Marathon Petroleum (NYSE:MPC – Get Free Report) had its price target boosted by Wells Fargo & Company from $142.00 to $157.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 0.24% from the stock’s current price.
Several other equities research analysts have also recently weighed in on the stock. Jefferies Financial Group upped their price target on shares of Marathon Petroleum from $140.00 to $164.00 and gave the stock a “buy” rating in a research report on Monday, August 7th. StockNews.com started coverage on Marathon Petroleum in a report on Thursday, August 17th. They set a “buy” rating for the company. Bank of America downgraded Marathon Petroleum from a “buy” rating to a “neutral” rating and lifted their price target for the company from $159.00 to $162.00 in a report on Tuesday, August 15th. Barclays upped their price objective on Marathon Petroleum from $132.00 to $152.00 and gave the stock an “overweight” rating in a research note on Monday, August 7th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $150.00 target price on shares of Marathon Petroleum in a research note on Wednesday, August 2nd. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $153.00.
Marathon Petroleum Price Performance
Marathon Petroleum (NYSE:MPC – Get Free Report) last released its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $5.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.55 by $0.77. Marathon Petroleum had a net margin of 8.01% and a return on equity of 36.33%. The company had revenue of $36.82 billion during the quarter, compared to analysts’ expectations of $32.60 billion. During the same period in the previous year, the company earned $10.61 EPS. The firm’s quarterly revenue was down 32.2% on a year-over-year basis. On average, equities analysts anticipate that Marathon Petroleum will post 21.57 EPS for the current fiscal year.
Insider Buying and Selling at Marathon Petroleum
In related news, VP Timothy J. Aydt sold 4,913 shares of Marathon Petroleum stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $145.26, for a total transaction of $713,662.38. Following the completion of the sale, the vice president now owns 18,995 shares of the company’s stock, valued at $2,759,213.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Timothy J. Aydt sold 4,913 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $145.26, for a total value of $713,662.38. Following the completion of the transaction, the vice president now owns 18,995 shares of the company’s stock, valued at approximately $2,759,213.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Gregory Scott Floerke sold 8,189 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $145.80, for a total value of $1,193,956.20. Following the sale, the chief operating officer now directly owns 28,633 shares in the company, valued at $4,174,691.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,188 shares of company stock worth $3,890,973. 0.28% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Marathon Petroleum
A number of institutional investors have recently modified their holdings of MPC. Claro Advisors LLC purchased a new stake in shares of Marathon Petroleum during the first quarter worth about $232,000. BOKF NA increased its position in shares of Marathon Petroleum by 9.0% during the 1st quarter. BOKF NA now owns 24,327 shares of the oil and gas company’s stock worth $3,280,000 after purchasing an additional 2,014 shares during the last quarter. Commerce Bank raised its stake in shares of Marathon Petroleum by 1.2% in the 1st quarter. Commerce Bank now owns 34,416 shares of the oil and gas company’s stock valued at $4,640,000 after acquiring an additional 392 shares during the period. MGO One Seven LLC lifted its stake in Marathon Petroleum by 52.8% during the first quarter. MGO One Seven LLC now owns 16,299 shares of the oil and gas company’s stock worth $2,198,000 after purchasing an additional 5,631 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its stake in Marathon Petroleum by 3.0% during the 4th quarter. Baird Financial Group Inc. now owns 127,805 shares of the oil and gas company’s stock worth $14,875,000 after acquiring an additional 3,690 shares in the last quarter. 74.93% of the stock is currently owned by institutional investors and hedge funds.
About Marathon Petroleum
Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.
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