Marathon Petroleum (NYSE:MPC) PT Lowered to $145.00

Marathon Petroleum (NYSE:MPC) had its price target decreased by Piper Sandler from $168.00 to $145.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the oil and gas company’s stock. Piper Sandler’s target price would suggest a potential downside of 10.33% from the company’s current price.

MPC has been the topic of a number of other reports. Wells Fargo & Company dropped their target price on shares of Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. StockNews.com lowered shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Jefferies Financial Group upped their price objective on shares of Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Tudor Pickering downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. Finally, Barclays decreased their price target on Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday, July 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $197.69.

Marathon Petroleum Stock Down 2.8 %

Shares of MPC stock traded down $4.64 during trading hours on Friday, reaching $161.71. The company had a trading volume of 654,710 shares, compared to its average volume of 2,610,931. The stock’s fifty day simple moving average is $170.01 and its 200 day simple moving average is $179.84. The company has a market capitalization of $56.98 billion, a P/E ratio of 8.08, a price-to-earnings-growth ratio of 2.09 and a beta of 1.38. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31. Marathon Petroleum has a twelve month low of $139.32 and a twelve month high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The business had revenue of $38.36 billion for the quarter, compared to analysts’ expectations of $36.66 billion. During the same period in the previous year, the company posted $5.32 earnings per share. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, sell-side analysts expect that Marathon Petroleum will post 12.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MPC. Heritage Wealth Management Inc. acquired a new position in Marathon Petroleum during the second quarter worth $1,691,000. Sanctuary Advisors LLC acquired a new stake in Marathon Petroleum in the second quarter worth about $26,017,000. Gordian Capital Singapore Pte Ltd bought a new stake in Marathon Petroleum during the 2nd quarter worth about $494,000. 3Chopt Investment Partners LLC grew its position in shares of Marathon Petroleum by 0.8% during the 2nd quarter. 3Chopt Investment Partners LLC now owns 10,215 shares of the oil and gas company’s stock worth $1,772,000 after buying an additional 77 shares during the period. Finally, SPC Financial Inc. raised its stake in shares of Marathon Petroleum by 3.0% during the second quarter. SPC Financial Inc. now owns 26,279 shares of the oil and gas company’s stock worth $4,559,000 after buying an additional 756 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

About Marathon Petroleum

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.