Marathon Petroleum (NYSE:MPC) Price Target Cut to $170.00 by Analysts at TD Cowen

Marathon Petroleum (NYSE:MPC - Get Free Report) had its price objective decreased by stock analysts at TD Cowen from $174.00 to $170.00 in a research report issued to clients and investors on Wednesday, MarketBeat reports. The brokerage presently has a "buy" rating on the oil and gas company's stock. TD Cowen's price objective indicates a potential upside of 9.54% from the stock's previous close.

A number of other research firms have also weighed in on MPC. Mizuho reduced their price objective on Marathon Petroleum from $198.00 to $193.00 and set a "neutral" rating for the company in a research report on Monday, September 16th. Citigroup cut their target price on Marathon Petroleum from $172.00 to $167.00 and set a "neutral" rating on the stock in a research note on Thursday, October 10th. Wolfe Research assumed coverage on Marathon Petroleum in a research report on Thursday, July 18th. They issued an "outperform" rating and a $200.00 price target for the company. Wells Fargo & Company cut their price objective on shares of Marathon Petroleum from $196.00 to $183.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 9th. Finally, Piper Sandler reduced their price objective on shares of Marathon Petroleum from $168.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $185.67.

Marathon Petroleum Trading Up 3.8 %

NYSE MPC traded up $5.64 during trading on Wednesday, hitting $155.20. The company had a trading volume of 3,093,575 shares, compared to its average volume of 2,406,289. The company's fifty day moving average is $161.30 and its 200-day moving average is $170.32. Marathon Petroleum has a one year low of $140.98 and a one year high of $221.11. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86. The company has a market cap of $51.94 billion, a price-to-earnings ratio of 8.16, a price-to-earnings-growth ratio of 2.77 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.90. The firm had revenue of $35.37 billion for the quarter, compared to the consensus estimate of $34.34 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The business's revenue for the quarter was down 14.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $8.14 EPS. On average, sell-side analysts predict that Marathon Petroleum will post 8.71 earnings per share for the current year.

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

Institutional Investors Weigh In On Marathon Petroleum

Institutional investors have recently added to or reduced their stakes in the stock. Crewe Advisors LLC purchased a new position in shares of Marathon Petroleum during the first quarter valued at about $29,000. MeadowBrook Investment Advisors LLC grew its holdings in Marathon Petroleum by 88.9% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company's stock valued at $28,000 after buying an additional 80 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in Marathon Petroleum in the 3rd quarter worth approximately $30,000. Wellington Shields & Co. LLC purchased a new stake in shares of Marathon Petroleum during the 1st quarter worth approximately $40,000. Finally, TruNorth Capital Management LLC bought a new position in shares of Marathon Petroleum during the 2nd quarter valued at approximately $35,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

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.