Marathon Petroleum (NYSE:MPC) Price Target Increased to $110.00 by Analysts at Wells Fargo & Company

Marathon Petroleum (NYSE:MPC – Get Rating) had its price target upped by research analysts at Wells Fargo & Company from $91.00 to $110.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 20.91% from the company’s previous close.

Several other equities analysts have also issued reports on MPC. Morgan Stanley lifted their price objective on shares of Marathon Petroleum from $90.00 to $115.00 and gave the company an “overweight” rating in a report on Monday. Piper Sandler increased their target price on shares of Marathon Petroleum from $76.00 to $96.00 and gave the stock a “neutral” rating in a report on Monday. StockNews.com started coverage on shares of Marathon Petroleum in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. Zacks Investment Research upgraded shares of Marathon Petroleum from a “hold” rating to a “strong-buy” rating and set a $90.00 target price for the company in a research note on Monday, February 7th. Finally, Credit Suisse Group lifted their target price on shares of Marathon Petroleum from $78.00 to $90.00 in a research report on Thursday, February 3rd. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $89.67.

NYSE:MPC opened at $90.98 on Thursday. The company has a market capitalization of $50.82 billion, a P/E ratio of 6.07, a P/E/G ratio of 0.74 and a beta of 1.92. Marathon Petroleum has a 1 year low of $50.19 and a 1 year high of $91.88. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.70 and a quick ratio of 1.25. The business has a fifty day simple moving average of $80.68 and a two-hundred day simple moving average of $71.79.

Marathon Petroleum (NYSE:MPC – Get Rating) last posted its earnings results on Wednesday, February 2nd. The oil and gas company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.83. The firm had revenue of $35.61 billion for the quarter, compared to the consensus estimate of $25.79 billion. Marathon Petroleum had a return on equity of 4.74% and a net margin of 8.05%. The business’s revenue for the quarter was up 95.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.94) EPS. As a group, analysts anticipate that Marathon Petroleum will post 6.38 earnings per share for the current year.

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

Several hedge funds have recently modified their holdings of MPC. Palisade Asset Management LLC acquired a new stake in Marathon Petroleum during the 1st quarter valued at $214,000. Successful Portfolios LLC purchased a new stake in shares of Marathon Petroleum during the first quarter worth about $277,000. Lindbrook Capital LLC grew its stake in Marathon Petroleum by 5.7% in the first quarter. Lindbrook Capital LLC now owns 2,227 shares of the oil and gas company’s stock worth $190,000 after purchasing an additional 121 shares in the last quarter. Riverview Trust Co bought a new stake in shares of Marathon Petroleum during the first quarter valued at approximately $29,000. Finally, Sax Wealth Advisors LLC bought a new stake in Marathon Petroleum during the first quarter worth approximately $207,000. 76.01% of the stock is owned by institutional investors and hedge funds.

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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