Marathon Petroleum (NYSE:MPC) Price Target Cut to $185.00

Marathon Petroleum (NYSE:MPC) had its price objective decreased by stock analysts at Barclays from $195.00 to $185.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. Barclays‘s price objective would indicate a potential upside of 6.19% from the company’s current price.

Several other research analysts have also recently weighed in on the company. Wells Fargo & Company decreased their price target on Marathon Petroleum from $227.00 to $223.00 and set an “overweight” rating for the company in a research note on Thursday, June 6th. Bank of America raised their price target on shares of Marathon Petroleum from $185.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Raymond James decreased their price objective on shares of Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating for the company in a report on Thursday, May 30th. The Goldman Sachs Group raised their target price on shares of Marathon Petroleum from $175.00 to $211.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, Scotiabank boosted their target price on shares of Marathon Petroleum from $175.00 to $207.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $191.31.

Marathon Petroleum Stock Down 0.3 %

Shares of NYSE:MPC opened at $174.22 on Monday. The firm has a market capitalization of $61.38 billion, a P/E ratio of 8.68, a P/E/G ratio of 1.62 and a beta of 1.40. The stock has a 50 day moving average price of $178.24 and a 200-day moving average price of $176.13. Marathon Petroleum has a 52-week low of $112.82 and a 52-week high of $221.11. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 1.43.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.25. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The firm had revenue of $32.71 billion for the quarter, compared to analysts’ expectations of $32.07 billion. During the same period in the prior year, the firm posted $6.09 earnings per share. The company’s quarterly revenue was down 6.2% on a year-over-year basis. As a group, equities research analysts anticipate that Marathon Petroleum will post 17.85 EPS for the current fiscal year.

Marathon Petroleum announced that its Board of Directors has initiated a share repurchase plan on Tuesday, April 30th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the oil and gas company to repurchase up to 7.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Marathon Petroleum

Several institutional investors and hedge funds have recently modified their holdings of MPC. Norges Bank purchased a new position in shares of Marathon Petroleum during the fourth quarter valued at about $500,685,000. Capital Wealth Planning LLC increased its stake in 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 acquiring an additional 1,100,536 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Marathon Petroleum by 256.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 884,573 shares of the oil and gas company’s stock valued at $131,235,000 after acquiring an additional 636,281 shares during the last quarter. Schroder Investment Management Group grew its holdings in shares of Marathon Petroleum by 309.9% in the fourth quarter. Schroder Investment Management Group now owns 643,590 shares of the oil and gas company’s stock valued at $95,483,000 after purchasing an additional 486,573 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in Marathon Petroleum by 248.1% in the fourth quarter. International Assets Investment Management LLC now owns 608,888 shares of the oil and gas company’s stock worth $90,335,000 after purchasing an additional 433,977 shares during 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.