Marathon Petroleum (NYSE:MPC) Given New $488.00 Price Target at Barclays

Marathon Petroleum (NYSE:MPC) had its price objective upped by equities researchers at Barclays from $321.00 to $488.00 in a report released on Monday, Benzinga reports. The firm currently has an “overweight” rating on the oil and gas company’s stock. Barclays‘s target price would suggest a potential upside of 6.48% from the company’s current price.

MPC has been the subject of several other research reports. Jefferies Financial Group reiterated a “hold” rating and set a $433.00 price objective on shares of Marathon Petroleum in a research note on Sunday. Morgan Stanley raised their target price on shares of Marathon Petroleum from $265.00 to $453.00 and gave the company an “overweight” rating in a research note on Monday, September 14th. The Goldman Sachs Group lifted their price target on shares of Marathon Petroleum from $376.00 to $472.00 and gave the stock a “buy” rating in a report on Monday, September 21st. Piper Sandler upped their price target on Marathon Petroleum from $344.00 to $462.00 and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. Finally, Wells Fargo & Company increased their price objective on Marathon Petroleum from $359.00 to $400.00 and gave the company an “overweight” rating in a report on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average target price of $395.38.

Marathon Petroleum Stock Up 0.7%

Shares of MPC stock traded up $3.26 during mid-day trading on Monday, hitting $458.29. 940,310 shares of the stock traded hands, compared to its average volume of 2,489,650. The stock has a market cap of $133.79 billion, a P/E ratio of 15.77, a P/E/G ratio of 0.14 and a beta of 0.54. The stock’s fifty day moving average is $380.41 and its two-hundred day moving average is $301.33. Marathon Petroleum has a 52-week low of $161.93 and a 52-week high of $470.00. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, beating analysts’ consensus estimates of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The business had revenue of $51.99 billion for the quarter, compared to analysts’ expectations of $40.87 billion. During the same period last year, the business earned $3.96 EPS. The company’s revenue was up 53.5% compared to the same quarter last year. Equities analysts predict that Marathon Petroleum will post 61.46 EPS for the current year.

Insider Activity at Marathon Petroleum

In related news, SVP Shawn Lyon sold 2,500 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the completion of the sale, the senior vice president directly owned 12,619 shares in the company, valued at $4,416,650. This trade represents a 16.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Erin M. Brzezinski sold 570 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total transaction of $206,790.30. Following the sale, the vice president directly owned 1,576 shares in the company, valued at approximately $571,757.04. This represents a 26.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 21,691 shares of company stock valued at $7,780,127 in the last three months. 0.17% of the stock is owned by insiders.

Institutional Investors Weigh In On Marathon Petroleum

Several institutional investors and hedge funds have recently made changes to their positions in MPC. Capstone Financial Advisors Inc. lifted its position in Marathon Petroleum by 1.8% during the 2nd quarter. Capstone Financial Advisors Inc. now owns 1,938 shares of the oil and gas company’s stock worth $495,000 after acquiring an additional 34 shares during the period. Eastern Bank grew its stake in Marathon Petroleum by 2.1% during the 3rd quarter. Eastern Bank now owns 1,936 shares of the oil and gas company’s stock valued at $766,000 after purchasing an additional 39 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Marathon Petroleum by 3.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,288 shares of the oil and gas company’s stock valued at $329,000 after purchasing an additional 40 shares during the period. Equitable Trust Co. increased its holdings in shares of Marathon Petroleum by 1.6% in the first quarter. Equitable Trust Co. now owns 2,637 shares of the oil and gas company’s stock valued at $644,000 after purchasing an additional 42 shares during the period. Finally, Bartlett & CO. Wealth Management LLC increased its holdings in shares of Marathon Petroleum by 0.4% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 9,548 shares of the oil and gas company’s stock valued at $2,411,000 after purchasing an additional 42 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE:MPC) is an integrated downstream energy company engaged primarily in refining, marketing and transporting petroleum products. The company converts crude oil and other feedstocks into gasoline, diesel, jet fuel, asphalt, propane and other refined products used by consumers, businesses and industrial customers.

Marathon Petroleum operates refineries and related logistics assets in the United States, with a refining and marketing presence serving markets across the Midwest, Gulf Coast and West Coast.