Marathon Petroleum Corp. Price Target Cut to $75.00 by Analysts at Macquarie (MPC)
Macquarie lowered their price target on shares of Marathon Petroleum Corp. (NYSE:MPC) from $82.00 to $75.00 in a research note issued on Thursday, Analyst Ratings Network reports. The firm currently has a “neutral” rating on the stock. Macquarie’s target price suggests a potential upside of 14.98% from the company’s current price.
Shares of Marathon Petroleum Corp. (NYSE:MPC) traded down 0.17% on Thursday, hitting $65.23. The stock had a trading volume of 2,549,172 shares. Marathon Petroleum Corp. has a one year low of $52.36 and a one year high of $92.73. The stock has a 50-day moving average of $69.10 and a 200-day moving average of $75.8. The company has a market cap of $20.422 billion and a price-to-earnings ratio of 6.61.
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 in the previous year, the company posted $2.53 earnings per share. The company’s revenue for the quarter was up 26.9% on a year-over-year basis. On average, analysts predict that Marathon Petroleum Corp. will post $6.58 earnings per share for the current fiscal year.
A number of other firms have also recently commented on MPC. Analysts at Morgan Stanley cut their price target on shares of Marathon Petroleum Corp. (NYSE:MPC) from $97.00 to $77.00 in a research note to investors on Tuesday. They now have an “overweight” rating on the stock. Separately, 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. Finally, 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $87.25.
Marathon Petroleum Corporation (NYSE:MPC) is a petroleum product refiners, transporters and marketers in the United States.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.