Bank of America Raises Marathon Petroleum (NYSE:MPC) Price Target to $192.00

Key Points

• Bank of America has increased Marathon Petroleum's price target from $184.00 to $192.00, indicating a potential upside of 6.84% from its current trading price.
• Marathon Petroleum's stock recently traded down 0.2%, reaching $179.70, with a market capitalization of $54.63 billion.
• Despite some variations in analyst ratings, the consensus target price for Marathon Petroleum currently stands at $186.57, with eight analysts

Marathon Petroleum (NYSE:MPC - Get Free Report) had its price objective boosted by Bank of America from $184.00 to $192.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the oil and gas company's stock. Bank of America's price objective would indicate a potential upside of 6.84% from the company's current price.

A number of other research analysts also recently issued reports on MPC. Wall Street Zen raised shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Mizuho boosted their target price on shares of Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Wells Fargo & Company boosted their target price on shares of Marathon Petroleum from $182.00 to $205.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Citigroup boosted their target price on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Finally, Raymond James Financial reissued an "outperform" rating and set a $200.00 target price (up previously from $180.00) on shares of Marathon Petroleum in a research report on Tuesday, July 15th. Eight equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $186.57.

Marathon Petroleum Stock Down 0.2%

Shares of Marathon Petroleum stock traded down $0.45 on Wednesday, reaching $179.70. The stock had a trading volume of 469,392 shares, compared to its average volume of 2,587,440. The company has a 50 day moving average price of $171.00 and a 200 day moving average price of $155.73. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. Marathon Petroleum has a 1 year low of $115.10 and a 1 year high of $183.50. The stock has a market capitalization of $54.63 billion, a P/E ratio of 26.66, a P/E/G ratio of 3.27 and a beta of 0.97.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The firm had revenue of $34.10 billion for the quarter, compared to the consensus estimate of $31.70 billion. During the same quarter in the previous year, the firm earned $4.12 EPS. The company's quarterly revenue was down 11.1% compared to the same quarter last year. As a group, equities research analysts forecast that Marathon Petroleum will post 8.47 EPS for the current year.

Insider Buying and Selling at Marathon Petroleum

In related news, Director Kim K.W. Rucker sold 7,392 shares of the business's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total value of $1,293,600.00. Following the completion of the transaction, the director directly owned 18,944 shares in the company, valued at $3,315,200. The trade was a 28.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Molly R. Benson sold 10,879 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the transaction, the insider owned 28,700 shares of the company's stock, valued at approximately $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.25% of the company's stock.

Hedge Funds Weigh In On Marathon Petroleum

Several large investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans lifted its stake in shares of Marathon Petroleum by 2.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 399,342 shares of the oil and gas company's stock valued at $66,344,000 after purchasing an additional 11,380 shares during the period. MASTERINVEST Kapitalanlage GmbH acquired a new position in shares of Marathon Petroleum in the 2nd quarter valued at $238,000. B. Riley Wealth Advisors Inc. acquired a new position in Marathon Petroleum during the second quarter worth $433,000. Newbridge Financial Services Group Inc. raised its position in Marathon Petroleum by 65.5% during the second quarter. Newbridge Financial Services Group Inc. now owns 733 shares of the oil and gas company's stock worth $122,000 after acquiring an additional 290 shares during the period. Finally, State of Wyoming raised its position in Marathon Petroleum by 12.5% during the second quarter. State of Wyoming now owns 1,442 shares of the oil and gas company's stock worth $240,000 after acquiring an additional 160 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.

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