Equities research analysts at Credit Suisse Group initiated coverage on shares of Marathon Petroleum (NYSE:MPC) in a research note issued on Wednesday, January 3rd, Marketbeat reports. The firm set an “outperform” rating and a $83.00 price target on the oil and gas company’s stock. Credit Suisse Group’s price objective would suggest a potential upside of 16.21% from the company’s previous close.
A number of other research firms have also recently commented on MPC. Cowen reiterated a “buy” rating and issued a $60.00 price target on shares of Marathon Petroleum in a research note on Tuesday, October 17th. Zacks Investment Research cut Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Wednesday, November 22nd. Citigroup increased their price target on Marathon Petroleum from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. Edward Jones upgraded Marathon Petroleum from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. Finally, Bank of America cut Marathon Petroleum from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 5th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $69.50.
Shares of Marathon Petroleum (NYSE:MPC) traded up $1.17 during mid-day trading on Wednesday, reaching $71.42. The company had a trading volume of 2,590,000 shares, compared to its average volume of 3,740,000. Marathon Petroleum has a 12 month low of $46.88 and a 12 month high of $71.50. The company has a market capitalization of $34,880.00, a P/E ratio of 22.32, a P/E/G ratio of 1.25 and a beta of 1.62. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.80 and a current ratio of 1.52.
Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.29. Marathon Petroleum had a return on equity of 8.52% and a net margin of 2.35%. The company had revenue of $19.36 billion for the quarter, compared to the consensus estimate of $19.38 billion. During the same quarter last year, the company earned $0.58 earnings per share. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year. sell-side analysts predict that Marathon Petroleum will post 3.85 EPS for the current fiscal year.
In other Marathon Petroleum news, insider Thomas M. Kelley sold 35,604 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $64.75, for a total value of $2,305,359.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Raymond L. Brooks sold 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $62.26, for a total value of $809,380.00. Following the completion of the sale, the vice president now directly owns 32,205 shares in the company, valued at $2,005,083.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 149,854 shares of company stock worth $9,482,177. 1.05% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Zeke Capital Advisors LLC boosted its stake in shares of Marathon Petroleum by 30.3% in the third quarter. Zeke Capital Advisors LLC now owns 8,891 shares of the oil and gas company’s stock worth $499,000 after acquiring an additional 2,069 shares during the last quarter. Vaughan David Investments Inc. IL boosted its stake in shares of Marathon Petroleum by 12,827.2% in the third quarter. Vaughan David Investments Inc. IL now owns 607,579 shares of the oil and gas company’s stock worth $9,405,000 after acquiring an additional 602,879 shares during the last quarter. Commonwealth Bank of Australia boosted its stake in shares of Marathon Petroleum by 1.8% in the second quarter. Commonwealth Bank of Australia now owns 174,826 shares of the oil and gas company’s stock worth $9,147,000 after acquiring an additional 3,097 shares during the last quarter. Sumitomo Life Insurance Co. boosted its stake in shares of Marathon Petroleum by 97.6% in the third quarter. Sumitomo Life Insurance Co. now owns 55,994 shares of the oil and gas company’s stock worth $3,140,000 after acquiring an additional 27,655 shares during the last quarter. Finally, APG Asset Management N.V. boosted its stake in shares of Marathon Petroleum by 14.0% in the third quarter. APG Asset Management N.V. now owns 2,961,791 shares of the oil and gas company’s stock worth $166,097,000 after acquiring an additional 362,600 shares during the last quarter. 80.61% of the stock is currently owned by institutional investors.
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About Marathon Petroleum
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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