Marathon Petroleum (NYSE:MPC) Stock Price Target Cut by Mizuho

Marathon Petroleum (NYSE:MPC) had its target price reduced by research analysts at Mizuho from $457.00 to $440.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. Mizuho‘s price objective points to a potential upside of 7.47% from the company’s previous close.

Several other analysts also recently issued reports on MPC. TD Cowen raised their price objective on shares of Marathon Petroleum from $450.00 to $478.00 and gave the stock a “buy” rating in a research note on Thursday, October 22nd. Piper Sandler upped their target price on Marathon Petroleum from $462.00 to $466.00 and gave the company an “overweight” rating in a research note on Thursday, November 5th. Jefferies Financial Group reiterated a “hold” rating and issued a $433.00 price target on shares of Marathon Petroleum in a report on Sunday, October 11th. Barclays raised their price target on Marathon Petroleum from $321.00 to $488.00 and gave the stock an “overweight” rating in a research note on Monday, October 12th. Finally, UBS Group set a $510.00 price objective on Marathon Petroleum in a report on Friday, October 9th. One 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 stock. According to data from MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and a consensus price target of $424.06.

Marathon Petroleum Trading Down 0.8%

Shares of Marathon Petroleum stock traded down $3.45 during trading on Friday, hitting $409.40. The stock had a trading volume of 681,321 shares, compared to its average volume of 2,463,745. The firm’s fifty day simple moving average is $423.34 and its 200-day simple moving average is $299.82. The stock has a market cap of $111.47 billion, a PE ratio of 14.08, a PEG ratio of 0.10 and a beta of 0.53. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.45 and a quick ratio of 1.09. Marathon Petroleum has a 12 month low of $161.93 and a 12 month high of $493.98.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, November 3rd. The oil and gas company reported $26.93 EPS for the quarter, topping analysts’ consensus estimates of $25.37 by $1.56. The firm had revenue of $56.03 billion during the quarter, compared to analysts’ expectations of $46.60 billion. Marathon Petroleum had a net margin of 8.27% and a return on equity of 55.82%. The firm’s revenue for the quarter was up 57.6% compared to the same quarter last year. During the same period in the previous year, the company earned $3.01 EPS. As a group, sell-side analysts expect that Marathon Petroleum will post 66.31 EPS for the current fiscal year.

Insider Transactions at Marathon Petroleum

In other news, VP Erin M. Brzezinski sold 570 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $362.79, for a total transaction of $206,790.30. Following the completion of the sale, the vice president owned 1,576 shares of the company’s stock, valued at approximately $571,757.04. The trade was a 26.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Molly Benson sold 17,196 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $358.57, for a total value of $6,165,969.72. Following the completion of the sale, the insider owned 30,334 shares of the company’s stock, valued at $10,876,862.38. The trade was a 36.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 19,191 shares of company stock valued at $6,905,127. 0.17% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Marathon Petroleum

Several hedge funds have recently made changes to their positions in MPC. BlackRock Inc. bought a new stake in shares of Marathon Petroleum in the second quarter valued at about $6,648,958,000. Bank of New York Mellon Corp purchased a new position in Marathon Petroleum during the 2nd quarter valued at about $1,029,611,000. Bank of America Corp DE increased its position in Marathon Petroleum by 1.6% during the 1st 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 purchasing an additional 40,124 shares during the period. Amundi raised its holdings in shares of Marathon Petroleum by 17.5% in the 2nd quarter. Amundi now owns 2,237,930 shares of the oil and gas company’s stock valued at $572,172,000 after purchasing an additional 332,551 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Marathon Petroleum by 16.7% in the 2nd 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 purchasing an additional 215,686 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation is an integrated downstream energy company focused on refining, marketing, and transporting petroleum products. Its refineries produce fuels and other products, including gasoline, diesel, jet fuel, asphalt, and petrochemical feedstocks. The company sells transportation fuels and related products through a network of branded locations and other wholesale and commercial channels, primarily in the United States. Its midstream operations, conducted largely through its affiliated partnership MPLX, include gathering, processing, and transporting natural gas and natural gas liquids, as well as storing and transporting crude oil and refined products.