Marathon Petroleum (NYSE:MPC) Price Target Cut to $145.00

Marathon Petroleum (NYSE:MPC) had its target price lowered by stock analysts at Piper Sandler from $168.00 to $145.00 in a report released on Friday, Benzinga reports. The firm presently has a “neutral” rating on the oil and gas company’s stock. Piper Sandler’s target price suggests a potential downside of 11.80% from the stock’s current price.

Several other equities research analysts have also weighed in on the stock. Tudor Pickering lowered shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 9th. Morgan Stanley reduced their target price on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Wolfe Research started coverage on Marathon Petroleum in a research report on Thursday, July 18th. They set an “outperform” rating and a $200.00 price target on the stock. TD Cowen lifted their price objective on Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, StockNews.com cut Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $197.69.

Marathon Petroleum Stock Performance

MPC stock opened at $164.39 on Friday. Marathon Petroleum has a twelve month low of $139.32 and a twelve month high of $221.11. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. The company has a market cap of $57.92 billion, a P/E ratio of 8.21, a price-to-earnings-growth ratio of 2.09 and a beta of 1.38. The business’s fifty day moving average is $169.99 and its 200-day moving average is $179.80.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. The firm had revenue of $38.36 billion for the quarter, compared to analysts’ expectations of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The company’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business earned $5.32 earnings per share. Equities research analysts forecast that Marathon Petroleum will post 12.68 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MPC. Heritage Wealth Management Inc. bought a new position in shares of Marathon Petroleum in the second quarter valued at $1,691,000. Sanctuary Advisors LLC acquired a new position in shares of Marathon Petroleum during the 2nd quarter worth about $26,017,000. Gordian Capital Singapore Pte Ltd acquired a new stake in Marathon Petroleum in the 2nd quarter valued at about $494,000. 3Chopt Investment Partners LLC grew its holdings in Marathon Petroleum by 0.8% during the second quarter. 3Chopt Investment Partners LLC now owns 10,215 shares of the oil and gas company’s stock worth $1,772,000 after purchasing an additional 77 shares during the period. Finally, SPC Financial Inc. increased its position in Marathon Petroleum by 3.0% during the second quarter. SPC Financial Inc. now owns 26,279 shares of the oil and gas company’s stock worth $4,559,000 after buying an additional 756 shares during the last quarter. Institutional investors and hedge funds 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.