Marathon Petroleum (NYSE:MPC) PT Lowered to $171.00

Marathon Petroleum (NYSE:MPC) had its price target dropped by investment analysts at JPMorgan Chase & Co. from $172.00 to $171.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 3.73% from the stock’s current price.

Several other research firms also recently commented on MPC. Wells Fargo & Company decreased their target price on shares of Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating for the company in a research report on Wednesday. Morgan Stanley decreased their price target on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Mizuho dropped their price objective on Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Tudor Pickering lowered shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. Finally, Barclays reduced their price objective on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a research report on Monday, July 1st. Two research 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 company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $190.73.

Marathon Petroleum Stock Performance

MPC stock opened at $164.85 on Wednesday. The stock has a 50-day moving average price of $169.06 and a 200-day moving average price of $177.68. The firm has a market cap of $58.08 billion, a PE ratio of 8.23, a price-to-earnings-growth ratio of 2.59 and a beta of 1.37. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86. Marathon Petroleum has a 1-year low of $140.98 and a 1-year 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 for the quarter, beating 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 during the quarter, compared to the consensus estimate of $36.66 billion. During the same period in the previous year, the firm posted $5.32 earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year. As a group, equities research analysts expect that Marathon Petroleum will post 10.56 earnings per share for the current year.

Hedge Funds Weigh In On Marathon Petroleum

Several hedge funds and other institutional investors have recently modified their holdings of MPC. Granite Bay Wealth Management LLC purchased a new position in shares of Marathon Petroleum during the second quarter valued at about $219,537,000. Capital Wealth Planning LLC grew its holdings in shares of Marathon Petroleum by 10,902.9% during 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 acquiring an additional 1,100,536 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Marathon Petroleum by 980.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 684,718 shares of the oil and gas company’s stock worth $118,785,000 after acquiring an additional 621,336 shares in the last quarter. Panagora Asset Management Inc. boosted its position in shares of Marathon Petroleum by 64.1% during the second quarter. Panagora Asset Management Inc. now owns 619,049 shares of the oil and gas company’s stock valued at $107,393,000 after purchasing an additional 241,746 shares in the last quarter. Finally, Pacer Advisors Inc. grew its stake in Marathon Petroleum by 8.5% in the second 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. 76.77% of the stock is owned by institutional investors.

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.