Mizuho Boosts Marathon Petroleum (NYSE:MPC) Price Target to $188.00

Key Points

• Mizuho Research has raised its price target for Marathon Petroleum from $184.00 to $188.00, indicating a potential upside of 4.29% from the current stock price.
• Marathon Petroleum's recent earnings report showed EPS of $3.96, exceeding analyst expectations, though revenue decreased by 11.1% compared to the same quarter last year.
• The consensus rating for Marathon Petroleum is "Moderate Buy," with a target price average of $189.64 from eight analysts rated as Buy and eight as Hold.

Marathon Petroleum (NYSE:MPC - Get Free Report) had its price objective hoisted by Mizuho from $184.00 to $188.00 in a report issued on Monday,Benzinga reports. The firm presently has a "neutral" rating on the oil and gas company's stock. Mizuho's price target would indicate a potential upside of 4.29% from the company's current price.

MPC has been the topic of a number of other reports. Morgan Stanley increased their target price on Marathon Petroleum from $160.00 to $182.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Wolfe Research cut Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Evercore ISI started coverage on Marathon Petroleum in a report on Wednesday, June 18th. They issued an "in-line" rating and a $170.00 target price on the stock. Wall Street Zen raised Marathon Petroleum from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Piper Sandler increased their price target on Marathon Petroleum from $184.00 to $222.00 and gave the company a "neutral" rating in a research report on Thursday. Eight research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $189.64.

Marathon Petroleum Trading Down 0.0%

Shares of Marathon Petroleum stock traded down $0.02 on Monday, reaching $180.26. 395,879 shares of the company's stock were exchanged, compared to its average volume of 2,547,592. The company has a market capitalization of $54.80 billion, a P/E ratio of 26.77, a price-to-earnings-growth ratio of 3.52 and a beta of 0.97. Marathon Petroleum has a 52 week low of $115.10 and a 52 week high of $186.28. The firm's 50-day moving average is $172.81 and its two-hundred day moving average is $157.27. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The firm had revenue of $34.10 billion for the quarter, compared to analysts' expectations of $31.70 billion. During the same period in the prior year, the business earned $4.12 EPS. The company's revenue for the quarter was down 11.1% compared to the same quarter last year. Sell-side analysts predict that Marathon Petroleum will post 8.47 EPS for the current fiscal year.

Insider Activity

In other news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the completion of the sale, the director owned 18,944 shares in the company, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Molly R. Benson sold 10,879 shares of the firm's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the transaction, the insider directly owned 28,700 shares in the company, valued at approximately $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On Marathon Petroleum

A number of large investors have recently modified their holdings of the company. Baker Tilly Wealth Management LLC increased its stake in Marathon Petroleum by 2.8% in the 2nd quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company's stock worth $370,000 after purchasing an additional 60 shares during the period. CHICAGO TRUST Co NA increased its stake in Marathon Petroleum by 3.9% in the 2nd quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company's stock worth $280,000 after purchasing an additional 63 shares during the period. Werba Rubin Papier Wealth Management increased its stake in Marathon Petroleum by 4.2% in the 2nd quarter. Werba Rubin Papier Wealth Management now owns 1,577 shares of the oil and gas company's stock worth $262,000 after purchasing an additional 64 shares during the period. AdvisorShares Investments LLC increased its stake in shares of Marathon Petroleum by 2.4% during the second quarter. AdvisorShares Investments LLC now owns 2,828 shares of the oil and gas company's stock valued at $470,000 after buying an additional 66 shares during the period. Finally, Joseph Group Capital Management increased its stake in shares of Marathon Petroleum by 0.3% during the second quarter. Joseph Group Capital Management now owns 21,904 shares of the oil and gas company's stock valued at $3,639,000 after buying an additional 67 shares during the period. 76.77% of the stock is 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.

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