Stock analysts at Credit Suisse Group initiated coverage on shares of Marathon Petroleum (NYSE:MPC) in a research report issued on Wednesday, The Fly reports. The brokerage set an “outperform” rating on the oil and gas company’s stock.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Marathon Petroleum from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Monday, October 16th. Edward Jones upgraded shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. Jefferies Group restated a “buy” rating and issued a $64.00 target price (down from $65.00) on shares of Marathon Petroleum in a research note on Wednesday, September 6th. Cowen restated a “buy” rating on shares of Marathon Petroleum in a research note on Tuesday, November 14th. Finally, Citigroup raised their target price on shares of Marathon Petroleum from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $66.25.
Shares of Marathon Petroleum (NYSE MPC) opened at $67.18 on Wednesday. The firm has a market cap of $32,810.00, a P/E ratio of 20.99, a price-to-earnings-growth ratio of 1.19 and a beta of 1.62. Marathon Petroleum has a one year low of $46.88 and a one year high of $67.25. The company has a quick ratio of 0.80, a current ratio of 1.52 and a debt-to-equity ratio of 0.64.
In related news, VP Raymond L. Brooks sold 13,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $62.26, for a total transaction of $809,380.00. Following the completion of the transaction, the vice president now owns 32,205 shares of the company’s stock, valued at $2,005,083.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Anthony R. Kenney sold 77,578 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $62.35, for a total transaction of $4,836,988.30. The disclosure for this sale can be found here. Insiders have sold 149,854 shares of company stock valued at $9,482,177 over the last quarter. Insiders own 1.05% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Crow Point Partners LLC purchased a new position in Marathon Petroleum in the third quarter valued at $128,000. Kohmann Bosshard Financial Services LLC purchased a new position in Marathon Petroleum in the third quarter valued at $135,000. YorkBridge Wealth Partners LLC increased its holdings in Marathon Petroleum by 7.3% in the second quarter. YorkBridge Wealth Partners LLC now owns 2,937 shares of the oil and gas company’s stock valued at $156,000 after buying an additional 200 shares in the last quarter. BB&T Investment Services Inc. increased its holdings in Marathon Petroleum by 118.2% in the third quarter. BB&T Investment Services Inc. now owns 3,063 shares of the oil and gas company’s stock valued at $178,000 after buying an additional 1,659 shares in the last quarter. Finally, Cable Hill Partners LLC increased its holdings in Marathon Petroleum by 886.1% in the third quarter. Cable Hill Partners LLC now owns 3,254 shares of the oil and gas company’s stock valued at $182,000 after buying an additional 2,924 shares in the last quarter. 80.61% of the stock is owned by hedge funds and other institutional investors.
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Marathon Petroleum Company Profile
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.
