Marathon Petroleum (NYSE:MPC) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Marathon Petroleum (NYSE:MPC) had its price target boosted by analysts at The Goldman Sachs Group from $291.00 to $376.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the oil and gas company’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 20.55% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Morgan Stanley upped their target price on shares of Marathon Petroleum from $233.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Piper Sandler boosted their price target on shares of Marathon Petroleum from $197.00 to $228.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Mizuho increased their price objective on shares of Marathon Petroleum from $224.00 to $284.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. JPMorgan Chase & Co. raised their price objective on shares of Marathon Petroleum from $235.00 to $257.00 in a research note on Wednesday, May 6th. Finally, Raymond James Financial raised their price target on Marathon Petroleum from $300.00 to $335.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Eleven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus price target of $298.69.

Marathon Petroleum Trading Down 1.2%

MPC stock opened at $311.92 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31. Marathon Petroleum has a twelve month low of $158.00 and a twelve month high of $326.92. The company has a market cap of $91.06 billion, a P/E ratio of 20.36, a PEG ratio of 0.42 and a beta of 0.52. The business has a fifty day moving average of $267.58 and a 200-day moving average of $232.08.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.91. The business had revenue of $34.20 billion for the quarter, compared to analysts’ expectations of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.24) earnings per share. As a group, equities research analysts expect that Marathon Petroleum will post 35.82 EPS for the current year.

Insider Buying and Selling

In related news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the sale, the vice president owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is owned by company insiders.

Institutional Trading of Marathon Petroleum

A number of large investors have recently added to or reduced their stakes in MPC. Norges Bank bought a new position in shares of Marathon Petroleum in the fourth quarter valued at about $472,312,000. Capital Wealth Planning LLC lifted its position in Marathon Petroleum by 49,392.0% during the fourth quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock worth $245,157,000 after acquiring an additional 1,495,097 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Marathon Petroleum by 3,816.8% during the fourth quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company’s stock worth $212,517,000 after acquiring an additional 1,273,386 shares during the period. GHE LLC grew its position in shares of Marathon Petroleum by 1,939.8% in the first quarter. GHE LLC now owns 649,542 shares of the oil and gas company’s stock valued at $158,605,000 after purchasing an additional 617,699 shares during the last quarter. Finally, Man Group plc lifted its holdings in Marathon Petroleum by 2,175.0% during the 4th quarter. Man Group plc now owns 568,790 shares of the oil and gas company’s stock worth $92,502,000 after purchasing an additional 543,788 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

About Marathon Petroleum

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.