Marathon Petroleum (NYSE:MPC) Given New $279.00 Price Target at Jefferies Financial Group

Key Points

• Jefferies raised its price target on Marathon Petroleum (MPC) to $279 from $263 and maintained a "buy" rating, implying about a 24.3% upside from the prior close.
• Marathon beat quarterly estimates, reporting $4.07 EPS vs. $3.73 expected and $32.57 billion in revenue vs. $30.89 billion consensus, and analysts forecast roughly 8.47 EPS for the fiscal year.
• Analyst sentiment is generally positive with a consensus rating of "Moderate Buy" and a $237.50 consensus target; several firms have raised targets (TD Cowen to $299), while insiders have recently sold shares and insiders own just 0.17% versus 76.77% institutional ownership.

Marathon Petroleum (NYSE:MPC - Get Free Report) had its price target upped by equities research analysts at Jefferies Financial Group from $263.00 to $279.00 in a report released on Monday,MarketScreener reports. The firm presently has a "buy" rating on the oil and gas company's stock. Jefferies Financial Group's target price would suggest a potential upside of 24.29% from the stock's previous close.

MPC has been the subject of a number of other reports. Wells Fargo & Company lifted their price objective on Marathon Petroleum from $213.00 to $217.00 and gave the company an "overweight" rating in a report on Wednesday, February 4th. Wall Street Zen cut shares of Marathon Petroleum from a "strong-buy" rating to a "buy" rating in a research report on Saturday. BMO Capital Markets lifted their price target on shares of Marathon Petroleum from $230.00 to $255.00 and gave the company an "outperform" rating in a report on Tuesday, April 7th. TD Cowen boosted their price target on shares of Marathon Petroleum from $198.00 to $299.00 and gave the company a "buy" rating in a research report on Wednesday, April 1st. Finally, Mizuho raised their price objective on shares of Marathon Petroleum from $205.00 to $224.00 and gave the stock a "neutral" rating in a report on Tuesday, March 17th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $237.50.

Marathon Petroleum Stock Down 0.4%

NYSE MPC opened at $224.47 on Monday. Marathon Petroleum has a 1-year low of $121.69 and a 1-year high of $255.77. The company has a market capitalization of $66.11 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 0.44 and a beta of 0.58. The stock's 50 day moving average is $219.20 and its two-hundred day moving average is $196.31. 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 posted its earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 EPS for the quarter, topping the consensus estimate of $3.73 by $0.34. Marathon Petroleum had a return on equity of 13.90% and a net margin of 2.99%.The business had revenue of $32.57 billion during the quarter, compared to the consensus estimate of $30.89 billion. During the same quarter last year, the company earned $0.77 EPS. Marathon Petroleum's revenue was down .1% on a year-over-year basis. Equities analysts forecast that Marathon Petroleum will post 8.47 earnings per share for the current fiscal year.

Insider Buying and Selling 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 shares were sold at an average price of $228.18, for a total value of $371,020.68. Following the completion of the transaction, the insider owned 7,525 shares in the company, valued at $1,717,054.50. The trade was a 17.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 4,473 shares of company stock valued at $1,015,428 over the last three months. Company insiders own 0.17% of the company's stock.

Institutional Trading of Marathon Petroleum

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV raised its stake in shares of Marathon Petroleum by 2.6% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 2,050 shares of the oil and gas company's stock worth $333,000 after buying an additional 51 shares during the last quarter. IFG Advisory LLC boosted its stake in Marathon Petroleum by 1.5% in the fourth quarter. IFG Advisory LLC now owns 3,429 shares of the oil and gas company's stock valued at $558,000 after acquiring an additional 51 shares during the last quarter. Associated Banc Corp grew its holdings in Marathon Petroleum by 2.1% during the 3rd quarter. Associated Banc Corp now owns 2,475 shares of the oil and gas company's stock worth $477,000 after acquiring an additional 52 shares during the period. Eagle Bluffs Wealth Management LLC raised its position in shares of Marathon Petroleum by 1.2% during the 4th quarter. Eagle Bluffs Wealth Management LLC now owns 4,357 shares of the oil and gas company's stock valued at $709,000 after acquiring an additional 52 shares during the last quarter. Finally, Auxano Advisors LLC raised its position in shares of Marathon Petroleum by 2.1% during the 4th quarter. Auxano Advisors LLC now owns 2,630 shares of the oil and gas company's stock valued at $428,000 after acquiring an additional 55 shares during the last quarter. 76.77% of the stock is owned by institutional investors.

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.