Marathon Petroleum Corp. (NYSE:MPC)’s share price dropped 2.4% during mid-day trading on Friday . The stock traded as low as $36.39 and last traded at $36.48, with a volume of 6,463,611 shares trading hands. The stock had previously closed at $37.39.

MPC has been the subject of several analyst reports. Credit Suisse Group AG reduced their price target on shares of Marathon Petroleum Corp. from $58.00 to $48.00 in a report on Tuesday, April 12th. Wells Fargo & Co. reissued a “buy” rating on shares of Marathon Petroleum Corp. in a report on Saturday, July 9th. Citigroup Inc. reissued a “buy” rating on shares of Marathon Petroleum Corp. in a report on Wednesday, May 18th. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Marathon Petroleum Corp. in a report on Wednesday, April 27th. Finally, Vetr downgraded shares of Marathon Petroleum Corp. from a “strong-buy” rating to a “buy” rating and set a $42.00 price objective for the company. in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $53.65.

The firm’s 50-day moving average price is $35.87 and its 200 day moving average price is $37.66. The firm has a market cap of $19.37 billion and a P/E ratio of 10.01.

Marathon Petroleum Corp. (NYSE:MPC) last posted its quarterly earnings results on Thursday, April 28th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by $0.14. The company earned $12.83 billion during the quarter, compared to analyst estimates of $13.08 billion. The firm’s revenue was down 25.6% compared to the same quarter last year. During the same quarter last year, the company posted $3.24 EPS. Analysts forecast that Marathon Petroleum Corp. will post $2.75 earnings per share for the current fiscal year.

In related news, Director Charles E. Bunch bought 2,000 shares of Marathon Petroleum Corp. stock in a transaction on Monday, May 2nd. The shares were purchased at an average price of $38.56 per share, for a total transaction of $77,120.00. Following the completion of the acquisition, the director now owns 4,377 shares in the company, valued at $168,777.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Steven A. Davis bought 1,500 shares of Marathon Petroleum Corp. stock in a transaction on Thursday, May 26th. The shares were bought at an average price of $34.70 per share, for a total transaction of $52,050.00. Following the acquisition, the director now owns 9,472 shares of the company’s stock, valued at approximately $328,678.40. The disclosure for this purchase can be found here.

A number of institutional investors recently modified their holdings of MPC. ARGI Investment Services LLC boosted its position in shares of Marathon Petroleum Corp. by 5.2% in the fourth quarter. ARGI Investment Services LLC now owns 19,445 shares of the company’s stock worth $1,008,000 after buying an additional 959 shares during the period. Miller Howard Investments Inc. NY boosted its position in shares of Marathon Petroleum Corp. by 110.3% in the fourth quarter. Miller Howard Investments Inc. NY now owns 19,520 shares of the company’s stock worth $1,012,000 after buying an additional 10,238 shares during the period. Toronto Dominion Bank boosted its position in shares of Marathon Petroleum Corp. by 104.8% in the fourth quarter. Toronto Dominion Bank now owns 20,337 shares of the company’s stock worth $1,055,000 after buying an additional 10,406 shares during the period. FineMark National Bank & Trust boosted its position in shares of Marathon Petroleum Corp. by 342.4% in the fourth quarter. FineMark National Bank & Trust now owns 22,307 shares of the company’s stock worth $1,156,000 after buying an additional 17,265 shares during the period. Finally, BOKF NA boosted its position in shares of Marathon Petroleum Corp. by 16.5% in the fourth quarter. BOKF NA now owns 23,409 shares of the company’s stock worth $1,214,000 after buying an additional 3,309 shares during the period.

Marathon Petroleum Corporation is engaged in petroleum product refining, marketing, retail and transportation businesses in the United States and the east of the Mississippi. The Company’s segments include Refining & Marketing, Speedway, and Midstream. Its Refining & Marketing segment refines crude oil and other feedstocks at its approximately seven refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.