Marathon Petroleum (NYSE:MPC) Downgraded by Raymond James Financial to "Outperform"

Marathon Petroleum (NYSE:MPC — Get Free Report) was downgraded by equities researchers at Raymond James Financial from a “strong-buy” rating to an “outperform” rating in a report released on Tuesday,Briefing.com Automated Import reports. They presently have a $200.00 target price on the oil and gas company’s stock. Raymond James Financial’s price objective points to a potential upside of 13.87% from the stock’s current price.

Several other brokerages also recently commented on MPC. Morgan Stanley reduced their target price on shares of Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Wall Street Zen upgraded Marathon Petroleum from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. UBS Group raised their target price on shares of Marathon Petroleum from $175.00 to $203.00 and gave the stock a “buy” rating in a report on Thursday, July 10th. TD Cowen upped their price target on shares of Marathon Petroleum from $152.00 to $163.00 and gave the stock a “buy” rating in a report on Tuesday, June 10th. Finally, Wells Fargo & Company increased their price target on Marathon Petroleum from $182.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $185.13.

Read Our Latest Stock Analysis on MPC

Marathon Petroleum Trading Down 2.3%

Shares of Marathon Petroleum stock opened at $175.64 on Tuesday. Marathon Petroleum has a fifty-two week low of $115.10 and a fifty-two week high of $183.31. The business’s fifty day moving average is $164.39 and its two-hundred day moving average is $150.38. The firm has a market cap of $53.96 billion, a PE ratio of 24.70, a P/E/G ratio of 3.59 and a beta of 0.88. 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 released its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. The business had revenue of $31.85 billion during the quarter, compared to analyst estimates of $28.91 billion. During the same quarter in the previous year, the firm posted $2.58 EPS. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. Analysts anticipate that Marathon Petroleum will post 8.47 earnings per share for the current year.

Insider Activity at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the transaction, the director owned 18,944 shares in the company, valued at approximately $3,315,200. The trade was a 28.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On Marathon Petroleum

A number of hedge funds have recently made changes to their positions in MPC. Cambridge Financial Group Inc. bought a new stake in Marathon Petroleum in the fourth quarter valued at approximately $5,624,000. Good Steward Wealth Advisors LLC acquired a new stake in Marathon Petroleum during the first quarter worth approximately $346,000. New Age Alpha Advisors LLC bought a new stake in shares of Marathon Petroleum in the fourth quarter valued at about $1,192,000. Silver Oak Securities Incorporated bought a new position in Marathon Petroleum during the 1st quarter worth $339,000. Finally, Groupama Asset Managment lifted its position in Marathon Petroleum by 49.6% during the fourth quarter. Groupama Asset Managment now owns 18,738 shares of the oil and gas company’s stock worth $2,541,000 after purchasing an additional 6,214 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

About Marathon Petroleum

(Get Free Report)

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.

Further Reading

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