Marathon Petroleum Corporation’s (NYSE:MPC) Buy Rating Reiterated at Cowen and Company

Marathon Petroleum Corporation (NYSE:MPC)‘s stock had its “buy” rating reissued by Cowen and Company in a note issued to investors on Tuesday, October 17th. They currently have a $60.00 price objective on the oil and gas company’s stock. Cowen and Company’s price objective points to a potential upside of 4.77% from the stock’s current price.

Other analysts also recently issued reports about the stock. Jefferies Group LLC set a $65.00 price objective on shares of Marathon Petroleum Corporation and gave the company a “buy” rating in a research report on Friday, August 25th. BidaskClub downgraded shares of Marathon Petroleum Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 9th. Credit Suisse Group reissued a “buy” rating and set a $64.00 price objective on shares of Marathon Petroleum Corporation in a research report on Friday, July 14th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $71.00 price target on shares of Marathon Petroleum Corporation in a report on Thursday, August 31st. Finally, ValuEngine raised shares of Marathon Petroleum Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Seven research 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 company presently has an average rating of “Buy” and an average target price of $60.63.

Marathon Petroleum Corporation (NYSE:MPC) traded up 2.48% on Tuesday, reaching $58.69. 2,076,357 shares of the company traded hands. Marathon Petroleum Corporation has a 52-week low of $40.01 and a 52-week high of $58.93. The company has a market capitalization of $29.71 billion, a PE ratio of 35.00 and a beta of 1.56. The stock has a 50-day moving average of $55.25 and a 200 day moving average of $53.23.

Marathon Petroleum Corporation (NYSE:MPC) last issued its quarterly earnings results on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.29. Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. The company had revenue of $19.36 billion during the quarter, compared to analyst estimates of $19.38 billion. During the same period last year, the business earned $0.58 EPS. Marathon Petroleum Corporation’s quarterly revenue was up 17.6% compared to the same quarter last year. On average, equities analysts forecast that Marathon Petroleum Corporation will post $3.28 EPS for the current year.

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In other Marathon Petroleum Corporation news, VP C. Michael Palmer sold 11,450 shares of Marathon Petroleum Corporation stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $53.02, for a total transaction of $607,079.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.05% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of MPC. Blue Chip Partners Inc. purchased a new stake in shares of Marathon Petroleum Corporation during the second quarter valued at $100,000. Guardian Life Insurance Co. of America raised its holdings in shares of 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 valued at $103,000 after acquiring an additional 14 shares in the last quarter. Lee Financial Co raised its holdings in shares of Marathon Petroleum Corporation by 2.4% in the second quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock valued at $107,000 after acquiring an additional 48 shares in the last quarter. Jacobi Capital Management LLC raised its holdings in shares of Marathon Petroleum Corporation by 32.2% in the first quarter. Jacobi Capital Management LLC now owns 2,340 shares of the oil and gas company’s stock valued at $116,000 after acquiring an additional 570 shares in the last quarter. Finally, First Interstate Bank raised its holdings in shares of Marathon Petroleum Corporation by 81.1% in the second quarter. First Interstate Bank now owns 2,376 shares of the oil and gas company’s stock valued at $124,000 after acquiring an additional 1,064 shares in the last quarter. 78.24% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Marathon Petroleum Corporation (NYSE:MPC)

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