Marathon Petroleum (MPC) Stock Rating Reaffirmed by Piper Jaffray Companies

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Piper Jaffray Companies reissued their overweight rating on shares of Marathon Petroleum (NYSE:MPC) in a research note released on Thursday, MarketBeat reports. Piper Jaffray Companies also issued estimates for Marathon Petroleum’s Q2 2020 earnings at $3.06 EPS and Q3 2020 earnings at $2.91 EPS.

MPC has been the topic of several other research reports. Morgan Stanley set a $110.00 target price on Marathon Petroleum and gave the stock a buy rating in a research report on Friday, October 12th. Zacks Investment Research lowered Marathon Petroleum from a buy rating to a hold rating in a research report on Friday, October 19th. Cowen reissued an outperform rating and set a $101.00 target price (up previously from $87.00) on shares of Marathon Petroleum in a research report on Thursday, December 6th. They noted that the move was a valuation call. Barclays started coverage on Marathon Petroleum in a research report on Wednesday, October 3rd. They set an overweight rating and a $125.00 target price on the stock. Finally, Citigroup raised their price target on Marathon Petroleum from $100.00 to $110.00 and gave the stock a buy rating in a research note on Tuesday, October 16th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Marathon Petroleum has an average rating of Buy and an average target price of $94.21.

MPC stock opened at $64.87 on Thursday. The company has a current ratio of 1.65, a quick ratio of 1.09 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $44.37 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 0.57 and a beta of 1.35. Marathon Petroleum has a 1 year low of $54.29 and a 1 year high of $88.45.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Thursday, November 1st. The oil and gas company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.02. Marathon Petroleum had a return on equity of 12.28% and a net margin of 4.48%. The company had revenue of $23.13 billion for the quarter, compared to analyst estimates of $23.20 billion. During the same quarter last year, the company earned $1.77 EPS. Marathon Petroleum’s revenue for the quarter was up 19.3% compared to the same quarter last year. Equities analysts forecast that Marathon Petroleum will post 5.13 EPS for the current fiscal year.

In related news, Director Steven A. Davis bought 3,500 shares of the stock in a transaction on Friday, December 14th. The shares were bought at an average cost of $62.14 per share, for a total transaction of $217,490.00. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven A. Davis bought 2,500 shares of the stock in a transaction on Monday, November 19th. The stock was bought at an average price of $62.20 per share, for a total transaction of $155,500.00. Following the completion of the purchase, the director now directly owns 16,462 shares in the company, valued at approximately $1,023,936.40. The disclosure for this purchase can be found here. Company insiders own 1.09% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Csenge Advisory Group purchased a new stake in shares of Marathon Petroleum in the third quarter valued at approximately $82,000. Rational Advisors LLC boosted its stake in shares of Marathon Petroleum by 282.4% in the third quarter. Rational Advisors LLC now owns 1,480 shares of the oil and gas company’s stock valued at $118,000 after buying an additional 1,093 shares in the last quarter. NEXT Financial Group Inc purchased a new stake in shares of Marathon Petroleum in the third quarter valued at approximately $124,000. Columbia Asset Management purchased a new stake in shares of Marathon Petroleum in the third quarter valued at approximately $156,000. Finally, Belpointe Asset Management LLC purchased a new stake in shares of Marathon Petroleum in the third quarter valued at approximately $164,000. Institutional investors own 83.16% of the company’s stock.

About Marathon Petroleum

Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing, Speedway and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.

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Analyst Recommendations for Marathon Petroleum (NYSE:MPC)

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