Marathon Petroleum (NYSE:MPC) Price Target Raised to $192.00

Marathon Petroleum (NYSE:MPC - Get Free Report) had its price target boosted by equities research analysts at Raymond James from $190.00 to $192.00 in a report released on Friday,Benzinga reports. The brokerage presently has a "strong-buy" rating on the oil and gas company's stock. Raymond James' price target suggests a potential upside of 25.63% from the stock's previous close.

Other equities research analysts also recently issued research reports about the stock. TD Cowen reaffirmed a "buy" rating and set a $170.00 price objective on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Mizuho dropped their price target on Marathon Petroleum from $175.00 to $174.00 and set a "neutral" rating on the stock in a research report on Monday, December 16th. Piper Sandler lowered their price objective on Marathon Petroleum from $168.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, September 20th. Wells Fargo & Company reduced their price target on shares of Marathon Petroleum from $186.00 to $182.00 and set an "overweight" rating for the company in a report on Friday, January 10th. Finally, Citigroup cut their price objective on shares of Marathon Petroleum from $172.00 to $167.00 and set a "neutral" rating on the stock in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $181.20.

Marathon Petroleum Stock Up 0.7 %

Shares of MPC stock traded up $1.13 during trading hours on Friday, hitting $152.83. 2,479,994 shares of the company were exchanged, compared to its average volume of 2,802,449. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The business's 50-day simple moving average is $147.76 and its two-hundred day simple moving average is $159.31. Marathon Petroleum has a one year low of $130.54 and a one year high of $221.11. The stock has a market capitalization of $49.12 billion, a price-to-earnings ratio of 12.11, a P/E/G ratio of 2.51 and a beta of 1.42.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.90. The business had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. During the same period in the prior year, the company posted $8.14 EPS. The business's revenue was down 14.9% compared to the same quarter last year. Sell-side analysts predict that Marathon Petroleum will post 9.38 EPS for the current fiscal year.

Marathon Petroleum declared that its board has authorized a share buyback program on Tuesday, November 5th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Jeffrey C. Campbell purchased 6,000 shares of Marathon Petroleum stock in a transaction on Wednesday, December 4th. The stock was bought at an average price of $149.61 per share, with a total value of $897,660.00. Following the completion of the transaction, the director now directly owns 6,090 shares of the company's stock, valued at approximately $911,124.90. This represents a 6,666.67 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is owned by corporate insiders.

Institutional Trading of Marathon Petroleum

Several hedge funds have recently added to or reduced their stakes in the business. Gladius Capital Management LP bought a new position in shares of Marathon Petroleum during the 3rd quarter worth about $26,000. MeadowBrook Investment Advisors LLC increased its stake in Marathon Petroleum by 88.9% during the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company's stock valued at $28,000 after acquiring an additional 80 shares during the period. True Wealth Design LLC lifted its position in shares of Marathon Petroleum by 672.7% in the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company's stock worth $28,000 after acquiring an additional 148 shares during the period. Harbor Capital Advisors Inc. bought a new stake in shares of Marathon Petroleum in the 3rd quarter worth approximately $30,000. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Marathon Petroleum during the 3rd quarter worth approximately $33,000. Institutional investors own 76.77% of the company's stock.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.