Barclays Has Lowered Expectations for Marathon Petroleum (NYSE:MPC) Stock Price

Marathon Petroleum (NYSE:MPC) had its target price cut by equities research analysts at Barclays from $168.00 to $159.00 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas company’s stock. Barclays‘s price target points to a potential upside of 2.46% from the stock’s current price.

A number of other equities analysts also recently issued reports on the stock. Mizuho dropped their price objective on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Wolfe Research initiated coverage on shares of Marathon Petroleum in a research note on Thursday, July 18th. They set an “outperform” rating and a $200.00 price target on the stock. Tudor, Pickering, Holt & Co. lowered Marathon Petroleum from a “buy” rating to a “sell” rating in a research note on Monday, September 9th. TD Cowen cut their price target on Marathon Petroleum from $174.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, Wells Fargo & Company decreased their price objective on Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $185.07.

Marathon Petroleum Trading Down 0.6 %

Shares of MPC stock opened at $155.19 on Monday. The company has a current ratio of 1.23, a quick ratio of 0.90 and a debt-to-equity ratio of 0.94. Marathon Petroleum has a 12-month low of $140.98 and a 12-month high of $221.11. The stock has a market capitalization of $49.88 billion, a P/E ratio of 12.30, a P/E/G ratio of 2.75 and a beta of 1.38. The firm’s 50 day moving average is $160.06 and its 200 day moving average is $169.17.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.90. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The firm had revenue of $35.37 billion for the quarter, compared to the consensus estimate of $34.34 billion. During the same period last year, the business posted $8.14 EPS. The company’s revenue for the quarter was down 14.9% on a year-over-year basis. Research analysts expect that Marathon Petroleum will post 9.41 earnings per share for the current year.

Marathon Petroleum declared that its board has approved a share repurchase plan on Tuesday, November 5th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Marathon Petroleum

Large investors have recently bought and sold shares of the business. Crewe Advisors LLC purchased a new position in shares of Marathon Petroleum in the 1st quarter worth $29,000. Gladius Capital Management LP purchased a new position in Marathon Petroleum in the third quarter worth about $26,000. MeadowBrook Investment Advisors LLC increased its stake in Marathon Petroleum by 88.9% during the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 80 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Marathon Petroleum during the third quarter valued at approximately $30,000. Finally, Wellington Shields & Co. LLC bought a new stake in shares of Marathon Petroleum in the 1st quarter valued at approximately $40,000. 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.