Goldman Sachs Group Inc. Reaffirms “Buy” Rating for Marathon Petroleum Corp. (MPC)
Goldman Sachs Group Inc. reaffirmed their buy rating on shares of Marathon Petroleum Corp. (NYSE:MPC) in a research note issued to investors on Wednesday. Goldman Sachs Group Inc. currently has a $54.00 price target on the stock.
Several other brokerages have also recently issued reports on MPC. Credit Suisse Group AG reduced their price target on shares of Marathon Petroleum Corp. from $45.00 to $37.53 and set an outperform rating on the stock in a research report on Wednesday, July 20th. Piper Jaffray Cos. increased their price target on shares of Marathon Petroleum Corp. from $35.00 to $41.00 and gave the stock a neutral rating in a research report on Monday, August 22nd. Vetr cut shares of Marathon Petroleum Corp. from a strong-buy rating to a buy rating and set a $46.33 price target on the stock. in a research report on Monday, August 8th. Jefferies Group started coverage on shares of Marathon Petroleum Corp. in a research report on Tuesday, August 23rd. They set a buy rating and a $48.00 price target on the stock. Finally, Zacks Investment Research raised shares of Marathon Petroleum Corp. from a sell rating to a hold rating in a research report on Tuesday, August 16th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Marathon Petroleum Corp. has a consensus rating of Buy and an average price target of $53.37.
Marathon Petroleum Corp. (NYSE:MPC) traded up 0.132% during mid-day trading on Wednesday, reaching $41.705. 286,561 shares of the company were exchanged. Marathon Petroleum Corp. has a 1-year low of $29.24 and a 1-year high of $59.99. The stock has a 50-day moving average of $42.26 and a 200 day moving average of $38.84. The firm has a market capitalization of $22.05 billion, a P/E ratio of 11.508 and a beta of 2.06.
Marathon Petroleum Corp. (NYSE:MPC) last issued its quarterly earnings results on Thursday, July 28th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.10. The business had revenue of $16.81 billion for the quarter, compared to analysts’ expectations of $16.30 billion. Marathon Petroleum Corp. had a net margin of 3.02% and a return on equity of 10.94%. The business’s quarterly revenue was down 18.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.51 earnings per share. Equities research analysts forecast that Marathon Petroleum Corp. will post $2.41 earnings per share for the current year.
Several large investors have recently modified their holdings of the company. Magnetar Financial LLC bought a new stake in shares of Marathon Petroleum Corp. during the first quarter valued at $63,206,000. Douglas Lane & Associates LLC increased its stake in Marathon Petroleum Corp. by 15.3% in the second quarter. Douglas Lane & Associates LLC now owns 707,623 shares of the company’s stock worth $26,861,000 after buying an additional 93,665 shares during the period. Retirement Systems of Alabama increased its stake in Marathon Petroleum Corp. by 0.6% in the second quarter. Retirement Systems of Alabama now owns 270,116 shares of the company’s stock worth $10,254,000 after buying an additional 1,581 shares during the period. Natixis increased its stake in Marathon Petroleum Corp. by 52.0% in the first quarter. Natixis now owns 1,103,385 shares of the company’s stock worth $41,024,000 after buying an additional 377,559 shares during the period. Finally, Legal & General Group Plc increased its stake in Marathon Petroleum Corp. by 6.6% in the first quarter. Legal & General Group Plc now owns 2,693,717 shares of the company’s stock worth $100,120,000 after buying an additional 167,259 shares during the period. 79.71% of the stock is owned by hedge funds and other institutional investors.
About Marathon Petroleum Corp.
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.
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