Marathon Petroleum (NYSE:MPC) Stock Price Target Lowered at Mizuho

Key Points

• Mizuho cut its Marathon Petroleum price target from $457 to $440 and maintained a neutral rating, implying 7.47% upside from the share price cited in the report.
• Analyst sentiment is broadly positive: MarketBeat lists a “Moderate Buy” consensus and a $424.06 average target, with 12 analysts rating the stock Buy or Strong Buy and five rating it Hold.
• Marathon Petroleum beat quarterly earnings expectations, reporting $26.93 per share versus the $25.37 consensus, while revenue rose 57.6% year over year to $56.03 billion.

Marathon Petroleum (NYSE:MPC - Get Free Report) had its price target lowered by equities research analysts at Mizuho from $457.00 to $440.00 in a report released on Friday, Benzinga reports. The brokerage presently has a "neutral" rating on the oil and gas company's stock. Mizuho's target price points to a potential upside of 7.47% from the company's current price.

MPC has been the subject of a number of other reports. Barclays increased their target price on shares of Marathon Petroleum from $321.00 to $488.00 and gave the stock an "overweight" rating in a report on Monday, October 12th. Piper Sandler lifted their price target on shares of Marathon Petroleum from $462.00 to $466.00 and gave the company an "overweight" rating in a research report on Thursday, November 5th. The Goldman Sachs Group increased their target price on Marathon Petroleum from $376.00 to $472.00 and gave the stock a "buy" rating in a research note on Monday, September 21st. Weiss Ratings upgraded shares of Marathon Petroleum from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, October 8th. Finally, Bank of America upped their target price on shares of Marathon Petroleum from $410.00 to $426.00 and gave the company a "neutral" rating in a research note on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $424.06.

Marathon Petroleum Trading Down 0.8%

Shares of Marathon Petroleum stock traded down $3.45 during trading on Friday, reaching $409.40. The company's stock had a trading volume of 681,321 shares, compared to its average volume of 2,463,745. The company has a market cap of $111.47 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 0.10 and a beta of 0.53. The firm's 50-day moving average is $423.34 and its two-hundred day moving average is $299.82. Marathon Petroleum has a 52-week low of $161.93 and a 52-week high of $493.98. The company has a quick ratio of 1.09, a current ratio of 1.45 and a debt-to-equity ratio of 1.10.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The oil and gas company reported $26.93 earnings per share for the quarter, topping the consensus estimate of $25.37 by $1.56. The business had revenue of $56.03 billion during the quarter, compared to the consensus estimate of $46.60 billion. Marathon Petroleum had a net margin of 8.27% and a return on equity of 55.82%. The firm's revenue for the quarter was up 57.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.01 earnings per share. On average, sell-side analysts anticipate that Marathon Petroleum will post 66.31 earnings per share for the current year.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, insider Molly R. Benson sold 17,196 shares of the business's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $358.57, for a total value of $6,165,969.72. Following the sale, the insider owned 30,334 shares in the company, valued at $10,876,862.38. The trade was a 36.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Erin M. Brzezinski sold 570 shares of the business's stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $362.79, for a total value of $206,790.30. Following the completion of the sale, the vice president owned 1,576 shares in the company, valued at $571,757.04. This represents a 26.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 19,191 shares of company stock valued at $6,905,127. Corporate insiders own 0.17% of the company's stock.

Institutional Investors Weigh In On Marathon Petroleum

A number of hedge funds have recently bought and sold shares of MPC. Pine Harbor Wealth Management LLC purchased a new stake in shares of Marathon Petroleum during the 3rd quarter valued at about $232,000. Xcelsior Advisor Partners LLC increased its stake in Marathon Petroleum by 936.5% during the third quarter. Xcelsior Advisor Partners LLC now owns 8,955 shares of the oil and gas company's stock worth $3,541,000 after acquiring an additional 8,091 shares during the last quarter. Elgethun Capital Management raised its position in Marathon Petroleum by 2.7% during the third quarter. Elgethun Capital Management now owns 3,278 shares of the oil and gas company's stock valued at $1,296,000 after purchasing an additional 86 shares during the period. Bleakley Financial Group LLC lifted its stake in shares of Marathon Petroleum by 8.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 12,162 shares of the oil and gas company's stock valued at $4,809,000 after purchasing an additional 912 shares during the last quarter. Finally, Smith Moore & CO. increased its position in shares of Marathon Petroleum by 3.1% during the 3rd quarter. Smith Moore & CO. now owns 3,404 shares of the oil and gas company's stock valued at $1,346,000 after purchasing an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company's stock.

About Marathon Petroleum

Marathon Petroleum Corporation is an integrated downstream energy company focused on refining, marketing, and transporting petroleum products. Its refineries produce fuels and other products, including gasoline, diesel, jet fuel, asphalt, and petrochemical feedstocks. The company sells transportation fuels and related products through a network of branded locations and other wholesale and commercial channels, primarily in the United States. Its midstream operations, conducted largely through its affiliated partnership MPLX, include gathering, processing, and transporting natural gas and natural gas liquids, as well as storing and transporting crude oil and refined products.

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