Raymond James Issues Pessimistic Forecast for Marathon Petroleum (NYSE:MPC) Stock Price

Marathon Petroleum (NYSE:MPC) had its target price decreased by Raymond James from $193.00 to $183.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “strong-buy” rating on the oil and gas company’s stock. Raymond James’ price objective would suggest a potential upside of 50.63% from the company’s previous close.

A number of other analysts have also recently weighed in on MPC. Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th. TD Cowen reiterated a “buy” rating and issued a $170.00 price target on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Mizuho dropped their price target on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Barclays lifted their target price on Marathon Petroleum from $159.00 to $161.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Finally, Wells Fargo & Company upped their price target on Marathon Petroleum from $183.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.57.

Marathon Petroleum Stock Down 7.6 %

Marathon Petroleum stock opened at $121.49 on Wednesday. The firm has a market capitalization of $37.85 billion, a P/E ratio of 12.23, a P/E/G ratio of 3.11 and a beta of 1.04. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. Marathon Petroleum has a twelve month low of $115.10 and a twelve month high of $214.00. The stock’s fifty day simple moving average is $144.32 and its 200-day simple moving average is $149.08.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.71. The company had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. Marathon Petroleum’s revenue was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.98 EPS. As a group, equities analysts expect that Marathon Petroleum will post 8.47 earnings per share for the current fiscal year.

Insider Activity

In other Marathon Petroleum news, insider Ricky D. Hessling acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $134.72 per share, with a total value of $269,440.00. Following the purchase, the insider now directly owns 12,162 shares in the company, valued at approximately $1,638,464.64. This trade represents a 19.68 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Evan Bayh bought 1,000 shares of Marathon Petroleum stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average cost of $133.70 per share, for a total transaction of $133,700.00. Following the purchase, the director now owns 69,305 shares in the company, valued at $9,266,078.50. This represents a 1.46 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC acquired a new stake in Marathon Petroleum in the 4th quarter worth about $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Marathon Petroleum in the 4th quarter valued at $27,000. Asset Planning Inc purchased a new stake in shares of Marathon Petroleum during the 4th quarter valued at $28,000. Sierra Ocean LLC acquired a new stake in shares of Marathon Petroleum during the 4th quarter worth $31,000. Finally, Cape Investment Advisory Inc. raised its position in shares of Marathon Petroleum by 762.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company’s stock worth $42,000 after buying an additional 267 shares during the period. Institutional investors and hedge funds 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.