Marathon Petroleum (NYSE:MPC) Stock Price Expected to Rise, Raymond James Financial Analyst Says

Marathon Petroleum (NYSE:MPC) had its price objective boosted by equities research analysts at Raymond James Financial from $210.00 to $270.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the oil and gas company’s stock. Raymond James Financial’s price objective would indicate a potential upside of 8.81% from the stock’s previous close.

Several other brokerages have also recently weighed in on MPC. TD Cowen raised their target price on Marathon Petroleum from $183.00 to $198.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. JPMorgan Chase & Co. cut their price target on shares of Marathon Petroleum from $211.00 to $179.00 and set a “neutral” rating for the company in a report on Tuesday, January 13th. Weiss Ratings lowered shares of Marathon Petroleum from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, March 19th. The Goldman Sachs Group lifted their price objective on shares of Marathon Petroleum from $211.00 to $239.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. Finally, Citigroup boosted their target price on shares of Marathon Petroleum from $182.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Ten research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $209.19.

Marathon Petroleum Stock Performance

MPC opened at $248.14 on Wednesday. The business has a 50 day moving average price of $204.15 and a two-hundred day moving average price of $191.79. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.26 and a quick ratio of 0.74. The company has a market capitalization of $73.08 billion, a price-to-earnings ratio of 18.59, a price-to-earnings-growth ratio of 0.54 and a beta of 0.69. Marathon Petroleum has a 1-year low of $115.10 and a 1-year high of $249.76.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.73 by $0.34. Marathon Petroleum had a return on equity of 13.90% and a net margin of 2.99%.The company had revenue of $32.57 billion for the quarter, compared to analysts’ expectations of $30.89 billion. During the same period last year, the firm earned $0.77 EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis. Research analysts predict that Marathon Petroleum will post 8.47 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Ricky D. Hessling sold 1,810 shares of Marathon Petroleum stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $224.78, for a total value of $406,851.80. Following the transaction, the insider owned 10,188 shares of the company’s stock, valued at approximately $2,290,058.64. This trade represents a 15.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 4,473 shares of company stock valued at $1,015,428. Company insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Delos Wealth Advisors LLC purchased a new stake in shares of Marathon Petroleum in the 2nd quarter valued at approximately $25,000. Navalign LLC purchased a new position in Marathon Petroleum during the 4th quarter worth approximately $30,000. Kohmann Bosshard Financial Services LLC purchased a new position in Marathon Petroleum during the 4th quarter worth approximately $31,000. Berbice Capital Management LLC raised its stake in Marathon Petroleum by 100.0% during the 4th quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 100 shares during the period. Finally, WFA of San Diego LLC purchased a new stake in shares of Marathon Petroleum in the second quarter valued at $33,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.