Marathon Petroleum (MPC) Receives “Buy” Rating from Cowen

Marathon Petroleum (NYSE:MPC)‘s stock had its “buy” rating reaffirmed by Cowen in a report issued on Thursday. They currently have a $111.00 price target on the oil and gas company’s stock. Cowen’s price objective points to a potential upside of 68.92% from the stock’s previous close.

Several other brokerages have also recently weighed in on MPC. Zacks Investment Research upgraded Marathon Petroleum from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a report on Tuesday, October 9th. Barclays started coverage on Marathon Petroleum in a report on Wednesday, October 3rd. They issued an “overweight” rating and a $125.00 target price for the company. Wells Fargo & Co reiterated a “buy” rating on shares of Marathon Petroleum in a report on Monday, August 27th. Mizuho started coverage on Marathon Petroleum in a report on Wednesday, August 1st. They issued a “buy” rating and a $95.00 target price for the company. Finally, Morgan Stanley lowered their target price on Marathon Petroleum from $110.00 to $95.00 and set a “buy” rating for the company in a report on Tuesday, November 20th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $94.60.

MPC traded up $0.55 during trading hours on Thursday, reaching $65.71. 93,986 shares of the company’s stock traded hands, compared to its average volume of 5,805,364. Marathon Petroleum has a 52-week low of $60.64 and a 52-week high of $88.45. The company has a quick ratio of 1.09, a current ratio of 1.65 and a debt-to-equity ratio of 0.97. The stock has a market cap of $45.02 billion, a P/E ratio of 17.30, a PEG ratio of 0.91 and a beta of 1.43.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Thursday, November 1st. The oil and gas company reported $1.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.02. Marathon Petroleum had a return on equity of 12.28% and a net margin of 4.48%. The company had revenue of $23.13 billion during the quarter, compared to analysts’ expectations of $23.20 billion. During the same quarter in the previous year, the business earned $1.77 EPS. Marathon Petroleum’s revenue was up 19.3% compared to the same quarter last year. Equities analysts anticipate that Marathon Petroleum will post 5.03 EPS for the current fiscal year.

In related news, Director Steven A. Davis acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The stock was purchased at an average cost of $62.20 per share, for a total transaction of $155,500.00. Following the purchase, the director now directly owns 16,462 shares of the company’s stock, valued at approximately $1,023,936.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.09% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of MPC. PointState Capital LP purchased a new stake in shares of Marathon Petroleum during the 2nd quarter worth $378,482,000. BlackRock Inc. increased its position in Marathon Petroleum by 9.8% during the 3rd quarter. BlackRock Inc. now owns 39,961,377 shares of the oil and gas company’s stock valued at $3,195,712,000 after buying an additional 3,550,450 shares in the last quarter. Bank of New York Mellon Corp increased its position in Marathon Petroleum by 44.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,506,332 shares of the oil and gas company’s stock valued at $526,645,000 after buying an additional 2,297,774 shares in the last quarter. Morgan Stanley increased its position in Marathon Petroleum by 59.5% during the 2nd quarter. Morgan Stanley now owns 5,798,607 shares of the oil and gas company’s stock valued at $406,829,000 after buying an additional 2,162,851 shares in the last quarter. Finally, FIL Ltd increased its position in Marathon Petroleum by 274.4% during the 3rd quarter. FIL Ltd now owns 2,851,049 shares of the oil and gas company’s stock valued at $227,998,000 after buying an additional 2,089,558 shares in the last quarter. Hedge funds and other institutional investors own 83.16% of the company’s stock.

About Marathon Petroleum

Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.

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Analyst Recommendations for Marathon Petroleum (NYSE:MPC)

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