Wells Fargo & Company Cuts Marathon Petroleum (NYSE:MPC) Price Target to $182.00

Marathon Petroleum (NYSE:MPC) had its price target lowered by analysts at Wells Fargo & Company from $186.00 to $182.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 27.84% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. Morgan Stanley cut their price target on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Bank of America assumed coverage on Marathon Petroleum in a research note on Thursday, October 17th. They set a “neutral” rating and a $174.00 price target on the stock. JPMorgan Chase & Co. dropped their target price on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Mizuho cut their price target on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Finally, Citigroup reduced their target price on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $183.73.

Marathon Petroleum Price Performance

NYSE:MPC opened at $142.36 on Friday. Marathon Petroleum has a one year low of $130.54 and a one year high of $221.11. The stock has a market cap of $45.75 billion, a PE ratio of 11.28, a P/E/G ratio of 2.56 and a beta of 1.42. The stock has a 50 day moving average price of $147.86 and a 200 day moving average price of $160.35. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results 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. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The business had revenue of $35.37 billion during the quarter, compared to analysts’ expectations of $34.34 billion. During the same period last year, the business earned $8.14 earnings per share. The business’s revenue for the quarter was down 14.9% on a year-over-year basis. Equities research analysts expect that Marathon Petroleum will post 9.47 EPS for the current fiscal year.

Marathon Petroleum declared that its Board of Directors has authorized a stock repurchase program on Tuesday, November 5th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Marathon Petroleum

In related news, Director Jeffrey C. Campbell purchased 6,000 shares of Marathon Petroleum stock in a transaction that occurred on Wednesday, December 4th. The shares were purchased at an average cost of $149.61 per share, with a total value of $897,660.00. Following the transaction, the director now owns 6,090 shares of the company’s stock, valued at approximately $911,124.90. The trade was a 6,666.67 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.21% of the stock is owned by company insiders.

Institutional Investors Weigh In On Marathon Petroleum

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in shares of Marathon Petroleum by 0.9% during the second quarter. EverSource Wealth Advisors LLC now owns 7,165 shares of the oil and gas company’s stock worth $1,268,000 after purchasing an additional 61 shares during the last quarter. Paragon Capital Management Inc. raised its stake in shares of Marathon Petroleum by 0.6% during the second quarter. Paragon Capital Management Inc. now owns 10,196 shares of the oil and gas company’s stock valued at $1,769,000 after purchasing an additional 65 shares in the last quarter. Main Street Financial Solutions LLC boosted its holdings in shares of Marathon Petroleum by 2.9% in the second quarter. Main Street Financial Solutions LLC now owns 2,417 shares of the oil and gas company’s stock valued at $419,000 after acquiring an additional 67 shares in the last quarter. Catalyst Financial Partners LLC increased its position in shares of Marathon Petroleum by 1.6% during the 3rd quarter. Catalyst Financial Partners LLC now owns 4,285 shares of the oil and gas company’s stock valued at $698,000 after purchasing an additional 67 shares during the period. Finally, American Trust grew its holdings in Marathon Petroleum by 5.3% during the third quarter. American Trust now owns 1,397 shares of the oil and gas company’s stock worth $228,000 after acquiring an additional 70 shares during the period. 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.