Marathon Petroleum (NYSE:MPC) Price Target Cut to $168.00

Marathon Petroleum (NYSE:MPC) had its target price dropped by investment analysts at Barclays from $180.00 to $168.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. Barclays‘s price objective indicates a potential upside of 2.27% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Tudor, Pickering, Holt & Co. cut shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research note on Monday, September 9th. TD Cowen increased their price objective on shares of Marathon Petroleum from $187.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Scotiabank dropped their price objective on Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. BMO Capital Markets reduced their price objective on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Finally, Piper Sandler reduced their price target on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $190.73.

Marathon Petroleum Price Performance

NYSE:MPC opened at $164.27 on Thursday. The company has a market capitalization of $57.88 billion, a P/E ratio of 8.21, a P/E/G ratio of 2.65 and a beta of 1.37. 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 52 week low of $140.98 and a 52 week high of $221.11. The stock’s fifty day moving average is $168.89 and its two-hundred day moving average is $177.59.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $1.03. The business had revenue of $38.36 billion for the quarter, compared to analysts’ expectations of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the firm earned $5.32 earnings per share. Equities analysts expect that Marathon Petroleum will post 10.22 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Granite Bay Wealth Management LLC purchased a new position in Marathon Petroleum in the second quarter worth $219,537,000. Capital Wealth Planning LLC lifted its position in Marathon Petroleum by 10,902.9% in the 1st quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock worth $223,792,000 after buying an additional 1,100,536 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Marathon Petroleum by 980.3% in the second quarter. Assenagon Asset Management S.A. now owns 684,718 shares of the oil and gas company’s stock worth $118,785,000 after purchasing an additional 621,336 shares during the last quarter. Panagora Asset Management Inc. grew its position in shares of Marathon Petroleum by 64.1% in the 2nd quarter. Panagora Asset Management Inc. now owns 619,049 shares of the oil and gas company’s stock worth $107,393,000 after buying an additional 241,746 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of 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 worth $463,160,000 after purchasing an additional 209,270 shares during the period. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Company Profile

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.