Marathon Petroleum (NYSE:MPC) Given New $457.00 Price Target at Mizuho

Key Points

• Mizuho raised Marathon Petroleum’s price target to $457 from $304 while maintaining a “neutral” rating, implying approximately 3.42% upside from the reported share price.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $379.94; shares opened at $441.88 and were near their 12-month high.
• Marathon Petroleum reported quarterly EPS of $17.73, exceeding expectations of $14.27, while revenue rose 53.5% year over year to $51.99 billion. Insiders sold approximately $7.8 million of stock during the latest quarter.

Marathon Petroleum (NYSE:MPC - Get Free Report) had its price target increased by research analysts at Mizuho from $304.00 to $457.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a "neutral" rating on the oil and gas company's stock. Mizuho's price target suggests a potential upside of 3.42% from the stock's current price.

Several other research analysts have also issued reports on MPC. Morgan Stanley lifted their price target on shares of Marathon Petroleum from $265.00 to $453.00 and gave the stock an "overweight" rating in a research report on Monday, September 14th. BMO Capital Markets reissued an "outperform" rating on shares of Marathon Petroleum in a research note on Friday, June 12th. Zacks Research upgraded Marathon Petroleum from a "hold" rating to a "strong-buy" rating in a report on Friday, September 4th. Jefferies Financial Group reaffirmed a "hold" rating and set a $413.00 target price on shares of Marathon Petroleum in a research report on Monday, September 21st. Finally, Wells Fargo & Company increased their price target on Marathon Petroleum from $359.00 to $400.00 and gave the company an "overweight" rating in a research report on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Marathon Petroleum currently has a consensus rating of "Moderate Buy" and a consensus price target of $379.94.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $441.88 on Thursday. Marathon Petroleum has a twelve month low of $161.93 and a twelve month high of $444.99. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19. The firm has a 50-day moving average of $374.68 and a two-hundred day moving average of $298.14. The company has a market capitalization of $129.00 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 0.13 and a beta of 0.54.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The company had revenue of $51.99 billion for the quarter, compared to analysts' expectations of $40.87 billion. During the same quarter in the previous year, the company posted $3.96 EPS. The business's revenue was up 53.5% compared to the same quarter last year. As a group, analysts expect that Marathon Petroleum will post 61.31 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Molly Benson sold 17,196 shares of the firm's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $358.57, for a total value of $6,165,969.72. Following the completion of the sale, the insider owned 30,334 shares of the company's stock, valued at $10,876,862.38. This trade represents a 36.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Shawn Lyon sold 1,000 shares of Marathon Petroleum stock in a transaction on Monday, August 31st. The shares were sold at an average price of $375.75, for a total value of $375,750.00. Following the transaction, the senior vice president owned 11,194 shares in the company, valued at $4,206,145.50. This represents a 8.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 21,691 shares of company stock worth $7,780,127 over the last quarter. Corporate insiders own 0.17% of the company's stock.

Institutional Trading of Marathon Petroleum

A number of hedge funds have recently made changes to their positions in the stock. Energy Income Partners LLC bought a new position in Marathon Petroleum during the second quarter valued at about $4,912,000. Evolve Private Wealth LLC acquired a new stake in shares of Marathon Petroleum during the 2nd quarter worth approximately $673,000. Railway Pension Investments Ltd acquired a new stake in shares of Marathon Petroleum during the 2nd quarter worth approximately $3,886,000. Pictet Asset Management Holding SA increased its position in shares of Marathon Petroleum by 31.0% during the first quarter. Pictet Asset Management Holding SA now owns 213,545 shares of the oil and gas company's stock valued at $52,146,000 after purchasing an additional 50,521 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its stake in shares of Marathon Petroleum by 570.7% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 168,644 shares of the oil and gas company's stock valued at $41,180,000 after purchasing an additional 143,500 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation NYSE: MPC is an integrated downstream energy company engaged primarily in refining, marketing and transporting petroleum products. The company converts crude oil and other feedstocks into gasoline, diesel, jet fuel, asphalt, propane and other refined products used by consumers, businesses and industrial customers.

Marathon Petroleum operates refineries and related logistics assets in the United States, with a refining and marketing presence serving markets across the Midwest, Gulf Coast and West Coast.

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