Evercore ISI Initiates Coverage on Marathon Petroleum (NYSE:MPC)

Stock analysts at Evercore ISI began coverage on shares of Marathon Petroleum (NYSE:MPC - Get Free Report) in a research report issued on Wednesday, Marketbeat Ratings reports. The firm set an "in-line" rating and a $170.00 price target on the oil and gas company's stock. Evercore ISI's target price would suggest a potential downside of 0.04% from the stock's previous close.

A number of other research analysts have also recently issued reports on MPC. Wells Fargo & Company lifted their price target on shares of Marathon Petroleum from $180.00 to $182.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. Morgan Stanley dropped their price target on Marathon Petroleum from $175.00 to $160.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Raymond James Financial cut their price target on Marathon Petroleum from $193.00 to $183.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, April 9th. Mizuho lifted their price objective on Marathon Petroleum from $168.00 to $184.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Finally, Wall Street Zen raised Marathon Petroleum from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Marathon Petroleum presently has an average rating of "Moderate Buy" and a consensus target price of $175.80.

Marathon Petroleum Price Performance

MPC stock opened at $170.07 on Wednesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.19 and a quick ratio of 0.73. Marathon Petroleum has a 1 year low of $115.10 and a 1 year high of $183.31. The firm has a 50-day moving average of $149.22 and a 200 day moving average of $146.55. The company has a market cap of $52.25 billion, a P/E ratio of 23.92, a PEG ratio of 3.29 and a beta of 0.89.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.16. The company had revenue of $31.85 billion for the quarter, compared to analyst estimates of $28.91 billion. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. The firm's revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.58 earnings per share. On average, sell-side analysts forecast that Marathon Petroleum will post 8.47 EPS for the current year.

Hedge Funds Weigh In On Marathon Petroleum

A number of hedge funds have recently made changes to their positions in the business. Nixon Peabody Trust Co. boosted its holdings in shares of Marathon Petroleum by 3.4% during the 4th quarter. Nixon Peabody Trust Co. now owns 2,068 shares of the oil and gas company's stock valued at $288,000 after purchasing an additional 68 shares during the last quarter. Lake Street Advisors Group LLC boosted its stake in Marathon Petroleum by 1.6% during the fourth quarter. Lake Street Advisors Group LLC now owns 4,271 shares of the oil and gas company's stock valued at $596,000 after buying an additional 69 shares during the last quarter. Buckley Wealth Management LLC grew its holdings in Marathon Petroleum by 0.5% during the 4th quarter. Buckley Wealth Management LLC now owns 14,325 shares of the oil and gas company's stock valued at $1,998,000 after buying an additional 75 shares in the last quarter. Beverly Hills Private Wealth LLC increased its stake in Marathon Petroleum by 1.2% in the 4th quarter. Beverly Hills Private Wealth LLC now owns 6,655 shares of the oil and gas company's stock worth $928,000 after acquiring an additional 76 shares during the last quarter. Finally, Fidelis Capital Partners LLC raised its holdings in shares of Marathon Petroleum by 2.7% during the 4th quarter. Fidelis Capital Partners LLC now owns 3,010 shares of the oil and gas company's stock worth $442,000 after acquiring an additional 78 shares in the last quarter. Institutional investors own 76.77% of the company's stock.

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.