Marathon Petroleum (MPC) Price Target Raised to $110.00 at Citigroup

Marathon Petroleum (NYSE:MPC) had its price target increased by Citigroup from $100.00 to $110.00 in a research note released on Tuesday. They currently have a buy rating on the oil and gas company’s stock.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Marathon Petroleum from a buy rating to a hold rating in a research note on Tuesday, August 21st. Mizuho assumed coverage on shares of Marathon Petroleum in a research note on Wednesday, August 1st. They issued a buy rating and a $95.00 price target on the stock. JPMorgan Chase & Co. upped their target price on shares of Marathon Petroleum from $98.00 to $102.00 and gave the company an overweight rating in a research note on Friday, July 27th. Wells Fargo & Co restated a buy rating on shares of Marathon Petroleum in a research note on Monday, August 27th. Finally, Goldman Sachs Group assumed coverage on shares of Marathon Petroleum in a research note on Tuesday, October 2nd. They set a conviction-buy rating on the stock. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and an average price target of $92.38.

Shares of Marathon Petroleum stock opened at $80.07 on Tuesday. The stock has a market capitalization of $36.07 billion, a P/E ratio of 21.07, a PEG ratio of 1.34 and a beta of 1.50. Marathon Petroleum has a 1 year low of $55.73 and a 1 year high of $88.45. The company has a current ratio of 1.60, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Thursday, July 26th. The oil and gas company reported $2.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.98 by $0.29. The company had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.14 billion. Marathon Petroleum had a net margin of 4.89% and a return on equity of 12.83%. Marathon Petroleum’s revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.93 EPS. As a group, analysts expect that Marathon Petroleum will post 5.05 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. PointState Capital LP purchased a new stake in shares of Marathon Petroleum during the 2nd quarter valued at about $378,482,000. Bank of Montreal Can purchased a new stake in shares of Marathon Petroleum during the 2nd quarter valued at about $184,334,000. Bank of New York Mellon Corp increased its position in shares of Marathon Petroleum by 44.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,506,332 shares of the oil and gas company’s stock valued at $526,645,000 after purchasing an additional 2,297,774 shares during the last quarter. Morgan Stanley increased its position in shares of Marathon Petroleum by 59.5% during the 2nd quarter. Morgan Stanley now owns 5,798,607 shares of the oil and gas company’s stock valued at $406,829,000 after purchasing an additional 2,162,851 shares during the last quarter. Finally, Third Point LLC increased its position in shares of Marathon Petroleum by 55.0% during the 2nd quarter. Third Point LLC now owns 3,100,000 shares of the oil and gas company’s stock valued at $217,496,000 after purchasing an additional 1,100,000 shares during the last quarter. Institutional investors and hedge funds own 82.78% of the company’s stock.

About Marathon Petroleum

Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.

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Analyst Recommendations for Marathon Petroleum (NYSE:MPC)

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