Marathon Petroleum (NYSE:MPC) Stock Price Expected to Rise, Raymond James Analyst Says

Marathon Petroleum (NYSE:MPC) had its target price upped by analysts at Raymond James from $190.00 to $192.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “strong-buy” rating on the oil and gas company’s stock. Raymond James’ target price would indicate a potential upside of 25.63% from the stock’s current price.

Several other research analysts have also recently weighed in on the company. TD Cowen reaffirmed a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Mizuho cut their target price on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Bank of America began coverage on shares of Marathon Petroleum in a research report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price target on the stock. Barclays cut their price objective on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Finally, BMO Capital Markets reduced their target price on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Marathon Petroleum has an average rating of “Moderate Buy” and an average price target of $181.20.

Marathon Petroleum Stock Performance

Shares of MPC opened at $152.83 on Friday. The firm has a market capitalization of $49.12 billion, a PE ratio of 12.11, a P/E/G ratio of 2.51 and a beta of 1.42. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The firm has a 50-day moving average price of $147.76 and a 200 day moving average price of $159.31. Marathon Petroleum has a 52-week low of $130.54 and a 52-week high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.90. The business had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The business’s revenue for the quarter was down 14.9% on a year-over-year basis. During the same quarter last year, the business earned $8.14 earnings per share. On average, sell-side analysts anticipate that Marathon Petroleum will post 9.38 earnings per share for the current fiscal year.

Marathon Petroleum announced that its Board of Directors has approved a stock buyback plan on Tuesday, November 5th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the oil and gas company to buy up to 10% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other Marathon Petroleum news, Director Jeffrey C. Campbell purchased 6,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were bought at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the purchase, the director now directly owns 6,090 shares in the company, valued at $911,124.90. This trade represents a 6,666.67 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Marathon Petroleum

Several institutional investors and hedge funds have recently modified their holdings of MPC. Gladius Capital Management LP bought a new position in Marathon Petroleum during the third quarter valued at about $26,000. MeadowBrook Investment Advisors LLC raised its stake in shares of Marathon Petroleum by 88.9% in the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 80 shares in the last quarter. True Wealth Design LLC lifted its holdings in Marathon Petroleum by 672.7% in the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 148 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in Marathon Petroleum during the third quarter worth approximately $30,000. Finally, Darwin Wealth Management LLC acquired a new position in Marathon Petroleum during the third quarter valued at approximately $33,000. Institutional investors and hedge funds 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.