Raymond James Financial Cuts Marathon Petroleum (NYSE:MPC) Price Target to $205.00

Marathon Petroleum (NYSE:MPC) had its price target cut by equities research analysts at Raymond James Financial from $215.00 to $205.00 in a research note issued to investors on Monday,MarketScreener reports. The firm currently has an “outperform” rating on the oil and gas company’s stock. Raymond James Financial’s price target would indicate a potential upside of 24.03% from the company’s previous close.

A number of other equities analysts have also weighed in on MPC. Weiss Ratings restated a “hold (c)” rating on shares of Marathon Petroleum in a research report on Wednesday, October 8th. UBS Group increased their price objective on shares of Marathon Petroleum from $203.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Wells Fargo & Company reduced their price target on shares of Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. BMO Capital Markets reissued an “outperform” rating on shares of Marathon Petroleum in a research report on Tuesday, December 9th. Finally, JPMorgan Chase & Co. raised their price objective on Marathon Petroleum from $183.00 to $211.00 and gave the company a “neutral” rating in a research report on Wednesday, November 12th. Eight analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Marathon Petroleum currently has an average rating of “Hold” and an average target price of $203.07.

Marathon Petroleum Stock Up 0.3%

Shares of NYSE:MPC opened at $165.28 on Monday. The firm has a market cap of $49.68 billion, a P/E ratio of 17.62, a PEG ratio of 0.85 and a beta of 0.72. The business’s 50 day simple moving average is $188.95 and its two-hundred day simple moving average is $180.25. Marathon Petroleum has a 52-week low of $115.10 and a 52-week high of $202.29. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.79 and a current ratio of 1.32.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.01. The firm had revenue of $34.81 billion during the quarter, compared to analyst estimates of $31.06 billion. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. As a group, research analysts forecast that Marathon Petroleum will post 8.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Marathon Petroleum

Several hedge funds have recently bought and sold shares of MPC. Vanguard Group Inc. grew its stake in shares of Marathon Petroleum by 11.2% in the second quarter. Vanguard Group Inc. now owns 38,866,104 shares of the oil and gas company’s stock worth $6,456,049,000 after acquiring an additional 3,924,713 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Marathon Petroleum by 14.8% during the second quarter. Geode Capital Management LLC now owns 8,013,213 shares of the oil and gas company’s stock worth $1,325,598,000 after buying an additional 1,033,645 shares during the period. Boston Partners lifted its stake in Marathon Petroleum by 2.3% in the third quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock worth $1,214,522,000 after acquiring an additional 141,691 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Marathon Petroleum by 12.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,619,398 shares of the oil and gas company’s stock valued at $933,438,000 after purchasing an additional 637,050 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Marathon Petroleum during the 2nd quarter worth $527,197,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.