Marathon Petroleum Corp. Price Target Lowered to $77.00 at Morgan Stanley (MPC)
Morgan Stanley reduced their price target on shares of Marathon Petroleum Corp. (NYSE:MPC) from $97.00 to $77.00 in a research note issued on Tuesday, American Banking & Market News reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 19.77% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse downgraded shares of Marathon Petroleum Corp. (NYSE:MPC) from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, September 10th. Separately, analysts at Simmons downgraded shares of Marathon Petroleum Corp. (NYSE:MPC) from an “overweight” rating to a “neutral” rating in a research note to investors on Monday, September 9th. Finally, analysts at Macquarie cut their price target on shares of Marathon Petroleum Corp. (NYSE:MPC) from $83.00 to $82.00 in a research note to investors on Tuesday, September 3rd. They now have a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $87.83.
Shares of Marathon Petroleum Corp. (NYSE:MPC) traded down 0.05% on Tuesday, hitting $64.29. The stock had a trading volume of 3,324,363 shares. Marathon Petroleum Corp. has a 1-year low of $52.36 and a 1-year high of $92.73. The stock’s 50-day moving average is $69. and its 200-day moving average is $76.14. The company has a market cap of $20.128 billion and a P/E ratio of 6.51.
Marathon Petroleum Corp. (NYSE:MPC) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.95 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.90 by $0.05. The company had revenue of $25.70 billion for the quarter, compared to the consensus estimate of $23.57 billion. During the same quarter last year, the company posted $2.53 earnings per share. Marathon Petroleum Corp.’s revenue was up 26.9% compared to the same quarter last year. On average, analysts predict that Marathon Petroleum Corp. will post $6.62 earnings per share for the current fiscal year.
Marathon Petroleum Corporation (NYSE:MPC) is a petroleum product refiners, transporters and marketers in the United States.
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