Marathon Petroleum (NYSE:MPC) Price Target Raised to $466.00

Marathon Petroleum (NYSE:MPC) had its price objective boosted by stock analysts at Piper Sandler from $462.00 to $466.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. Piper Sandler‘s price objective suggests a potential upside of 21.01% from the stock’s previous close.

A number of other research analysts have also commented on the stock. Barclays boosted their price target on shares of Marathon Petroleum from $321.00 to $488.00 and gave the company an “overweight” rating in a research report on Monday, October 12th. Wells Fargo & Company lifted their price objective on Marathon Petroleum from $560.00 to $564.00 and gave the company an “overweight” rating in a research note on Wednesday. Jefferies Financial Group restated a “hold” rating and issued a $433.00 target price on shares of Marathon Petroleum in a research note on Sunday, October 11th. Citigroup raised their price target on Marathon Petroleum from $318.00 to $518.00 and gave the company a “neutral” rating in a report on Tuesday, October 13th. Finally, Raymond James Financial boosted their price objective on Marathon Petroleum from $350.00 to $445.00 and gave the stock an “outperform” rating in a report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $425.12.

Marathon Petroleum Price Performance

Shares of MPC traded down $7.59 during midday trading on Thursday, hitting $385.09. 1,240,448 shares of the company traded hands, compared to its average volume of 2,467,321. The stock has a 50-day moving average of $421.22 and a 200-day moving average of $293.35. Marathon Petroleum has a one year low of $161.93 and a one year high of $493.98. The firm has a market cap of $112.42 billion, a P/E ratio of 13.27, a PEG ratio of 0.11 and a beta of 0.53. 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 data on Tuesday, November 3rd. The oil and gas company reported $26.93 EPS for the quarter, beating analysts’ consensus estimates of $25.37 by $1.56. The company had revenue of $56.03 billion during the quarter, compared to analyst estimates of $46.60 billion. Marathon Petroleum had a net margin of 8.27% and a return on equity of 58.93%. Marathon Petroleum’s revenue was up 57.6% compared to the same quarter last year. During the same period last year, the business earned $3.01 earnings per share. As a group, sell-side analysts predict that Marathon Petroleum will post 64.12 EPS for the current fiscal year.

Insider Buying and Selling

In other Marathon Petroleum news, VP Erin M. Brzezinski sold 570 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total value of $206,790.30. Following the completion of the sale, the vice president owned 1,576 shares in the company, valued at approximately $571,757.04. This trade represents a 26.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Shawn Lyon sold 1,000 shares of Marathon Petroleum stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $375.75, for a total value of $375,750.00. Following the completion of the sale, the senior vice president owned 11,194 shares in the company, valued at approximately $4,206,145.50. This represents a 8.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 21,691 shares of company stock valued at $7,780,127 over the last ninety days. 0.17% of the stock is owned by insiders.

Institutional Trading of Marathon Petroleum

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Marathon Petroleum in the 2nd quarter valued at $6,648,958,000. Bank of New York Mellon Corp acquired a new stake in Marathon Petroleum during the 2nd quarter worth $1,029,611,000. Bank of America Corp DE lifted its position in Marathon Petroleum by 1.6% in the first quarter. Bank of America Corp DE now owns 2,595,084 shares of the oil and gas company’s stock valued at $633,668,000 after acquiring an additional 40,124 shares during the last quarter. Amundi lifted its position in Marathon Petroleum by 17.5% in the second quarter. Amundi now owns 2,237,930 shares of the oil and gas company’s stock valued at $572,172,000 after acquiring an additional 332,551 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Marathon Petroleum by 16.7% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,508,489 shares of the oil and gas company’s stock valued at $385,675,000 after acquiring an additional 215,686 shares in the last quarter. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum News Roundup

Here are the key news stories impacting Marathon Petroleum this week:

• Positive Sentiment: MPC reported third-quarter adjusted EPS of $26.93, up nearly 795% year over year and above analysts’ consensus. Strong refining margins and record refinery utilization drove results; the company also said renewable diesel turned profitable and expanded its share-buyback plans. Article: MPC Q3 Earnings Beat Estimates on Strong Refining Margins
• Neutral Sentiment: The company agreed to sell its St. Paul Park and Mandan refineries and related marketing operations to CVR Energy for $4.2 billion, aiming to focus investment on its Gulf Coast business. The transaction provides substantial proceeds but also removes refining assets from MPC’s portfolio; management guided to fourth-quarter throughput of 2.8 million barrels per day. Article: Marathon Petroleum outlines $4.2B Mid-Con divestiture and targets Gulf Coast reinvestment
• Negative Sentiment: MPC fell sharply in the prior session, with reports describing a roughly 7% drop. The listed coverage does not identify a definitive cause, but the selloff indicates investors did not respond positively to the news despite the earnings beat and may be weighing the refinery divestiture or taking profits after a strong run. Article: Marathon Petroleum Drops 7% in a Single Session, Erasing $8 Billion

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE:MPC) is an American downstream energy company engaged in refining, marketing, and transporting petroleum products. Its operations include converting crude oil into gasoline, diesel, jet fuel, asphalt, propane, and other refined products used by transportation, industrial, and commercial customers.

The company markets fuel under the Marathon brand and supplies products to independent marketers, commercial businesses, and other wholesale customers. Marathon Petroleum also owns a general-partner interest and significant limited-partner interest in MPLX Inc, a midstream company that operates pipelines, storage facilities, terminals, and gathering and processing assets supporting the movement of crude oil and natural gas liquids.

Marathon Petroleum’s refining and midstream activities are concentrated in the United States, with assets serving regions across the Midwest, Gulf Coast, and West Coast.