Scotiabank Analysts Give Marathon Petroleum Corporation (NYSE:MPC) a $55.00 Price Target

Marathon Petroleum Corporation (NYSE:MPC) has been given a $55.00 price target by analysts at Scotiabank in a report released on Tuesday, July 11th. The firm currently has a “hold” rating on the oil and gas company’s stock. Scotiabank’s price target indicates a potential upside of 5.44% from the company’s current price.

A number of other brokerages have also issued reports on MPC. BidaskClub lowered Marathon Petroleum Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Jefferies Group LLC restated a “buy” rating and issued a $61.00 target price on shares of Marathon Petroleum Corporation in a research report on Wednesday, April 19th. US Capital Advisors restated a “buy” rating on shares of Marathon Petroleum Corporation in a research report on Monday, May 22nd. Citigroup Inc. restated a “buy” rating and issued a $67.00 target price (down from $68.50) on shares of Marathon Petroleum Corporation in a research report on Saturday, April 22nd. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $69.00 target price on shares of Marathon Petroleum Corporation in a research report on Thursday, June 1st. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $58.62.

Shares of Marathon Petroleum Corporation (MPC) opened at 52.16 on Tuesday. The stock has a market capitalization of $26.41 billion, a price-to-earnings ratio of 31.10 and a beta of 1.56. Marathon Petroleum Corporation has a one year low of $39.29 and a one year high of $56.81. The firm’s 50-day moving average is $54.14 and its 200-day moving average is $51.64.

Marathon Petroleum Corporation (NYSE:MPC) last issued its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by $0.01. Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. The business had revenue of $18.35 billion during the quarter, compared to the consensus estimate of $19.98 billion. During the same period last year, the company earned $1.07 earnings per share. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. Equities research analysts forecast that Marathon Petroleum Corporation will post $2.74 EPS for the current year.

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In other news, VP C. Michael Palmer sold 4,000 shares of the company’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $53.25, for a total value of $213,000.00. Following the transaction, the vice president now directly owns 61,757 shares of the company’s stock, valued at $3,288,560.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas M. Kelley sold 25,000 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $54.33, for a total transaction of $1,358,250.00. The disclosure for this sale can be found here. Insiders sold 33,568 shares of company stock valued at $1,808,969 in the last 90 days. Corporate insiders own 1.05% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Guardian Life Insurance Co. of America increased its position in Marathon Petroleum Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,036 shares of the oil and gas company’s stock worth $103,000 after buying an additional 14 shares during the period. Accurate Investment Solutions Inc. increased its position in Marathon Petroleum Corporation by 0.4% in the second quarter. Accurate Investment Solutions Inc. now owns 3,982 shares of the oil and gas company’s stock worth $208,000 after buying an additional 14 shares during the period. Capital Investment Advisors LLC increased its position in Marathon Petroleum Corporation by 0.3% in the second quarter. Capital Investment Advisors LLC now owns 6,420 shares of the oil and gas company’s stock valued at $336,000 after buying an additional 19 shares during the last quarter. Good Life Advisors LLC increased its position in Marathon Petroleum Corporation by 0.5% in the second quarter. Good Life Advisors LLC now owns 6,708 shares of the oil and gas company’s stock valued at $363,000 after buying an additional 35 shares during the last quarter. Finally, Tarbox Group Inc. increased its position in Marathon Petroleum Corporation by 1.5% in the first quarter. Tarbox Group Inc. now owns 2,423 shares of the oil and gas company’s stock valued at $122,000 after buying an additional 36 shares during the last quarter. 81.58% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Corporation Company Profile

Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.

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