Scotiabank Lowers Marathon Petroleum (NYSE:MPC) Price Target to $170.00

Marathon Petroleum (NYSE:MPC) had its target price decreased by Scotiabank from $191.00 to $170.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “sector outperform” rating on the oil and gas company’s stock. Scotiabank’s target price points to a potential upside of 2.16% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Barclays dropped their price objective on Marathon Petroleum from $180.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday. JPMorgan Chase & Co. reduced their price target on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a research report on Wednesday. Morgan Stanley dropped their price objective on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Jefferies Financial Group increased their target price 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. Finally, StockNews.com downgraded shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.43.

Marathon Petroleum Trading Up 2.3 %

Shares of NYSE:MPC traded up $3.79 during midday trading on Thursday, reaching $166.40. 838,638 shares of the company’s stock were exchanged, compared to its average volume of 2,694,484. The firm’s 50 day simple moving average is $169.06 and its two-hundred day simple moving average is $177.68. Marathon Petroleum has a fifty-two week low of $140.98 and a fifty-two week high of $221.11. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90. The stock has a market cap of $58.63 billion, a price-to-earnings ratio of 8.29, a P/E/G ratio of 2.59 and a beta of 1.37.

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

Institutional Investors Weigh In On Marathon Petroleum

Institutional investors and hedge funds have recently bought and sold shares of the stock. FinTrust Capital Advisors LLC increased its position in Marathon Petroleum by 400.0% during the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock worth $25,000 after buying an additional 100 shares during the period. Crewe Advisors LLC purchased a new stake in Marathon Petroleum in the 1st quarter valued at $29,000. Vima LLC acquired a new stake in Marathon Petroleum during the 4th quarter worth $30,000. TruNorth Capital Management LLC purchased a new position in Marathon Petroleum during the 2nd quarter worth $35,000. Finally, Industrial Alliance Investment Management Inc. acquired a new position in Marathon Petroleum in the second quarter valued at $35,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

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.