Marathon Petroleum (NYSE:MPC) Price Target Raised to $211.00

Marathon Petroleum (NYSE:MPC) had its target price increased by stock analysts at JPMorgan Chase & Co. from $183.00 to $211.00 in a research report issued on Wednesday,MarketScreener reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 5.55% from the stock’s current price.

Several other brokerages have also recently issued reports on MPC. Wall Street Zen upgraded Marathon Petroleum from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Morgan Stanley raised their target price on Marathon Petroleum from $182.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. Raymond James Financial set a $200.00 price objective on Marathon Petroleum in a research note on Tuesday, November 4th. Citigroup raised their price objective on Marathon Petroleum from $144.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Finally, TD Cowen reduced their target price on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Eight investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $201.57.

Marathon Petroleum Trading Up 2.7%

Shares of MPC traded up $5.33 during trading hours on Wednesday, reaching $199.91. The stock had a trading volume of 1,714,335 shares, compared to its average volume of 2,073,921. The firm has a 50-day moving average of $189.65 and a 200 day moving average of $174.02. Marathon Petroleum has a 52 week low of $115.10 and a 52 week high of $202.30. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 1.31. The company has a market cap of $60.09 billion, a P/E ratio of 21.31, a P/E/G ratio of 3.77 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.01. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%.The business had revenue of $34.81 billion for the quarter, compared to analyst estimates of $31.06 billion. On average, sell-side analysts expect that Marathon Petroleum will post 8.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Marathon Petroleum

A number of institutional investors and hedge funds have recently bought and sold shares of MPC. Jump Financial LLC grew its position in Marathon Petroleum by 128.0% during the 1st quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company’s stock worth $1,262,000 after purchasing an additional 4,863 shares during the last quarter. Journey Strategic Wealth LLC raised its position in Marathon Petroleum by 105.0% during the first quarter. Journey Strategic Wealth LLC now owns 8,582 shares of the oil and gas company’s stock valued at $1,250,000 after acquiring an additional 4,396 shares in the last quarter. FSM Wealth Advisors LLC acquired a new position in shares of Marathon Petroleum in the 2nd quarter valued at $685,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Marathon Petroleum by 12.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 578,641 shares of the oil and gas company’s stock worth $84,302,000 after purchasing an additional 64,849 shares during the period. Finally, United Capital Management of KS Inc. raised its stake in shares of Marathon Petroleum by 6.3% during the 1st quarter. United Capital Management of KS Inc. now owns 44,117 shares of the oil and gas company’s stock worth $6,427,000 after buying an additional 2,627 shares during the period. 76.77% of the stock is owned by institutional investors.

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.