Marathon Petroleum Corporation (NYSE:MPC)‘s stock had its “overweight” rating reiterated by investment analysts at Barclays PLC in a research report issued to clients and investors on Tuesday. They currently have a $63.00 price objective on the oil and gas company’s stock, up from their previous price objective of $62.00. Barclays PLC’s price objective suggests a potential upside of 11.76% from the stock’s current price.
Other research analysts have also issued reports about the company. Cowen and Company upped their target price on Marathon Petroleum Corporation from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. Zacks Investment Research lowered Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Scotiabank set a $55.00 target price on Marathon Petroleum Corporation and gave the company a “hold” rating in a research note on Tuesday, July 11th. BidaskClub upgraded Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Finally, Goldman Sachs Group, Inc. (The) lowered Marathon Petroleum Corporation from a “buy” rating to a “neutral” rating and set a $63.00 target price for the company. in a research note on Tuesday, October 3rd. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $60.33.
Shares of Marathon Petroleum Corporation (NYSE:MPC) traded down 0.32% during mid-day trading on Tuesday, hitting $56.37. 2,839,241 shares of the company were exchanged. Marathon Petroleum Corporation has a 12-month low of $40.01 and a 12-month high of $57.02. The stock has a market cap of $28.54 billion, a PE ratio of 33.61 and a beta of 1.56. The stock’s 50-day moving average price is $54.35 and its 200 day moving average price is $52.83.
Marathon Petroleum Corporation (NYSE:MPC) last issued its earnings results on Thursday, July 27th. The oil and gas company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.01). The firm had revenue of $18.35 billion during the quarter, compared to analyst estimates of $19.98 billion. Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 earnings per share. On average, equities analysts anticipate that Marathon Petroleum Corporation will post $3.06 EPS for the current fiscal year.
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In other Marathon Petroleum Corporation news, VP C. Michael Palmer sold 11,450 shares of the company’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $53.02, for a total value of $607,079.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.05% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Crow Point Partners LLC bought a new stake in shares of Marathon Petroleum Corporation during the third quarter worth $128,000. Osborn Williams & Donohoe LLC grew its holdings in shares of Marathon Petroleum Corporation by 2.0% during the third quarter. Osborn Williams & Donohoe LLC now owns 88,641 shares of the oil and gas company’s stock worth $4,971,000 after purchasing an additional 1,736 shares during the last quarter. Perpetual Ltd grew its holdings in shares of Marathon Petroleum Corporation by 18.3% during the second quarter. Perpetual Ltd now owns 6,468 shares of the oil and gas company’s stock worth $338,000 after purchasing an additional 1,000 shares during the last quarter. Intl Fcstone Inc. bought a new stake in shares of Marathon Petroleum Corporation during the second quarter worth $867,000. Finally, Achmea Investment Management B.V. grew its holdings in shares of Marathon Petroleum Corporation by 19.6% during the second quarter. Achmea Investment Management B.V. now owns 62,672 shares of the oil and gas company’s stock worth $3,276,000 after purchasing an additional 10,259 shares during the last quarter. Institutional investors own 78.25% of the company’s stock.
About Marathon Petroleum Corporation
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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