JPMorgan Chase & Co. Boosts Marathon Petroleum (NYSE:MPC) Price Target to $257.00

Key Points

• JPMorgan Chase raised its price target on Marathon Petroleum (MPC) to $257 from $235, implying about a 7.94% upside; other analysts also lifted targets, leaving the Street average at $255.56 and a consensus rating of "Moderate Buy".
• Marathon beat the quarter with EPS of $1.65 versus $0.74 expected and revenue of $34.2 billion versus $33.42 billion, marking a significant year‑over‑year turnaround from last year's ($0.24) EPS.
• Shares traded at $238.10 (down $7.68) for a market cap of roughly $70.1 billion and a 12‑month range of $145.28–$261.61, while institutional investors own about 76.8% of the stock.

Marathon Petroleum (NYSE:MPC - Get Free Report) had its price objective upped by research analysts at JPMorgan Chase & Co. from $235.00 to $257.00 in a research note issued to investors on Wednesday,MarketScreener reports. JPMorgan Chase & Co.'s target price indicates a potential upside of 7.94% from the stock's previous close.

Several other analysts have also commented on MPC. Wells Fargo & Company increased their price target on shares of Marathon Petroleum to $335.00 and gave the company an "overweight" rating in a research report on Wednesday. Citigroup lifted their price objective on Marathon Petroleum from $243.00 to $257.00 and gave the stock a "neutral" rating in a research report on Wednesday. Scotiabank raised their price target on shares of Marathon Petroleum from $174.00 to $210.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, April 22nd. Wall Street Zen downgraded shares of Marathon Petroleum from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 2nd. Finally, Mizuho increased their price target on Marathon Petroleum from $205.00 to $224.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 17th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $255.56.

Marathon Petroleum Price Performance

Shares of MPC traded down $7.68 during trading hours on Wednesday, reaching $238.10. The company had a trading volume of 94,349 shares, compared to its average volume of 2,479,890. The company has a market capitalization of $70.12 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 0.38 and a beta of 0.53. Marathon Petroleum has a 12-month low of $145.28 and a 12-month high of $261.61. The firm has a 50 day simple moving average of $228.34 and a 200-day simple moving average of $200.58. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 1.27.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.91. The company had revenue of $34.20 billion during the quarter, compared to analysts' expectations of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.16%. The firm's quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company posted ($0.24) earnings per share. Research analysts expect that Marathon Petroleum will post 26.3 earnings per share for the current year.

Insider Activity at Marathon Petroleum

In related news, insider Ricky D. Hessling sold 1,626 shares of the business's stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $228.18, for a total transaction of $371,020.68. Following the transaction, the insider directly owned 7,525 shares of the company's stock, valued at approximately $1,717,054.50. The trade was a 17.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 4,473 shares of company stock worth $1,015,428. Company 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. Swiss National Bank increased its stake in shares of Marathon Petroleum by 5.9% in the first quarter. Swiss National Bank now owns 882,166 shares of the oil and gas company's stock worth $215,407,000 after buying an additional 49,000 shares during the last quarter. AIA Group Ltd bought a new stake in shares of Marathon Petroleum in the 1st quarter worth about $4,011,000. Mediolanum International Funds Ltd lifted its position in shares of Marathon Petroleum by 69.0% during the first quarter. Mediolanum International Funds Ltd now owns 73,034 shares of the oil and gas company's stock worth $17,905,000 after purchasing an additional 29,827 shares during the last quarter. Ascent Wealth Partners LLC bought a new stake in Marathon Petroleum in the first quarter valued at about $2,223,000. Finally, Dorsey Wright & Associates bought a new position in Marathon Petroleum during the 1st quarter worth approximately $227,000. Institutional investors and hedge funds own 76.77% of the company's stock.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation NYSE: MPC is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum's operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.