Marathon Petroleum (NYSE:MPC) Price Target Cut to $182.00 by Analysts at Wells Fargo & Company

Marathon Petroleum (NYSE:MPC) had its price target cut by Wells Fargo & Company from $186.00 to $182.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 27.84% from the company’s previous close.

A number of other equities analysts have also issued reports on the stock. BMO Capital Markets dropped their target price on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Piper Sandler cut their price target on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Citigroup reduced their price target on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Morgan Stanley decreased their price objective on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Finally, Barclays lowered their price target on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $183.73.

Marathon Petroleum Stock Up 0.5 %

MPC opened at $142.36 on Friday. The company has a market capitalization of $45.75 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 2.56 and a beta of 1.42. The business has a 50-day moving average of $147.86 and a 200-day moving average of $160.35. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. Marathon Petroleum has a fifty-two week low of $130.54 and a fifty-two week high of $221.11.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.90. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The company had revenue of $35.37 billion during the quarter, compared to the consensus estimate of $34.34 billion. During the same quarter in the prior year, the company posted $8.14 EPS. The firm’s revenue was down 14.9% on a year-over-year basis. Equities research analysts forecast that Marathon Petroleum will post 9.47 EPS for the current fiscal year.

Marathon Petroleum declared that its Board of Directors has initiated a share repurchase plan on Tuesday, November 5th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to repurchase up to 10% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Marathon Petroleum

In other news, Director Jeffrey C. Campbell acquired 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were bought at an average price of $149.61 per share, with a total value of $897,660.00. Following the acquisition, the director now directly owns 6,090 shares in the company, valued at $911,124.90. The trade was a 6,666.67 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Marathon Petroleum

A number of institutional investors have recently added to or reduced their stakes in MPC. Gladius Capital Management LP bought a new position in shares of Marathon Petroleum during the third quarter worth about $26,000. MeadowBrook Investment Advisors LLC grew its holdings in Marathon Petroleum by 88.9% in the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 80 shares during the period. True Wealth Design LLC raised its stake in Marathon Petroleum by 672.7% during the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after buying an additional 148 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in Marathon Petroleum in the 3rd quarter valued at $30,000. Finally, Darwin Wealth Management LLC acquired a new position in Marathon Petroleum during the 3rd quarter valued at about $33,000. 76.77% of the stock is owned by institutional investors.

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.