Piper Sandler Increases Marathon Petroleum (NYSE:MPC) Price Target to $96.00

Marathon Petroleum (NYSE:MPCGet Rating) had its price objective raised by equities research analysts at Piper Sandler from $76.00 to $96.00 in a research report issued on Monday, The Fly reports. Piper Sandler’s target price indicates a potential upside of 10.09% from the stock’s previous close.

Other analysts have also issued research reports about the stock. TheStreet raised shares of Marathon Petroleum from a “c+” rating to a “b” rating in a research report on Wednesday, March 2nd. Zacks Investment Research raised shares of Marathon Petroleum from a “hold” rating to a “strong-buy” rating and set a $90.00 price target on the stock in a research report on Monday, February 7th. Morgan Stanley upped their price target on shares of Marathon Petroleum from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 3rd. StockNews.com started coverage on shares of Marathon Petroleum in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Finally, Cowen upped their price target on shares of Marathon Petroleum from $83.00 to $90.00 in a research report on Thursday, February 3rd. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $85.67.

Marathon Petroleum stock opened at $87.20 on Monday. The stock has a market capitalization of $48.71 billion, a PE ratio of 5.82, a price-to-earnings-growth ratio of 0.74 and a beta of 1.92. Marathon Petroleum has a twelve month low of $50.19 and a twelve month high of $88.32. The company has a quick ratio of 1.25, a current ratio of 1.70 and a debt-to-equity ratio of 0.77. The company has a 50 day moving average of $80.02 and a 200-day moving average of $71.34.

Marathon Petroleum (NYSE:MPCGet Rating) last released its quarterly earnings results on Wednesday, February 2nd. The oil and gas company reported $1.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.83. The company had revenue of $35.61 billion during the quarter, compared to analysts’ expectations of $25.79 billion. Marathon Petroleum had a net margin of 8.05% and a return on equity of 4.74%. The business’s quarterly revenue was up 95.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.94) earnings per share. Equities analysts anticipate that Marathon Petroleum will post 6.38 EPS for the current fiscal year.

In related news, VP Carl Kristopher Hagedorn sold 4,695 shares of the firm’s stock in a transaction that occurred on Friday, February 4th. The shares were sold at an average price of $77.66, for a total value of $364,613.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kim K.W. Rucker sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 29th. The stock was sold at an average price of $83.00, for a total transaction of $415,000.00. The disclosure for this sale can be found here. Insiders sold 14,695 shares of company stock valued at $1,178,364 in the last three months. Company insiders own 0.28% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in MPC. Moors & Cabot Inc. raised its holdings in Marathon Petroleum by 131.2% during the 3rd quarter. Moors & Cabot Inc. now owns 25,000 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 14,188 shares during the last quarter. Addison Advisors LLC bought a new position in Marathon Petroleum during the 4th quarter worth approximately $28,000. Ellis Investment Partners LLC acquired a new stake in shares of Marathon Petroleum during the 4th quarter worth approximately $30,000. Dixon Hughes Goodman Wealth Advisors LLC grew its position in shares of Marathon Petroleum by 138.5% during the 1st quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 353 shares of the oil and gas company’s stock worth $30,000 after buying an additional 205 shares during the period. Finally, Capital Directions Investment Advisors LLC acquired a new stake in shares of Marathon Petroleum during the 3rd quarter worth approximately $31,000. Hedge funds and other institutional investors own 76.01% of the company’s stock.

About Marathon Petroleum (Get Rating)

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments: Refining & Marketing, and Midstream. 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.

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