Marathon Petroleum (NYSE:MPC) Given New $183.00 Price Target at Raymond James

Marathon Petroleum (NYSE:MPC - Get Free Report) had its price target lowered by investment analysts at Raymond James from $193.00 to $183.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a "strong-buy" rating on the oil and gas company's stock. Raymond James' price objective would indicate a potential upside of 46.51% from the stock's current price.

MPC has been the subject of several other reports. Barclays increased their target price on shares of Marathon Petroleum from $159.00 to $161.00 and gave the company an "overweight" rating in a research note on Friday, March 14th. Tudor Pickering upgraded Marathon Petroleum from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 4th. Mizuho reduced their price objective on shares of Marathon Petroleum from $175.00 to $174.00 and set a "neutral" rating for the company in a research note on Monday, December 16th. Piper Sandler dropped their target price on shares of Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Finally, TD Cowen restated a "buy" rating and set a $170.00 price target on shares of Marathon Petroleum in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Marathon Petroleum presently has an average rating of "Moderate Buy" and a consensus price target of $177.21.

Marathon Petroleum Price Performance

Shares of Marathon Petroleum stock traded up $1.48 on Wednesday, hitting $124.91. The company had a trading volume of 1,213,529 shares, compared to its average volume of 2,684,838. Marathon Petroleum has a 52 week low of $115.10 and a 52 week high of $210.80. The company has a market cap of $38.91 billion, a PE ratio of 12.58, a PEG ratio of 3.11 and a beta of 1.04. The business has a 50-day simple moving average of $143.65 and a 200-day simple moving average of $148.71. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.71. The company had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The company's quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.98 EPS. Research analysts expect that Marathon Petroleum will post 8.47 EPS for the current fiscal year.

Insider Activity at Marathon Petroleum

In related news, insider Ricky D. Hessling purchased 2,000 shares of Marathon Petroleum stock in a transaction on Tuesday, March 11th. The stock was bought at an average price of $134.72 per share, with a total value of $269,440.00. Following the completion of the transaction, the insider now directly owns 12,162 shares of the company's stock, valued at approximately $1,638,464.64. This represents a 19.68 % 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. Also, Director Evan Bayh acquired 1,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were bought at an average cost of $133.70 per share, for a total transaction of $133,700.00. Following the acquisition, the director now owns 69,305 shares in the company, valued at $9,266,078.50. The trade was a 1.46 % increase in their position. The disclosure for this purchase can be found here. 0.21% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Marathon Petroleum

Several institutional investors and hedge funds have recently added to or reduced their stakes in MPC. Wellington Management Group LLP raised its position in shares of Marathon Petroleum by 78.1% in the fourth quarter. Wellington Management Group LLP now owns 9,961,503 shares of the oil and gas company's stock valued at $1,389,630,000 after purchasing an additional 4,367,774 shares during the period. Bank of New York Mellon Corp grew its stake in Marathon Petroleum by 7.0% in the 4th quarter. Bank of New York Mellon Corp now owns 4,803,951 shares of the oil and gas company's stock valued at $670,151,000 after buying an additional 315,786 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Marathon Petroleum by 11.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,399,977 shares of the oil and gas company's stock worth $613,624,000 after acquiring an additional 452,043 shares during the period. Demars Financial Group LLC lifted its position in Marathon Petroleum by 16,338.3% during the 4th quarter. Demars Financial Group LLC now owns 4,177,133 shares of the oil and gas company's stock worth $582,710,000 after acquiring an additional 4,151,722 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Marathon Petroleum by 14.0% during the fourth quarter. Northern Trust Corp now owns 3,937,348 shares of the oil and gas company's stock valued at $549,260,000 after acquiring an additional 484,438 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.

About Marathon Petroleum

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.