669,815 shares of the oil and gas company’s stock valued at $463,160,000 after purchasing an additional 209,270 shares during the period. Finally, Acadian Asset Management LLC increased its holdings in shares of Marathon Petroleum by 7.6% in the first quarter. Acadian Asset Management LLC now owns 1,663,835 shares of the oil and gas company’s stock worth $335,241,000 after purchasing an additional 117,790 shares during the period. Hedge funds and other institutional investors own 76.77% of the company’s stock.

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.