Marathon Petroleum (MPC) Given “Overweight” Rating at Piper Jaffray Companies

Piper Jaffray Companies reissued their overweight rating on shares of Marathon Petroleum (NYSE:MPC) in a report published on Thursday, MarketBeat.com reports. Piper Jaffray Companies also issued estimates for Marathon Petroleum’s Q2 2020 earnings at $3.06 EPS and Q3 2020 earnings at $2.91 EPS.

MPC has been the subject of several other reports. Tudor Pickering upgraded Marathon Petroleum from a hold rating to a buy rating in a research report on Thursday, October 11th. Morgan Stanley set a $110.00 price target on Marathon Petroleum and gave the stock a buy rating in a research report on Friday, October 12th. Cowen lowered their price objective on Marathon Petroleum from $111.00 to $97.00 and set an outperform rating on the stock in a research report on Wednesday, November 28th. Citigroup increased their price target on Marathon Petroleum from $100.00 to $110.00 and gave the company a buy rating in a report on Tuesday, October 16th. Finally, ValuEngine lowered Marathon Petroleum from a buy rating to a hold rating in a research note on Thursday, November 1st. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $94.21.

Shares of NYSE:MPC traded up $1.24 during trading on Thursday, reaching $64.87. 6,862,995 shares of the company traded hands, compared to its average volume of 6,694,499. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.09 and a current ratio of 1.65. Marathon Petroleum has a 52 week low of $54.29 and a 52 week high of $88.45. The company has a market cap of $44.37 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 0.57 and a beta of 1.35.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Thursday, November 1st. The oil and gas company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.02. The company had revenue of $23.13 billion during the quarter, compared to analysts’ expectations of $23.20 billion. Marathon Petroleum had a return on equity of 12.28% and a net margin of 4.48%. The business’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.77 earnings per share. Research analysts predict that Marathon Petroleum will post 5.13 EPS for the current fiscal year.

In other Marathon Petroleum news, Director Steven A. Davis bought 2,500 shares of the company’s stock in a transaction dated Monday, November 19th. The shares were bought at an average price of $62.20 per share, for a total transaction of $155,500.00. Following the acquisition, the director now directly owns 16,462 shares of the company’s stock, valued at $1,023,936.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven A. Davis acquired 3,500 shares of the company’s stock in a transaction that occurred on Friday, December 14th. The stock was purchased at an average price of $62.14 per share, for a total transaction of $217,490.00. The disclosure for this purchase can be found here. 1.09% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Marathon Petroleum by 9.8% in the third quarter. BlackRock Inc. now owns 39,961,377 shares of the oil and gas company’s stock valued at $3,195,712,000 after buying an additional 3,550,450 shares in the last quarter. Vanguard Group Inc. lifted its stake in Marathon Petroleum by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 35,373,004 shares of the oil and gas company’s stock valued at $2,828,779,000 after acquiring an additional 255,599 shares in the last quarter. Vanguard Group Inc increased its position in shares of Marathon Petroleum by 0.7% during the 3rd quarter. Vanguard Group Inc now owns 35,373,004 shares of the oil and gas company’s stock worth $2,828,779,000 after purchasing an additional 255,599 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Marathon Petroleum by 16.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,709,970 shares of the oil and gas company’s stock worth $696,535,000 after acquiring an additional 1,203,638 shares during the last quarter. Finally, Morgan Stanley increased its holdings in shares of Marathon Petroleum by 16.2% during the 3rd quarter. Morgan Stanley now owns 6,740,004 shares of the oil and gas company’s stock worth $538,997,000 after acquiring an additional 941,397 shares during the last quarter. 83.16% of the stock is owned by institutional investors.

About Marathon Petroleum

Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing, Speedway and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.

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Analyst Recommendations for Marathon Petroleum (NYSE:MPC)

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