JPMorgan Chase & Co. Has Lowered Expectations for Marathon Petroleum (NYSE:MPC) Stock Price

Marathon Petroleum (NYSE:MPC) had its price objective lowered by equities research analysts at JPMorgan Chase & Co. from $211.00 to $179.00 in a report released on Tuesday,MarketScreener reports. The firm presently has a “neutral” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 1.02% from the company’s current price.

Several other analysts also recently issued reports on MPC. Barclays reduced their price target on shares of Marathon Petroleum from $202.00 to $194.00 and set an “overweight” rating for the company in a research report on Tuesday. BMO Capital Markets reiterated an “outperform” rating on shares of Marathon Petroleum in a report on Tuesday, December 9th. Piper Sandler decreased their target price on shares of Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Morgan Stanley raised their price target on shares of Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, October 3rd. Finally, Wall Street Zen downgraded Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $196.79.

Marathon Petroleum Trading Down 2.1%

NYSE MPC traded down $3.89 during trading hours on Tuesday, hitting $177.20. 2,003,971 shares of the company’s stock were exchanged, compared to its average volume of 2,602,306. The firm has a market cap of $53.27 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 0.70 and a beta of 0.74. The stock has a 50-day simple moving average of $182.49 and a 200 day simple moving average of $180.56. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 1.31. Marathon Petroleum has a 1-year low of $115.10 and a 1-year high of $202.29.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.00 by $0.01. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. The company had revenue of $34.81 billion for the quarter, compared to analysts’ expectations of $31.06 billion. On average, equities analysts forecast that Marathon Petroleum will post 8.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Marathon Petroleum

Hedge funds have recently made changes to their positions in the business. Concord Asset Management LLC VA bought a new stake in Marathon Petroleum during the 2nd quarter valued at $412,000. Los Angeles Capital Management LLC boosted its holdings in shares of Marathon Petroleum by 459.5% in the second quarter. Los Angeles Capital Management LLC now owns 189,973 shares of the oil and gas company’s stock worth $31,556,000 after acquiring an additional 156,019 shares during the period. FSM Wealth Advisors LLC purchased a new position in shares of Marathon Petroleum in the second quarter valued at $685,000. Generali Asset Management SPA SGR raised its stake in shares of Marathon Petroleum by 36.8% during the 3rd quarter. Generali Asset Management SPA SGR now owns 41,225 shares of the oil and gas company’s stock valued at $7,946,000 after purchasing an additional 11,082 shares during the period. Finally, Greatmark Investment Partners Inc. lifted its holdings in Marathon Petroleum by 2.9% during the 2nd quarter. Greatmark Investment Partners Inc. now owns 168,603 shares of the oil and gas company’s stock worth $28,007,000 after purchasing an additional 4,820 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.