Marathon Petroleum (NYSE:MPC) Price Target Raised to $260.00 at Bank of America

Marathon Petroleum (NYSE:MPC) had its price target raised by Bank of America from $224.00 to $260.00 in a research note issued to investors on Tuesday,MarketScreener reports. Bank of America‘s price target suggests a potential upside of 1.05% from the stock’s previous close.

MPC has been the subject of several other reports. BMO Capital Markets upped their target price on Marathon Petroleum from $255.00 to $290.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Zacks Research raised Marathon Petroleum from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 7th. Jefferies Financial Group upped their price objective on Marathon Petroleum from $263.00 to $279.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Wall Street Zen upgraded Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. Finally, Mizuho increased their target price on shares of Marathon Petroleum from $205.00 to $224.00 and gave the stock a “neutral” rating in a report on Tuesday, March 17th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus target price of $264.75.

Marathon Petroleum Price Performance

MPC traded up $2.64 on Tuesday, hitting $257.29. 291,993 shares of the stock were exchanged, compared to its average volume of 2,475,241. The firm has a market capitalization of $75.11 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 0.33 and a beta of 0.53. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73. Marathon Petroleum has a 12 month low of $155.93 and a 12 month high of $264.14. The business has a 50-day moving average of $238.83 and a two-hundred day moving average of $206.18.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, beating the consensus estimate of $0.74 by $0.91. The firm had revenue of $34.20 billion for the quarter, compared to analyst estimates of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.24) EPS. Sell-side analysts forecast that Marathon Petroleum will post 29.67 EPS for the current fiscal year.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, insider Ricky D. Hessling sold 1,810 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $224.78, for a total value of $406,851.80. Following the completion of the transaction, the insider owned 10,188 shares of the company’s stock, valued at $2,290,058.64. This represents a 15.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders sold 4,473 shares of company stock valued at $1,015,428. 0.17% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new position in Marathon Petroleum in the 4th quarter valued at approximately $472,312,000. Capital Wealth Planning LLC increased its position in Marathon Petroleum by 49,392.0% in the 4th quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock valued at $245,157,000 after acquiring an additional 1,495,097 shares during the period. Pacer Advisors Inc. increased its position in Marathon Petroleum by 3,816.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company’s stock valued at $212,517,000 after acquiring an additional 1,273,386 shares during the period. GHE LLC raised its stake in shares of Marathon Petroleum by 1,939.8% during the first quarter. GHE LLC now owns 649,542 shares of the oil and gas company’s stock valued at $158,605,000 after acquiring an additional 617,699 shares during the last quarter. Finally, Man Group plc lifted its holdings in shares of Marathon Petroleum by 2,175.0% during the fourth quarter. Man Group plc now owns 568,790 shares of the oil and gas company’s stock worth $92,502,000 after purchasing an additional 543,788 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

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.