Wells Fargo & Company Forecasts Strong Price Appreciation for Marathon Petroleum (NYSE:MPC) Stock

Marathon Petroleum (NYSE:MPC) had its price target increased by equities research analysts at Wells Fargo & Company from $182.00 to $183.00 in a research report issued 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 20.60% from the stock’s previous close.

Several other research firms have also weighed in on MPC. Barclays lowered their price target on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. TD Cowen reaffirmed a “buy” rating and set a $170.00 price target on shares of Marathon Petroleum in a research report on Tuesday, December 10th. JPMorgan Chase & Co. decreased their price objective on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Bank of America assumed coverage on shares of Marathon Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $174.00 target price for the company. Finally, Raymond James boosted their price target on Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $181.27.

Marathon Petroleum Stock Performance

Shares of MPC opened at $151.74 on Wednesday. The firm’s 50 day moving average price is $146.10 and its two-hundred day moving average price is $157.78. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. Marathon Petroleum has a twelve month low of $130.54 and a twelve month high of $221.11. The firm has a market cap of $48.77 billion, a P/E ratio of 12.02, a PEG ratio of 2.77 and a beta of 1.41.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.71. The business had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. Marathon Petroleum’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.98 EPS. On average, analysts forecast that Marathon Petroleum will post 8.88 EPS for the current fiscal year.

Marathon Petroleum announced that its board has authorized a stock buyback plan on Tuesday, November 5th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to buy up to 10% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Marathon Petroleum

In related news, Director Jeffrey C. Campbell bought 6,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was bought at an average price of $149.61 per share, with a total value of $897,660.00. Following the purchase, the director now owns 6,090 shares in the company, valued at approximately $911,124.90. The trade was a 6,666.67 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On Marathon Petroleum

Several hedge funds and other institutional investors have recently modified their holdings of the company. Czech National Bank lifted its position in Marathon Petroleum by 1.5% during the third quarter. Czech National Bank now owns 68,178 shares of the oil and gas company’s stock valued at $11,107,000 after buying an additional 1,038 shares during the period. Dynamic Advisor Solutions LLC increased its stake in shares of Marathon Petroleum by 80.1% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 20,595 shares of the oil and gas company’s stock worth $3,355,000 after acquiring an additional 9,161 shares in the last quarter. Atomi Financial Group Inc. lifted its position in Marathon Petroleum by 68.7% during the 3rd quarter. Atomi Financial Group Inc. now owns 6,710 shares of the oil and gas company’s stock valued at $1,093,000 after acquiring an additional 2,733 shares during the period. Brookstone Capital Management grew its holdings in Marathon Petroleum by 31.8% in the third quarter. Brookstone Capital Management now owns 37,214 shares of the oil and gas company’s stock worth $6,063,000 after purchasing an additional 8,978 shares during the period. Finally, CWM LLC increased its stake in shares of Marathon Petroleum by 20.6% during the third quarter. CWM LLC now owns 19,888 shares of the oil and gas company’s stock valued at $3,240,000 after purchasing an additional 3,399 shares in the last quarter. 76.77% of the stock is owned by 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.