Marathon Petroleum (NYSE:MPC – Get Free Report)‘s stock had its “buy” rating reiterated by research analysts at TD Cowen in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. They currently have a $170.00 price target on the oil and gas company’s stock. TD Cowen’s price target points to a potential upside of 11.45% from the stock’s current price.
A number of other research firms also recently commented on MPC. JPMorgan Chase & Co. cut their target price on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Barclays cut their target price on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Citigroup cut their target price on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Bank of America initiated coverage on shares of Marathon Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $174.00 target price on the stock. Finally, Wells Fargo & Company raised their target price on shares of Marathon Petroleum from $183.00 to $186.00 and gave the company an “overweight” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $185.27.
Read Our Latest Stock Report on Marathon Petroleum
Marathon Petroleum Trading Down 0.3 %
Marathon Petroleum (NYSE:MPC – Get Free Report) last released its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.90. The firm had revenue of $35.37 billion during the quarter, compared to analyst estimates of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The business’s revenue was down 14.9% on a year-over-year basis. During the same quarter last year, the business earned $8.14 EPS. As a group, sell-side analysts expect that Marathon Petroleum will post 9.5 EPS for the current fiscal year.
Marathon Petroleum announced that its board has approved a share repurchase program on Tuesday, November 5th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 10% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
Insider Buying and Selling at Marathon Petroleum
In other news, Director Jeffrey C. Campbell bought 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was purchased at an average cost of $149.61 per share, for a total transaction of $897,660.00. Following the purchase, the director now directly owns 6,090 shares in the company, valued at approximately $911,124.90. This trade represents a 6,666.67 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.21% of the company’s stock.
Institutional Investors Weigh In On Marathon Petroleum
A number of large investors have recently modified their holdings of MPC. Wellington Management Group LLP lifted its position in shares of Marathon Petroleum by 342.1% during the third quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock worth $911,274,000 after purchasing an additional 4,328,470 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Marathon Petroleum by 19,153.8% during the third quarter. International Assets Investment Management LLC now owns 1,311,182 shares of the oil and gas company’s stock worth $213,605,000 after purchasing an additional 1,304,372 shares in the last quarter. ING Groep NV acquired a new stake in shares of Marathon Petroleum during the third quarter worth about $114,107,000. Assenagon Asset Management S.A. lifted its position in shares of Marathon Petroleum by 980.3% during the second quarter. Assenagon Asset Management S.A. now owns 684,718 shares of the oil and gas company’s stock worth $118,785,000 after purchasing an additional 621,336 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in shares of Marathon Petroleum by 212.9% during the third quarter. National Bank of Canada FI now owns 846,756 shares of the oil and gas company’s stock worth $137,945,000 after purchasing an additional 576,119 shares in the last quarter. Hedge funds and other 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.
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