Marathon Petroleum (NYSE:MPC) Price Target Cut to $148.00

Marathon Petroleum (NYSE:MPC – Get Rating) had its price target reduced by equities research analysts at Mizuho from $160.00 to $148.00 in a report issued on Friday, The Fly reports. Mizuho’s price objective would indicate a potential upside of 34.17% from the company’s previous close.

Several other equities analysts have also issued reports on MPC. Wells Fargo & Company dropped their target price on shares of Marathon Petroleum from $135.00 to $124.00 in a report on Wednesday, May 3rd. Raymond James boosted their target price on shares of Marathon Petroleum from $155.00 to $165.00 and gave the company a “strong-buy” rating in a report on Wednesday, February 1st. StockNews.com upgraded shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a report on Thursday, May 11th. UBS Group assumed coverage on shares of Marathon Petroleum in a report on Wednesday, March 8th. They issued a “buy” rating and a $165.00 target price on the stock. Finally, Cowen boosted their target price on shares of Marathon Petroleum from $133.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, February 1st. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $142.13.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $110.31 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.90 and a debt-to-equity ratio of 0.83. Marathon Petroleum has a twelve month low of $77.62 and a twelve month high of $138.83. The stock has a market cap of $46.80 billion, a price-to-earnings ratio of 3.32, a P/E/G ratio of 0.92 and a beta of 1.64. The company’s fifty day moving average is $122.74 and its 200 day moving average is $121.38.

Marathon Petroleum (NYSE:MPC – Get Rating) last issued its quarterly earnings data on Tuesday, May 2nd. The oil and gas company reported $6.09 earnings per share for the quarter, topping the consensus estimate of $5.23 by $0.86. Marathon Petroleum had a net margin of 9.28% and a return on equity of 46.49%. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $35.17 billion. During the same quarter in the previous year, the firm posted $1.49 earnings per share. Marathon Petroleum’s revenue for the quarter was down 8.6% on a year-over-year basis. Sell-side analysts forecast that Marathon Petroleum will post 18.9 EPS for the current year.

Marathon Petroleum announced that its board has authorized a share buyback program on Tuesday, May 2nd that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to buy up to 10.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Marathon Petroleum news, SVP Suzanne Gagle sold 60,019 shares of the company’s stock in a transaction dated Tuesday, April 4th. The shares were sold at an average price of $134.28, for a total value of $8,059,351.32. Following the completion of the sale, the senior vice president now directly owns 45,997 shares of the company’s stock, valued at approximately $6,176,477.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Kim K.W. Rucker sold 6,000 shares of the stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $130.00, for a total transaction of $780,000.00. Following the completion of the transaction, the director now directly owns 34,950 shares of the company’s stock, valued at approximately $4,543,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Suzanne Gagle sold 60,019 shares of the firm’s stock in a transaction that occurred on Tuesday, April 4th. The stock was sold at an average price of $134.28, for a total transaction of $8,059,351.32. Following the completion of the transaction, the senior vice president now directly owns 45,997 shares of the company’s stock, valued at $6,176,477.16. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. First Bank & Trust lifted its stake in Marathon Petroleum by 2.4% in the 1st quarter. First Bank & Trust now owns 3,673 shares of the oil and gas company’s stock worth $495,000 after purchasing an additional 87 shares in the last quarter. Global Assets Advisory LLC raised its position in shares of Marathon Petroleum by 3.4% during the 4th quarter. Global Assets Advisory LLC now owns 2,699 shares of the oil and gas company’s stock valued at $314,000 after buying an additional 89 shares in the last quarter. James Investment Research Inc. raised its position in shares of Marathon Petroleum by 65.2% during the 1st quarter. James Investment Research Inc. now owns 228 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 90 shares in the last quarter. Strategic Blueprint LLC raised its position in shares of Marathon Petroleum by 1.4% during the 4th quarter. Strategic Blueprint LLC now owns 6,681 shares of the oil and gas company’s stock valued at $778,000 after buying an additional 91 shares in the last quarter. Finally, FirstPurpose Wealth LLC raised its position in shares of Marathon Petroleum by 3.7% during the 4th quarter. FirstPurpose Wealth LLC now owns 2,563 shares of the oil and gas company’s stock valued at $298,000 after buying an additional 92 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

Marathon Petroleum Company Profile

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Marathon Petroleum Corp. is an independent company, which engages in the refining, marketing, and transportation of petroleum products in the United States. It operates through the following segments: Refining and Marketing, and Midstream. The Refining and Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals, and trucks that the company owns or operates.