Marathon Petroleum (NYSE:MPC) Stock Gets Price Target Boost from Barclays

Marathon Petroleum (NYSE:MPC) had its price target boosted by equities research analysts at Barclays from $321.00 to $488.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. Barclays‘s target price would suggest a potential upside of 6.48% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. Weiss Ratings raised Marathon Petroleum from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday. Citigroup restated a “neutral” rating on shares of Marathon Petroleum in a research note on Friday, October 2nd. Evercore set a $330.00 price objective on Marathon Petroleum in a report on Wednesday, August 5th. TD Cowen upped their price objective on Marathon Petroleum from $357.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, Piper Sandler upped their price objective on Marathon Petroleum from $344.00 to $462.00 and gave the company an “overweight” rating in a research report on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average price target of $395.38.

Marathon Petroleum Stock Performance

Shares of MPC traded up $3.26 during mid-day trading on Monday, hitting $458.29. 940,310 shares of the company traded hands, compared to its average volume of 2,489,650. The stock has a market cap of $133.79 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 0.14 and a beta of 0.54. The stock has a 50-day moving average price of $380.41 and a two-hundred day moving average price of $301.33. Marathon Petroleum has a 1 year low of $161.93 and a 1 year high of $470.00. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The company had revenue of $51.99 billion for the quarter, compared to analysts’ expectations of $40.87 billion. During the same quarter last year, the company posted $3.96 earnings per share. The firm’s quarterly revenue was up 53.5% on a year-over-year basis. Equities analysts anticipate that Marathon Petroleum will post 61.46 earnings per share for the current year.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, SVP Shawn Lyon sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $375.75, for a total transaction of $375,750.00. Following the completion of the sale, the senior vice president directly owned 11,194 shares of the company’s stock, valued at approximately $4,206,145.50. This represents a 8.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Erin M. Brzezinski sold 570 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total transaction of $206,790.30. Following the completion of the transaction, the vice president owned 1,576 shares in the company, valued at $571,757.04. The trade was a 26.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 21,691 shares of company stock valued at $7,780,127. Insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Marathon Petroleum

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dupree Financial Group LLC purchased a new stake in Marathon Petroleum during the third quarter worth $225,000. Armstrong Advisory Group Inc. boosted its position in Marathon Petroleum by 44.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 267 shares of the oil and gas company’s stock valued at $106,000 after acquiring an additional 82 shares in the last quarter. GK Wealth Management LLC bought a new stake in Marathon Petroleum during the 3rd quarter valued at $281,000. Riversedge Advisors LLC increased its holdings in shares of Marathon Petroleum by 11.5% in the 3rd quarter. Riversedge Advisors LLC now owns 1,050 shares of the oil and gas company’s stock valued at $415,000 after acquiring an additional 108 shares during the period. Finally, Wedmont Private Capital increased its holdings in shares of Marathon Petroleum by 16.2% in the 3rd quarter. Wedmont Private Capital now owns 8,147 shares of the oil and gas company’s stock valued at $3,221,000 after acquiring an additional 1,133 shares during the period. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE:MPC) is an integrated downstream energy company engaged primarily in refining, marketing and transporting petroleum products. The company converts crude oil and other feedstocks into gasoline, diesel, jet fuel, asphalt, propane and other refined products used by consumers, businesses and industrial customers.

Marathon Petroleum operates refineries and related logistics assets in the United States, with a refining and marketing presence serving markets across the Midwest, Gulf Coast and West Coast.