Marathon Petroleum (NYSE:MPC) Coverage Initiated by Analysts at Evercore ISI
Investment analysts at Evercore ISI initiated coverage on shares of Marathon Petroleum (NYSE:MPC — Get Free Report) in a report issued on Wednesday,Briefing.com Automated Import reports. The firm set an “inline” rating and a $170.00 price target on the oil and gas company’s stock. Evercore ISI’s price target would indicate a potential downside of 0.04% from the stock’s previous close.
A number of other equities analysts have also recently commented on the company. Barclays lifted their price target on Marathon Petroleum from $141.00 to $159.00 and gave the stock an “overweight” rating in a report on Monday, May 12th. Wall Street Zen upgraded Marathon Petroleum from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. TD Cowen raised their price target on Marathon Petroleum from $152.00 to $163.00 and gave the company a “buy” rating in a report on Tuesday, June 10th. Raymond James Financial decreased their price objective on shares of Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 9th. Finally, Scotiabank cut their target price on shares of Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating for the company in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $175.80.
View Our Latest Research Report on MPC
Marathon Petroleum Trading Up 2.0%
NYSE:MPC opened at $170.07 on Wednesday. The company has a market cap of $52.25 billion, a P/E ratio of 23.92, a price-to-earnings-growth ratio of 3.29 and a beta of 0.89. Marathon Petroleum has a twelve month low of $115.10 and a twelve month high of $183.31. The business has a 50 day moving average price of $149.22 and a two-hundred day moving average price of $146.55. The company has a quick ratio of 0.73, a current ratio of 1.19 and a debt-to-equity ratio of 1.16.
Marathon Petroleum (NYSE:MPC — Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.16. The firm had revenue of $31.85 billion for the quarter, compared to analyst estimates of $28.91 billion. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The company’s revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.58 EPS. As a group, analysts expect that Marathon Petroleum will post 8.47 EPS for the current fiscal year.
Institutional Investors Weigh In On Marathon Petroleum
Several institutional investors have recently bought and sold shares of MPC. Vanguard Group Inc. boosted its stake in shares of Marathon Petroleum by 12.3% in the 1st quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company’s stock worth $5,090,611,000 after buying an additional 3,834,501 shares during the last quarter. Wellington Management Group LLP grew its stake in Marathon Petroleum by 18.7% in the 1st quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock valued at $1,722,664,000 after purchasing an additional 1,862,674 shares during the period. Raymond James Financial Inc. increased its position in shares of Marathon Petroleum by 6.3% during the 1st quarter. Raymond James Financial Inc. now owns 6,037,532 shares of the oil and gas company’s stock valued at $879,608,000 after purchasing an additional 355,215 shares during the last quarter. Boston Partners raised its stake in shares of Marathon Petroleum by 58.5% during the 1st quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock worth $791,274,000 after purchasing an additional 2,011,810 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Marathon Petroleum by 3.7% in the 1st quarter. Bank of New York Mellon Corp now owns 4,982,348 shares of the oil and gas company’s stock worth $725,878,000 after buying an additional 178,397 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.
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.
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