JPMorgan Chase & Co. Trims Marathon Petroleum (NYSE:MPC) Target Price to $171.00

Marathon Petroleum (NYSE:MPC) had its price objective lowered by investment analysts at JPMorgan Chase & Co. from $172.00 to $171.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 5.13% from the stock’s previous close.

A number of other research firms have also recently weighed in on MPC. Wells Fargo & Company cut their price objective on shares of Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating on the stock in a research report on Wednesday. Tudor Pickering lowered shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. 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. Mizuho reduced their target price on Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Finally, BMO Capital Markets cut their price target 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. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and an average target price of $195.14.

Marathon Petroleum Price Performance

MPC traded up $2.66 during trading hours on Wednesday, hitting $162.65. The company’s stock had a trading volume of 1,644,273 shares, compared to its average volume of 2,701,236. Marathon Petroleum has a 12 month low of $140.98 and a 12 month 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 business’s 50-day moving average price is $169.35 and its 200-day moving average price is $177.79. The stock has a market cap of $57.31 billion, a price-to-earnings ratio of 8.13, 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. The business had revenue of $38.36 billion for the quarter, compared to the consensus estimate of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business posted $5.32 earnings per share. Sell-side analysts expect that Marathon Petroleum will post 10.56 earnings per share for the current fiscal year.

Institutional Trading of Marathon Petroleum

Several hedge funds have recently modified their holdings of the company. Granite Bay Wealth Management LLC purchased a new stake in Marathon Petroleum during the second quarter valued at approximately $219,537,000. Capital Wealth Planning LLC boosted its position in shares of Marathon Petroleum by 10,902.9% in the 1st quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock worth $223,792,000 after purchasing an additional 1,100,536 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Marathon Petroleum by 980.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 684,718 shares of the oil and gas company’s stock worth $118,785,000 after buying an additional 621,336 shares during the last quarter. Panagora Asset Management Inc. increased its position in Marathon Petroleum by 64.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 619,049 shares of the oil and gas company’s stock valued at $107,393,000 after buying an additional 241,746 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Marathon Petroleum by 8.5% in the second quarter. Pacer Advisors Inc. now owns 2,669,815 shares of the oil and gas company’s stock worth $463,160,000 after acquiring an additional 209,270 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

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.