Marathon Petroleum (NYSE:MPC) Price Target Lowered to $117.00 at Wells Fargo & Company

Marathon Petroleum (NYSE:MPC – Get Rating) had its target price reduced by equities researchers at Wells Fargo & Company from $129.00 to $117.00 in a research note issued on Wednesday, 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 29.75% from the company’s current price.

MPC has been the subject of several other reports. BMO Capital Markets assumed coverage on Marathon Petroleum in a research report on Monday, June 13th. They set an “outperform” rating and a $135.00 price target for the company. Credit Suisse Group raised their price target on Marathon Petroleum to $130.00 in a research report on Thursday, June 9th. Citigroup raised their price target on Marathon Petroleum from $85.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, April 26th. The Goldman Sachs Group lowered Marathon Petroleum from a “buy” rating to a “neutral” rating and raised their price target for the stock from $90.00 to $102.00 in a research report on Monday, May 16th. Finally, JPMorgan Chase & Co. raised their price target on Marathon Petroleum from $95.00 to $109.00 in a research report on Tuesday, May 17th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $112.83.

Marathon Petroleum Price Performance

MPC stock opened at $90.17 on Wednesday. The business has a fifty day moving average of $91.97 and a two-hundred day moving average of $86.07. The company has a quick ratio of 1.07, a current ratio of 1.45 and a debt-to-equity ratio of 0.85. The stock has a market cap of $48.78 billion, a price-to-earnings ratio of 6.09, a price-to-earnings-growth ratio of 0.26 and a beta of 1.76. Marathon Petroleum has a 52-week low of $53.47 and a 52-week high of $114.35.

Marathon Petroleum (NYSE:MPC – Get Rating) last posted its earnings results on Tuesday, August 2nd. The oil and gas company reported $10.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.98 by $5.63. The company had revenue of $54.33 billion during the quarter, compared to analysts’ expectations of $44.26 billion. Marathon Petroleum had a return on equity of 23.86% and a net margin of 5.09%. The firm’s quarterly revenue was up 82.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.67 earnings per share. As a group, research analysts anticipate that Marathon Petroleum will post 19 earnings per share for the current year.

Insiders Place Their Bets

In other Marathon Petroleum news, VP Raymond L. Brooks sold 133,857 shares of Marathon Petroleum stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $96.82, for a total transaction of $12,960,034.74. Following the completion of the sale, the vice president now directly owns 63,248 shares of the company’s stock, valued at approximately $6,123,671.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.28% of the stock is owned by company insiders.

Institutional Trading of Marathon Petroleum

A number of institutional investors have recently bought and sold shares of MPC. Norges Bank purchased a new stake in Marathon Petroleum during the 4th quarter worth about $411,853,000. Bank of New York Mellon Corp increased its position in shares of Marathon Petroleum by 21.9% during the first quarter. Bank of New York Mellon Corp now owns 12,481,878 shares of the oil and gas company’s stock worth $1,067,202,000 after purchasing an additional 2,244,421 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Marathon Petroleum by 22,119.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,227,468 shares of the oil and gas company’s stock worth $190,449,000 after purchasing an additional 2,217,443 shares in the last quarter. Capital Wealth Planning LLC acquired a new stake in shares of Marathon Petroleum during the fourth quarter worth about $140,222,000. Finally, Invesco Ltd. increased its position in shares of Marathon Petroleum by 39.0% during the first quarter. Invesco Ltd. now owns 6,695,296 shares of the oil and gas company’s stock worth $572,449,000 after purchasing an additional 1,878,976 shares in the last quarter. 80.91% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Company Profile

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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.