Marathon Petroleum (MPC) Hits New 52-Week High and Low Following Analyst Upgrade

Marathon Petroleum Co. (NYSE:MPC) shares reached a new 52-week high and low during trading on Monday after Morgan Stanley raised their price target on the stock from $85.00 to $95.00. Morgan Stanley currently has an overweight rating on the stock. Marathon Petroleum traded as low as $76.92 and last traded at $77.38, with a volume of 1888912 shares trading hands. The stock had previously closed at $74.59.

A number of other brokerages have also recently issued reports on MPC. JPMorgan Chase lowered their price objective on Marathon Petroleum from $90.00 to $86.00 and set an “overweight” rating for the company in a research note on Monday, April 9th. Zacks Investment Research upgraded Marathon Petroleum from a “hold” rating to a “strong-buy” rating and set a $81.00 price objective for the company in a research note on Tuesday, January 16th. Citigroup lifted their price objective on Marathon Petroleum from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, March 13th. Wells Fargo reiterated a “market perform” rating and set a $66.00 price objective (down previously from $72.00) on shares of Marathon Petroleum in a research note on Thursday, March 15th. They noted that the move was a valuation call. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $89.00 price objective on shares of Marathon Petroleum in a research note on Tuesday, January 30th. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Marathon Petroleum presently has a consensus rating of “Buy” and a consensus target price of $80.80.

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In other news, Director Charles E. Bunch acquired 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The stock was bought at an average price of $67.38 per share, with a total value of $101,070.00. Following the completion of the acquisition, the director now directly owns 12,853 shares of the company’s stock, valued at approximately $866,035.14. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas M. Kelley sold 20,000 shares of Marathon Petroleum stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $69.77, for a total value of $1,395,400.00. The disclosure for this sale can be found here. 1.09% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of MPC. Vident Investment Advisory LLC bought a new stake in shares of Marathon Petroleum in the third quarter worth $414,000. Point72 Asset Management L.P. lifted its position in Marathon Petroleum by 114.3% during the third quarter. Point72 Asset Management L.P. now owns 50,000 shares of the oil and gas company’s stock valued at $2,804,000 after purchasing an additional 400,000 shares in the last quarter. Prudential Financial Inc. lifted its position in Marathon Petroleum by 61.6% during the third quarter. Prudential Financial Inc. now owns 3,987,706 shares of the oil and gas company’s stock valued at $223,630,000 after purchasing an additional 1,520,471 shares in the last quarter. Polianta Ltd purchased a new position in Marathon Petroleum during the fourth quarter valued at $1,385,000. Finally, Chesley Taft & Associates LLC lifted its position in Marathon Petroleum by 2.6% during the fourth quarter. Chesley Taft & Associates LLC now owns 160,253 shares of the oil and gas company’s stock valued at $10,573,000 after purchasing an additional 4,062 shares in the last quarter. 80.30% of the stock is owned by institutional investors.

The stock has a market cap of $35,509.29, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 1.12 and a beta of 1.33. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.28 and a quick ratio of 0.75.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Thursday, February 1st. The oil and gas company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.05. The company had revenue of $21.24 billion for the quarter, compared to the consensus estimate of $17.27 billion. Marathon Petroleum had a return on equity of 9.90% and a net margin of 4.60%. Marathon Petroleum’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.43 earnings per share. analysts expect that Marathon Petroleum Co. will post 4.59 EPS for the current fiscal year.

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About Marathon Petroleum

Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.

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