Marathon Petroleum (NYSE:MPC) Receives New Coverage from Analysts at Bank of America

Investment analysts at Bank of America assumed coverage on shares of Marathon Petroleum (NYSE:MPC) in a report issued on Thursday, StockNewsAPI reports. The brokerage set a “neutral” rating and a $174.00 price target on the oil and gas company’s stock. Bank of America‘s price objective would indicate a potential upside of 10.15% from the company’s current price.

MPC has been the topic of several other research reports. Piper Sandler reduced their price target on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, September 20th. Tudor, Pickering, Holt & Co. downgraded shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. Citigroup dropped their price objective on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Mizuho dropped their price objective on Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Finally, Morgan Stanley dropped their price objective on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $187.00.

Marathon Petroleum Stock Up 0.6 %

Shares of NYSE:MPC opened at $157.97 on Thursday. The company’s fifty day moving average is $168.39 and its 200-day moving average is $176.35. The company has a market capitalization of $55.66 billion, a PE ratio of 7.89, a P/E/G ratio of 2.65 and a beta of 1.37. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31. Marathon Petroleum has a 52 week low of $140.98 and a 52 week high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $1.03. The business had revenue of $38.36 billion for the quarter, compared to the consensus estimate of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.32 EPS. Equities research analysts predict that Marathon Petroleum will post 10.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Marathon Petroleum

Institutional investors and hedge funds have recently modified their holdings of the business. Global Assets Advisory LLC acquired a new position in shares of Marathon Petroleum in the 1st quarter valued at approximately $36,823,000. Founders Financial Securities LLC grew its position in shares of Marathon Petroleum by 22.8% in the 2nd quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock valued at $863,000 after purchasing an additional 924 shares during the period. Fidelis Capital Partners LLC grew its position in shares of Marathon Petroleum by 3.2% in the 1st quarter. Fidelis Capital Partners LLC now owns 3,050 shares of the oil and gas company’s stock valued at $615,000 after purchasing an additional 94 shares during the period. LRI Investments LLC acquired a new position in shares of Marathon Petroleum in the 1st quarter valued at approximately $97,000. Finally, Magnolia Capital Advisors LLC grew its position in shares of Marathon Petroleum by 353.4% in the 2nd quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company’s stock valued at $9,713,000 after purchasing an additional 43,639 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.

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.