Marathon Petroleum (NYSE:MPC) Receives New Coverage from Analysts at Bank of America

Analysts at Bank of America initiated coverage on shares of Marathon Petroleum (NYSE:MPC) in a research report issued to clients and investors on Thursday, StockNewsAPI reports. The firm set a “neutral” rating and a $174.00 price target on the oil and gas company’s stock. Bank of America‘s price target indicates a potential upside of 10.15% from the stock’s previous close.

Several other research firms also recently commented on MPC. TD Cowen increased their price objective on Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Wolfe Research started coverage on Marathon Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price objective for the company. Tudor, Pickering, Holt & Co. downgraded Marathon Petroleum from a “buy” rating to a “sell” rating in a report on Monday, September 9th. Citigroup cut their price objective on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Finally, Piper Sandler cut their price objective on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $187.00.

Marathon Petroleum Trading Up 0.6 %

NYSE:MPC opened at $157.97 on Thursday. Marathon Petroleum has a twelve month low of $140.98 and a twelve month high of $221.11. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. The business has a 50 day moving average price of $168.39 and a two-hundred day moving average price of $176.35. The company has a market cap of $55.66 billion, a P/E ratio of 7.89, a price-to-earnings-growth ratio of 2.65 and a beta of 1.37.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. The firm had revenue of $38.36 billion during the quarter, compared to the consensus estimate of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The business’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.32 EPS. As a group, analysts expect that Marathon Petroleum will post 10.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Global Assets Advisory LLC bought a new position in Marathon Petroleum during the 1st quarter worth $36,823,000. Founders Financial Securities LLC increased its position in shares of Marathon Petroleum by 22.8% in the second quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock worth $863,000 after purchasing an additional 924 shares during the period. Fidelis Capital Partners LLC increased its position in shares of Marathon Petroleum by 3.2% in the first quarter. Fidelis Capital Partners LLC now owns 3,050 shares of the oil and gas company’s stock worth $615,000 after purchasing an additional 94 shares during the period. LRI Investments LLC bought a new position in shares of Marathon Petroleum in the first quarter worth $97,000. Finally, Magnolia Capital Advisors LLC increased its position in shares of Marathon Petroleum by 353.4% in the second quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company’s stock worth $9,713,000 after purchasing an additional 43,639 shares during the period. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. 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.