Barclays PLC Increases Marathon Petroleum Corporation (MPC) Price Target to $76.00

Marathon Petroleum Corporation (NYSE:MPC) had its price objective upped by equities researchers at Barclays PLC from $63.00 to $76.00 in a note issued to investors on Tuesday. The firm currently has an “overweight” rating on the oil and gas company’s stock. Barclays PLC’s price objective suggests a potential upside of 21.76% from the company’s current price.

MPC has been the subject of a number of other research reports. Scotiabank reaffirmed a “hold” rating and issued a $55.00 price objective on shares of Marathon Petroleum Corporation in a research note on Friday, September 1st. BidaskClub raised Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $64.00 price objective (down previously from $65.00) on shares of Marathon Petroleum Corporation in a research note on Wednesday, September 6th. Zacks Investment Research raised Marathon Petroleum Corporation from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research note on Monday, October 16th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $71.00 price objective on shares of Marathon Petroleum Corporation in a research note on Thursday, August 31st. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $64.93.

Marathon Petroleum Corporation (NYSE MPC) traded up $0.22 during midday trading on Tuesday, hitting $62.42. The stock had a trading volume of 2,336,241 shares, compared to its average volume of 4,407,922. The company has a market capitalization of $30,144.80, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 1.57 and a beta of 1.59. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.80 and a current ratio of 1.52. Marathon Petroleum Corporation has a 1 year low of $42.57 and a 1 year high of $63.41.

Marathon Petroleum Corporation (NYSE:MPC) last released its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.29. The firm had revenue of $19.36 billion during the quarter, compared to analyst estimates of $19.38 billion. Marathon Petroleum Corporation had a return on equity of 8.52% and a net margin of 2.35%. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.58 earnings per share. sell-side analysts forecast that Marathon Petroleum Corporation will post 3.59 earnings per share for the current fiscal year.

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In other news, VP C. Michael Palmer sold 11,450 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $53.02, for a total value of $607,079.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Anthony R. Kenney sold 77,578 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $62.35, for a total value of $4,836,988.30. The disclosure for this sale can be found here. 1.05% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of MPC. Blue Chip Partners Inc. purchased a new stake in shares of Marathon Petroleum Corporation in the second quarter worth approximately $100,000. Lee Financial Co raised its holdings in shares of Marathon Petroleum Corporation by 2.4% in the second quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock worth $107,000 after buying an additional 48 shares during the period. First Interstate Bank raised its holdings in shares of Marathon Petroleum Corporation by 81.1% in the second quarter. First Interstate Bank now owns 2,376 shares of the oil and gas company’s stock worth $124,000 after buying an additional 1,064 shares during the period. Crow Point Partners LLC purchased a new stake in shares of Marathon Petroleum Corporation in the third quarter worth approximately $128,000. Finally, Exane Derivatives raised its holdings in shares of Marathon Petroleum Corporation by 2,809.0% in the second quarter. Exane Derivatives now owns 2,589 shares of the oil and gas company’s stock worth $135,000 after buying an additional 2,500 shares during the period. Hedge funds and other institutional investors own 81.02% of the company’s stock.

Marathon Petroleum Corporation Company Profile

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.

Analyst Recommendations for Marathon Petroleum Corporation (NYSE:MPC)

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