Scotiabank Issues Positive Forecast for Marathon Petroleum (NYSE:MPC) Stock Price

Marathon Petroleum (NYSE:MPC - Get Free Report) had its price objective raised by analysts at Scotiabank from $147.00 to $180.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "sector outperform" rating on the oil and gas company's stock. Scotiabank's target price suggests a potential upside of 0.11% from the company's previous close.

Other research analysts have also recently issued reports about the stock. Raymond James Financial restated a "strong-buy" rating on shares of Marathon Petroleum in a report on Monday, June 30th. Wall Street Zen upgraded shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Evercore ISI assumed coverage on shares of Marathon Petroleum in a research note on Wednesday, June 18th. They issued an "in-line" rating and a $170.00 target price on the stock. Morgan Stanley dropped their target price on shares of Marathon Petroleum from $175.00 to $160.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Finally, UBS Group boosted their target price on shares of Marathon Petroleum from $175.00 to $203.00 and gave the company a "buy" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Marathon Petroleum has a consensus rating of "Moderate Buy" and a consensus target price of $184.38.

Marathon Petroleum Stock Down 1.3%

Marathon Petroleum stock traded down $2.45 during midday trading on Friday, hitting $179.81. 4,388,192 shares of the stock were exchanged, compared to its average volume of 2,718,024. Marathon Petroleum has a 52-week low of $115.10 and a 52-week high of $183.31. The stock has a market capitalization of $55.24 billion, a price-to-earnings ratio of 25.29, a price-to-earnings-growth ratio of 3.58 and a beta of 0.88. The business's 50-day moving average price is $163.74 and its 200-day moving average price is $149.90. The company has a quick ratio of 0.73, a current ratio of 1.19 and a debt-to-equity ratio of 1.16.

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, topping the consensus estimate of ($0.40) by $0.16. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The business had revenue of $31.85 billion for the quarter, compared to analysts' expectations of $28.91 billion. During the same period in the previous year, the company earned $2.58 earnings per share. The firm's revenue for the quarter was down 4.1% compared to the same quarter last year. On average, research analysts expect that Marathon Petroleum will post 8.47 EPS for the current fiscal year.

Insider Buying and Selling at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction on Thursday, July 3rd. The stock was 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 approximately $3,315,200. The trade was a 28.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.21% of the company's stock.

Hedge Funds Weigh In On Marathon Petroleum

Several hedge funds have recently made changes to their positions in the stock. Fourth Dimension Wealth LLC purchased a new stake in Marathon Petroleum in the 4th quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC lifted 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 in the last quarter. Hughes Financial Services LLC purchased a new stake in Marathon Petroleum in the 1st quarter worth approximately $32,000. WPG Advisers LLC purchased a new stake in Marathon Petroleum in the 1st quarter worth approximately $32,000. Finally, Decker Retirement Planning Inc. lifted its stake in Marathon Petroleum by 1,621.4% in the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock worth $35,000 after purchasing an additional 227 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

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.