Marathon Petroleum Corporation (NYSE:MPC) was upgraded by equities researchers at Edward Jones from a “hold” rating to a “buy” rating in a research note issued on Friday.
MPC has been the topic of a number of other research reports. BidaskClub lowered Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. Jefferies Group LLC set a $65.00 price target on Marathon Petroleum Corporation and gave the stock a “buy” rating in a report on Friday, August 25th. Zacks Investment Research raised Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Goldman Sachs Group, Inc. (The) lowered Marathon Petroleum Corporation from a “buy” rating to a “neutral” rating and set a $63.00 price target on the stock. in a report on Tuesday, October 3rd. They noted that the move was a valuation call. Finally, Scotiabank set a $55.00 price target on Marathon Petroleum Corporation and gave the stock a “hold” rating in a report on Tuesday, July 11th. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Marathon Petroleum Corporation currently has an average rating of “Buy” and an average target price of $60.27.
Shares of Marathon Petroleum Corporation (NYSE:MPC) opened at 56.02 on Friday. Marathon Petroleum Corporation has a 52 week low of $40.01 and a 52 week high of $56.90. The stock has a market cap of $28.36 billion, a P/E ratio of 33.40 and a beta of 1.56. The stock has a 50 day moving average price of $53.46 and a 200-day moving average price of $52.57.
Marathon Petroleum Corporation (NYSE:MPC) last released its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.01). Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. The company had revenue of $18.35 billion for the quarter, compared to analysts’ expectations of $19.98 billion. During the same period in the prior year, the business earned $1.07 EPS. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. Equities analysts predict that Marathon Petroleum Corporation will post $2.99 EPS for the current fiscal year.
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In other news, VP C. Michael Palmer sold 11,450 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $53.02, for a total transaction of $607,079.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.05% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in MPC. CGOV Asset Management boosted its stake in shares of Marathon Petroleum Corporation by 30.0% during the 1st quarter. CGOV Asset Management now owns 13,000 shares of the oil and gas company’s stock worth $875,000 after acquiring an additional 3,000 shares in the last quarter. Iridian Asset Management LLC CT boosted its stake in shares of Marathon Petroleum Corporation by 209.4% during the 1st quarter. Iridian Asset Management LLC CT now owns 7,707,619 shares of the oil and gas company’s stock worth $389,543,000 after acquiring an additional 5,216,764 shares in the last quarter. Tiedemann Wealth Management LLC boosted its stake in shares of Marathon Petroleum Corporation by 76.5% during the 1st quarter. Tiedemann Wealth Management LLC now owns 18,254 shares of the oil and gas company’s stock worth $923,000 after acquiring an additional 7,914 shares in the last quarter. Blockhouse Capital Management LP purchased a new stake in shares of Marathon Petroleum Corporation during the 1st quarter worth approximately $14,970,000. Finally, Oxford Asset Management purchased a new stake in shares of Marathon Petroleum Corporation during the 1st quarter worth approximately $4,859,000. 78.25% of the stock is currently owned by institutional investors and hedge funds.
About Marathon Petroleum Corporation
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.
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