UBS Lowers Marathon Petroleum (MPC) to Neutral

Marathon Petroleum (NYSE:MPC) was downgraded by analysts at UBS from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday, November 15th, 99wallstreet.com reports. They presently have a $65.00 target price on the oil and gas company’s stock, up from their prior target price of $63.00. UBS’s target price would suggest a potential upside of 3.44% from the company’s previous close.

Other analysts have also issued reports about the company. Cowen reaffirmed a “buy” rating on shares of Marathon Petroleum in a research report on Tuesday, November 14th. Barclays boosted their target price on Marathon Petroleum from $63.00 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, November 14th. Zacks Investment Research raised Marathon Petroleum from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research report on Friday, November 10th. Citigroup boosted their target price on Marathon Petroleum from $67.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, October 18th. Finally, Edward Jones raised Marathon Petroleum from a “hold” rating to a “buy” rating in a report on Friday, October 6th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $65.54.

Marathon Petroleum (NYSE:MPC) opened at $62.84 on Wednesday. The company has a market capitalization of $30,691.81, a PE ratio of 19.10, a price-to-earnings-growth ratio of 1.55 and a beta of 1.61. Marathon Petroleum has a twelve month low of $46.88 and a twelve month high of $63.41. The company has a current ratio of 1.52, a quick ratio of 0.80 and a debt-to-equity ratio of 0.64.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Thursday, October 26th. The oil and gas company reported $1.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.29. Marathon Petroleum had a return on equity of 8.52% and a net margin of 2.35%. The firm had revenue of $19.36 billion for the quarter, compared to the consensus estimate of $19.38 billion. During the same period in the previous year, the business earned $0.58 EPS. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. equities analysts anticipate that Marathon Petroleum will post 3.8 earnings per share for the current fiscal year.

In related news, VP C. Michael Palmer sold 11,450 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $53.02, for a total value of $607,079.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Anthony R. Kenney sold 77,578 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $62.35, for a total value of $4,836,988.30. The disclosure for this sale can be found here. Insiders sold a total of 102,028 shares of company stock worth $6,253,447 in the last 90 days. Company insiders own 1.05% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Steward Partners Investment Advisory LLC bought a new position in shares of Marathon Petroleum in the third quarter worth $1,286,000. Tortoise Capital Advisors L.L.C. increased its holdings in shares of Marathon Petroleum by 3.5% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 44,950 shares of the oil and gas company’s stock worth $2,521,000 after purchasing an additional 1,524 shares during the period. Americafirst Capital Management LLC bought a new position in shares of Marathon Petroleum in the third quarter worth $332,000. Belpointe Asset Management LLC bought a new position in shares of Marathon Petroleum in the third quarter worth $517,000. Finally, FrontFour Capital Group LLC bought a new position in shares of Marathon Petroleum in the third quarter worth $552,000. 80.83% of the stock is currently owned by institutional investors and hedge funds.

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About Marathon Petroleum

Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.

Analyst Recommendations for Marathon Petroleum (NYSE:MPC)

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