Marathon Petroleum (NYSE:MPC) Price Target Cut to $182.00 by Analysts at TD Cowen

Key Points

• TD Cowen has lowered its price target for Marathon Petroleum from $190.00 to $182.00, while maintaining a "buy" rating, indicating a potential upside of 7.84% from the prior close.
• Marathon Petroleum reported $3.96 earnings per share for its last quarter, surpassing expectations of $3.22, though revenue was down 11.1% compared to the same quarter last year.
• Analyst ratings for Marathon Petroleum show a mix, with one sell, nine hold, and eight buy ratings, resulting in an average rating of "Hold" and a price target of $185.29.

Marathon Petroleum (NYSE:MPC - Get Free Report) had its price target dropped by equities researchers at TD Cowen from $190.00 to $182.00 in a research report issued on Wednesday, MarketBeat Ratings reports. The brokerage currently has a "buy" rating on the oil and gas company's stock. TD Cowen's target price would suggest a potential upside of 13.08% from the company's previous close.

A number of other research analysts have also commented on MPC. Citigroup upped their price objective on Marathon Petroleum from $144.00 to $182.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Wolfe Research downgraded Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. Scotiabank reissued an "outperform" rating on shares of Marathon Petroleum in a research note on Friday, July 11th. Piper Sandler lifted their price objective on Marathon Petroleum from $175.00 to $182.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Mizuho raised their price target on shares of Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Marathon Petroleum currently has a consensus rating of "Hold" and an average target price of $185.29.

Marathon Petroleum Stock Down 0.3%

Shares of Marathon Petroleum stock traded down $0.56 on Wednesday, hitting $160.95. The company had a trading volume of 1,278,171 shares, compared to its average volume of 1,963,470. The firm has a market capitalization of $48.93 billion, a P/E ratio of 23.88, a P/E/G ratio of 2.81 and a beta of 0.90. Marathon Petroleum has a twelve month low of $115.10 and a twelve month high of $183.10. The stock has a 50-day moving average of $169.25 and a 200-day moving average of $153.70. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.73.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $31.70 billion. During the same period in the previous year, the business earned $4.12 EPS. The company's revenue was down 11.1% compared to the same quarter last year. Research analysts predict that Marathon Petroleum will post 8.47 earnings per share for the current year.

Insiders Place Their Bets

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the business's stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.21% of the company's stock.

Hedge Funds Weigh In On Marathon Petroleum

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MPC. Fourth Dimension Wealth LLC purchased a new position in Marathon Petroleum during the fourth quarter worth about $26,000. Activest Wealth Management grew its stake in shares of Marathon Petroleum by 290.2% during the second quarter. Activest Wealth Management now owns 160 shares of the oil and gas company's stock valued at $27,000 after buying an additional 119 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its stake in Marathon Petroleum by 1,546.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company's stock worth $31,000 after purchasing an additional 201 shares during the period. Hughes Financial Services LLC purchased a new position in shares of Marathon Petroleum in the first quarter worth $32,000. Finally, WPG Advisers LLC bought a new position in shares of Marathon Petroleum during the first quarter valued at about $32,000. Institutional investors own 76.77% of the company's stock.

About Marathon Petroleum

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.