Marathon Petroleum Corp. Stock Rating Reaffirmed by Bank of America (MPC)
Marathon Petroleum Corp. (NYSE:MPC)‘s stock had its “neutral” rating restated by research analysts at Bank of America in a report released on Friday, Stock Ratings Network.com reports. They currently have a $100.00 price target on the stock, up from their previous price target of $95.00. Bank of America’s target price would indicate a potential upside of 4.78% from the stock’s previous close.
The analysts wrote, “After doubling consensus in 4Q13, MPC missed on planned downtime exacerbated by weather with opportunity costs in the quarter pegged at $150mm pretax; absent this loss EPS would have been in line. Notably MPC managed to replicate the same strong margin capture with the continued benefits of access to what is a tight Florida market. Otherwise an asset footprint favorably exposed to the incremental shift in surplus production towards the US Gulf Coast, defensive characteristics from its position in MPLX and strong retail presence all support MPC’s outlook. But we maintain our view that strong performance has lifted the shares within sight of fair value.”
Marathon Petroleum Corp. (NYSE:MPC) traded up 1.30% on Friday, hitting $96.68. The stock had a trading volume of 793,845 shares. Marathon Petroleum Corp. has a 52 week low of $61.32 and a 52 week high of $97.28. The stock has a 50-day moving average of $89.43 and a 200-day moving average of $84.33. The company has a market cap of $28.478 billion and a P/E ratio of 14.37.
Marathon Petroleum Corp. (NYSE:MPC) last announced its earnings results on Thursday, May 1st. The company reported $0.67 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.05 by $0.38. The company had revenue of $23.35 billion for the quarter, compared to the consensus estimate of $23.26 billion. During the same quarter last year, the company posted $2.17 earnings per share. Marathon Petroleum Corp.’s revenue was up .0% compared to the same quarter last year. On average, analysts predict that Marathon Petroleum Corp. will post $9.10 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Monday, May 19th.
A number of other firms have also recently commented on MPC. Analysts at Cowen and Company raised their price target on shares of Marathon Petroleum Corp. from $100.00 to $120.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at Wolfe Research initiated coverage on shares of Marathon Petroleum Corp. in a research note on Tuesday, April 1st. They set a “market perform” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Marathon Petroleum Corp. in a research note on Wednesday, March 26th. They now have a $95.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Marathon Petroleum Corp. has an average rating of “Buy” and an average price target of $93.27.
Marathon Petroleum Corporation (NYSE:MPC) is a petroleum product refiners, transporters and marketers in the United States.
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