Raymond James Forecasts Strong Price Appreciation for Marathon Petroleum (NYSE:MPC) Stock

Marathon Petroleum (NYSE:MPC) had its target price upped by analysts at Raymond James from $190.00 to $192.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “strong-buy” rating on the oil and gas company’s stock. Raymond James’ target price suggests a potential upside of 25.96% from the stock’s current price.

A number of other equities analysts also recently commented on the company. BMO Capital Markets decreased their price target on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Wells Fargo & Company dropped their price target on Marathon Petroleum from $186.00 to $182.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Bank of America began coverage on shares of Marathon Petroleum in a research note on Thursday, October 17th. They set a “neutral” rating and a $174.00 target price for the company. JPMorgan Chase & Co. decreased their price target on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, Mizuho dropped their price objective on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $181.20.

Marathon Petroleum Stock Up 0.5 %

Marathon Petroleum stock traded up $0.74 during midday trading on Friday, hitting $152.44. 723,437 shares of the stock were exchanged, compared to its average volume of 2,673,152. The company has a 50 day moving average price of $147.82 and a two-hundred day moving average price of $159.52. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The firm has a market cap of $48.99 billion, a P/E ratio of 12.10, a P/E/G ratio of 2.51 and a beta of 1.42. Marathon Petroleum has a 1 year low of $130.54 and a 1 year high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 16.19% and a net margin of 3.15%. Marathon Petroleum’s quarterly revenue was down 14.9% on a year-over-year basis. During the same quarter last year, the firm earned $8.14 EPS. On average, sell-side analysts predict that Marathon Petroleum will post 9.38 earnings per share for the current fiscal year.

Marathon Petroleum announced that its Board of Directors has authorized a share buyback program on Tuesday, November 5th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Jeffrey C. Campbell purchased 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were purchased at an average price of $149.61 per share, with a total value of $897,660.00. Following the purchase, the director now owns 6,090 shares of the company’s stock, valued at $911,124.90. This trade represents a 6,666.67 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MPC. Gladius Capital Management LP acquired a new position in Marathon Petroleum in the 3rd quarter worth approximately $26,000. MeadowBrook Investment Advisors LLC lifted its holdings in shares of Marathon Petroleum by 88.9% in the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 80 shares in the last quarter. True Wealth Design LLC grew its holdings in shares of Marathon Petroleum by 672.7% during the third quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 148 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in Marathon Petroleum during the third quarter valued at $30,000. Finally, Darwin Wealth Management LLC acquired a new stake in Marathon Petroleum during the 3rd quarter worth about $33,000. 76.77% of the stock is currently 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.