Marathon Petroleum Corp. Price Target Cut to $70.00 (MPC)
Equities research analysts at Imperial Capital cut their price target on shares of Marathon Petroleum Corp. (NYSE:MPC) from $79.00 to $70.00 in a research note issued to investors on Wednesday, Stock Ratings Network reports. The firm currently has an “outperform” rating on the stock. Imperial Capital’s price objective indicates a potential upside of 12.00% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Oppenheimer downgraded shares of Marathon Petroleum Corp. from an “outperform” rating to a “market perform” rating in a research note to investors on Friday, October 4th. Separately, analysts at Macquarie cut their price target on shares of Marathon Petroleum Corp. from $82.00 to $75.00 in a research note to investors on Thursday, October 3rd. They now have a “neutral” rating on the stock. Finally, analysts at Morgan Stanley cut their price target on shares of Marathon Petroleum Corp. from $97.00 to $77.00 in a research note to investors on Tuesday, October 1st. They now have an “overweight” 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 stock. The stock currently has a consensus rating of “Hold” and an average target price of $86.18.
Marathon Petroleum Corp. (NYSE:MPC) opened at 62.50 on Wednesday. Marathon Petroleum Corp. has a 1-year low of $52.36 and a 1-year high of $92.73. The stock has a 50-day moving average of $68.34 and a 200-day moving average of $75.0. The company has a market cap of $19.567 billion and a P/E ratio of 6.33.
Marathon Petroleum Corp. (NYSE:MPC) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.95 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $2.53 earnings per share. The company’s quarterly revenue was up 26.9% on a year-over-year basis.
Marathon Petroleum Corporation (NYSE:MPC) is a petroleum product refiners, transporters and marketers in the United States.
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