Marathon Petroleum (NYSE:MPC) Stock Price Expected to Rise, Raymond James Financial Analyst Says

Key Points

• Raymond James raised its price target on Marathon Petroleum from $285 to $300 and kept an outperform rating, implying about 14% upside from the prior close.
• Other analysts were also generally constructive on MPC, with several firms lifting targets; the current consensus is a Moderate Buy with an average price target of $270.38.
• Marathon Petroleum’s latest earnings topped expectations, reporting $1.65 EPS versus $0.74 expected and revenue of $34.2 billion, while the stock recently traded near its 52-week high.

Marathon Petroleum (NYSE:MPC - Get Free Report) had its price target raised by equities research analysts at Raymond James Financial from $285.00 to $300.00 in a research note issued to investors on Wednesday,MarketScreener reports. The brokerage currently has an "outperform" rating on the oil and gas company's stock. Raymond James Financial's target price would indicate a potential upside of 14.24% from the stock's previous close.

Several other research analysts have also issued reports on MPC. Citigroup lifted their target price on Marathon Petroleum from $243.00 to $257.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. Wells Fargo & Company upped their target price on Marathon Petroleum to $335.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Barclays boosted their price objective on shares of Marathon Petroleum from $230.00 to $270.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Jefferies Financial Group upped their target price on Marathon Petroleum from $279.00 to $296.00 and gave the company a "buy" rating in a research report on Tuesday, May 26th. Finally, Weiss Ratings downgraded Marathon Petroleum from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $270.38.

Marathon Petroleum Price Performance

Shares of NYSE:MPC traded up $4.46 during mid-day trading on Wednesday, reaching $262.61. The stock had a trading volume of 196,611 shares, compared to its average volume of 2,466,428. The company has a market cap of $76.67 billion, a P/E ratio of 17.05, a price-to-earnings-growth ratio of 0.43 and a beta of 0.52. Marathon Petroleum has a 1 year low of $158.00 and a 1 year high of $272.46. The business's 50 day moving average price is $243.38 and its 200 day moving average price is $211.02. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings data 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. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The business had revenue of $34.20 billion for the quarter, compared to the consensus estimate of $33.42 billion. During the same period in the prior year, the business posted ($0.24) earnings per share. The company's quarterly revenue was up 8.5% compared to the same quarter last year. Research analysts expect that Marathon Petroleum will post 30.05 EPS for the current fiscal year.

Insider Transactions at Marathon Petroleum

In other news, insider Ricky D. Hessling sold 1,626 shares of Marathon Petroleum stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $228.18, for a total value of $371,020.68. Following the sale, the insider owned 7,525 shares in the company, valued at $1,717,054.50. This trade represents a 17.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Michael A. Henschen II sold 6,336 shares of the company's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the transaction, the vice president owned 16,900 shares of the company's stock, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 8,999 shares of company stock valued at $2,311,820 in the last ninety days. 0.17% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Alberta Investment Management Corp purchased a new stake in shares of Marathon Petroleum during the 3rd quarter valued at approximately $2,891,000. Diversified Trust Co. grew its position in Marathon Petroleum by 39.3% in the fourth quarter. Diversified Trust Co. now owns 15,675 shares of the oil and gas company's stock worth $2,549,000 after acquiring an additional 4,419 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in Marathon Petroleum during the third quarter worth $1,004,000. USA Financial Formulas purchased a new stake in Marathon Petroleum in the fourth quarter valued at $791,000. Finally, KBC Group NV raised its position in Marathon Petroleum by 22.4% in the fourth quarter. KBC Group NV now owns 225,837 shares of the oil and gas company's stock valued at $36,728,000 after purchasing an additional 41,259 shares during the period. 76.77% of the stock is owned by institutional investors and hedge funds.

About Marathon Petroleum

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.

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