Marathon Petroleum Corporation’s (MPC) Buy Rating Reiterated at Cowen and Company

Marathon Petroleum Corporation (NYSE:MPC)‘s stock had its “buy” rating reissued by stock analysts at Cowen and Company in a note issued to investors on Tuesday.

Several other brokerages also recently weighed in on MPC. Zacks Investment Research downgraded Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 17th. BidaskClub cut Marathon Petroleum Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 9th. Goldman Sachs Group, Inc. (The) cut Marathon Petroleum Corporation from a “buy” rating to a “neutral” rating and set a $63.00 target price for the company. in a research report on Tuesday, October 3rd. They noted that the move was a valuation call. Jefferies Group LLC reaffirmed a “buy” rating and set a $54.83 price objective (down from $65.00) on shares of Marathon Petroleum Corporation in a research note on Thursday, July 20th. Finally, Bank of America Corporation downgraded Marathon Petroleum Corporation from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 5th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $62.64.

Marathon Petroleum Corporation (NYSE:MPC) opened at $62.20 on Tuesday. Marathon Petroleum Corporation has a 12 month low of $42.57 and a 12 month high of $63.41. The stock has a market capitalization of $30,144.80, a PE ratio of 18.76, a PEG ratio of 1.57 and a beta of 1.59. The company has a quick ratio of 0.80, a current ratio of 1.52 and a debt-to-equity ratio of 0.64.

Marathon Petroleum Corporation (NYSE:MPC) last issued its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.48 by $0.29. The company had revenue of $19.36 billion for 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%. Marathon Petroleum Corporation’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period last year, the company earned $0.58 earnings per share. research analysts anticipate that Marathon Petroleum Corporation will post 3.59 EPS for the current year.

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

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Marathon Petroleum Corporation by 4.1% in the second quarter. Vanguard Group Inc. now owns 39,255,717 shares of the oil and gas company’s stock worth $2,054,251,000 after purchasing an additional 1,544,114 shares during the period. Iridian Asset Management LLC CT raised its holdings in Marathon Petroleum Corporation by 8.0% in the second quarter. Iridian Asset Management LLC CT now owns 8,327,167 shares of the oil and gas company’s stock worth $435,761,000 after purchasing an additional 619,548 shares during the period. Dimensional Fund Advisors LP raised its holdings in Marathon Petroleum Corporation by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 6,103,034 shares of the oil and gas company’s stock worth $342,221,000 after purchasing an additional 35,033 shares during the period. Alliancebernstein L.P. raised its holdings in Marathon Petroleum Corporation by 93.3% in the second quarter. Alliancebernstein L.P. now owns 5,331,521 shares of the oil and gas company’s stock worth $278,998,000 after purchasing an additional 2,572,727 shares during the period. Finally, AJO LP raised its holdings in Marathon Petroleum Corporation by 9.0% in the second quarter. AJO LP now owns 4,991,921 shares of the oil and gas company’s stock worth $261,227,000 after purchasing an additional 410,816 shares during the period. 81.02% of the stock is currently owned by hedge funds and other institutional investors.

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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