Marathon Petroleum (NYSE:MPC) Price Target Raised to $231.00 at Piper Sandler

Marathon Petroleum (NYSE:MPC) had its target price hoisted by research analysts at Piper Sandler from $220.00 to $231.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Piper Sandler’s price objective would suggest a potential upside of 14.86% from the company’s current price.

Other analysts have also issued reports about the stock. BMO Capital Markets increased their price target on shares of Marathon Petroleum from $195.00 to $208.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Evercore ISI upped their price objective on shares of Marathon Petroleum from $170.00 to $210.00 and gave the company an “in-line” rating in a research note on Friday, September 19th. Raymond James Financial set a $200.00 target price on shares of Marathon Petroleum in a research report on Tuesday, November 4th. TD Cowen lowered their price target on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Marathon Petroleum in a research note on Thursday, October 9th. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $200.69.

Marathon Petroleum Stock Up 3.4%

Shares of MPC traded up $6.53 during mid-day trading on Friday, reaching $201.11. The company’s stock had a trading volume of 369,441 shares, compared to its average volume of 2,425,076. The company has a market cap of $60.46 billion, a price-to-earnings ratio of 21.45, a price-to-earnings-growth ratio of 3.82 and a beta of 0.90. The business has a fifty day moving average of $189.25 and a 200 day moving average of $173.59. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 1.31. Marathon Petroleum has a 1 year low of $115.10 and a 1 year high of $202.25.

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

Hedge Funds Weigh In On Marathon Petroleum

Several hedge funds have recently bought and sold shares of MPC. Associated Banc Corp raised its stake in shares of Marathon Petroleum by 2.1% in the 3rd quarter. Associated Banc Corp now owns 2,475 shares of the oil and gas company’s stock valued at $477,000 after acquiring an additional 52 shares in the last quarter. CoreCap Advisors LLC grew its holdings in Marathon Petroleum by 2.6% during the third quarter. CoreCap Advisors LLC now owns 2,363 shares of the oil and gas company’s stock valued at $456,000 after purchasing an additional 59 shares during the last quarter. Baker Tilly Wealth Management LLC raised its position in shares of Marathon Petroleum by 2.8% in the second quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company’s stock valued at $370,000 after purchasing an additional 60 shares during the period. CI Investments Inc. lifted its stake in shares of Marathon Petroleum by 1.8% in the third quarter. CI Investments Inc. now owns 3,336 shares of the oil and gas company’s stock worth $643,000 after buying an additional 60 shares during the last quarter. Finally, CHICAGO TRUST Co NA lifted its stake in shares of Marathon Petroleum by 3.9% in the second quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company’s stock worth $280,000 after buying an additional 63 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

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.