Marathon Petroleum (MPC) Stock Rating Reaffirmed by Piper Jaffray Companies

Piper Jaffray Companies restated their overweight rating on shares of Marathon Petroleum (NYSE:MPC) in a report published on Thursday morning, MarketBeat reports. Piper Jaffray Companies also issued estimates for Marathon Petroleum’s Q2 2020 earnings at $3.06 EPS and Q3 2020 earnings at $2.91 EPS.

Several other equities analysts have also commented on MPC. Citigroup dropped their target price on Marathon Petroleum from $104.00 to $95.00 and set a buy rating for the company in a research note on Thursday, December 6th. ValuEngine upgraded Marathon Petroleum from a sell rating to a hold rating in a research note on Thursday, December 6th. Cowen reiterated an outperform rating and issued a $101.00 target price (up from $87.00) on shares of Marathon Petroleum in a research note on Thursday, December 6th. They noted that the move was a valuation call. 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 research note on Tuesday, October 9th. Finally, Morgan Stanley set a $110.00 target price on Marathon Petroleum and gave the company a buy rating in a research note on Friday, October 12th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Marathon Petroleum has a consensus rating of Buy and a consensus price target of $94.21.

Marathon Petroleum stock opened at $64.87 on Thursday. The firm has a market capitalization of $44.37 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 0.57 and a beta of 1.35. Marathon Petroleum has a 52 week low of $54.29 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.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Thursday, November 1st. The oil and gas company reported $1.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.02. The firm had revenue of $23.13 billion during the quarter, compared to analyst estimates of $23.20 billion. Marathon Petroleum had a return on equity of 12.28% and a net margin of 4.48%. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.77 earnings per share. Research analysts predict that Marathon Petroleum will post 5.13 EPS for the current year.

In other news, Director Steven A. Davis purchased 2,500 shares of the stock in a transaction on Monday, November 19th. The stock was purchased at an average price of $62.20 per share, with a total value of $155,500.00. Following the completion of the transaction, the director now owns 16,462 shares in the company, valued at $1,023,936.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven A. Davis purchased 3,500 shares of the stock in a transaction on Friday, December 14th. The shares were purchased at an average cost of $62.14 per share, with a total value of $217,490.00. The disclosure for this purchase can be found here. 1.09% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. Stillwater Investment Management LLC raised its holdings in shares of Marathon Petroleum by 0.5% during the fourth quarter. Stillwater Investment Management LLC now owns 33,501 shares of the oil and gas company’s stock worth $1,977,000 after acquiring an additional 180 shares in the last quarter. Rehmann Capital Advisory Group grew its position in Marathon Petroleum by 5.1% during the third quarter. Rehmann Capital Advisory Group now owns 10,130 shares of the oil and gas company’s stock worth $810,000 after buying an additional 495 shares in the last quarter. Shikiar Asset Management Inc. grew its position in Marathon Petroleum by 1.4% during the third quarter. Shikiar Asset Management Inc. now owns 55,325 shares of the oil and gas company’s stock worth $4,424,000 after buying an additional 750 shares in the last quarter. GWM Advisors LLC grew its position in Marathon Petroleum by 16.8% during the third quarter. GWM Advisors LLC now owns 5,274 shares of the oil and gas company’s stock worth $422,000 after buying an additional 757 shares in the last quarter. Finally, IFP Advisors Inc grew its position in Marathon Petroleum by 3.3% during the third quarter. IFP Advisors Inc now owns 24,145 shares of the oil and gas company’s stock worth $1,931,000 after buying an additional 769 shares in the last quarter. 83.16% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Company Profile

Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing, Speedway and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.

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Analyst Recommendations for Marathon Petroleum (NYSE:MPC)

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