Marathon Petroleum (NYSE:MPC) Price Target Cut to $183.00

Marathon Petroleum (NYSE:MPC) had its target price decreased by research analysts at Wells Fargo & Company from $196.00 to $183.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 13.17% from the stock’s previous close.

MPC has been the topic of several other research reports. BMO Capital Markets lowered their target price on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. TD Cowen boosted their price target on shares of Marathon Petroleum from $187.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Barclays cut their price objective on Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a research report on Monday, July 1st. Tudor, Pickering, Holt & Co. lowered Marathon Petroleum from a “buy” rating to a “sell” rating in a research note on Monday, September 9th. Finally, Tudor Pickering downgraded Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 9th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $195.21.

Marathon Petroleum Price Performance

Shares of MPC traded up $1.71 during trading hours on Wednesday, reaching $161.70. 607,411 shares of the stock traded hands, compared to its average volume of 2,695,918. Marathon Petroleum has a 52-week low of $140.98 and a 52-week high of $221.11. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86. The company has a market cap of $56.97 billion, a P/E ratio of 8.08, a price-to-earnings-growth ratio of 2.59 and a beta of 1.37. The company’s 50-day moving average price is $169.35 and its two-hundred day moving average price is $177.79.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The firm had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. During the same quarter in the prior year, the company posted $5.32 earnings per share. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, analysts anticipate that Marathon Petroleum will post 10.56 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MPC. NBC Securities Inc. boosted its holdings in Marathon Petroleum by 0.9% during the 1st quarter. NBC Securities Inc. now owns 6,333 shares of the oil and gas company’s stock valued at $1,276,000 after acquiring an additional 55 shares during the period. Guidance Capital Inc. grew its holdings in shares of Marathon Petroleum by 1.1% in the first quarter. Guidance Capital Inc. now owns 5,483 shares of the oil and gas company’s stock worth $1,135,000 after purchasing an additional 57 shares during the last quarter. WR Wealth Planners LLC lifted its holdings in Marathon Petroleum by 15.2% during the 2nd quarter. WR Wealth Planners LLC now owns 431 shares of the oil and gas company’s stock valued at $75,000 after buying an additional 57 shares in the last quarter. Bruce G. Allen Investments LLC boosted its position in Marathon Petroleum by 27.3% in the 1st quarter. Bruce G. Allen Investments LLC now owns 275 shares of the oil and gas company’s stock valued at $55,000 after buying an additional 59 shares during the period. Finally, First Financial Corp IN grew its stake in Marathon Petroleum by 2.5% in the 1st quarter. First Financial Corp IN now owns 2,429 shares of the oil and gas company’s stock worth $489,000 after acquiring an additional 59 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Company Profile

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.