JPMorgan Chase Cuts Marathon Petroleum (MPC) Price Target to $86.00

Marathon Petroleum (NYSE:MPC) had its price objective reduced by JPMorgan Chase from $90.00 to $86.00 in a research note released on Monday. JPMorgan Chase currently has an overweight rating on the oil and gas company’s stock.

Other analysts have also recently issued reports about the company. Citigroup reissued a buy rating and set a $79.00 price target on shares of Marathon Petroleum in a report on Friday, February 2nd. Royal Bank of Canada restated a buy rating and set a $89.00 price objective on shares of Marathon Petroleum in a research note on Tuesday, January 30th. Piper Jaffray restated a buy rating and set a $90.00 price objective on shares of Marathon Petroleum in a research note on Friday, February 23rd. Barclays restated a buy rating and set a $90.00 price objective on shares of Marathon Petroleum in a research note on Friday, February 16th. Finally, Goldman Sachs upgraded Marathon Petroleum from a neutral rating to a buy rating in a research note on Tuesday, February 13th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $79.79.

NYSE:MPC opened at $74.02 on Monday. The company has a market cap of $34,119.20, a P/E ratio of 19.48, a PEG ratio of 1.07 and a beta of 1.34. The company has a quick ratio of 0.75, a current ratio of 1.28 and a debt-to-equity ratio of 0.59. Marathon Petroleum has a 1-year low of $47.78 and a 1-year high of $74.92.



Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Thursday, February 1st. The oil and gas company reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.05. The business had revenue of $21.24 billion during the quarter, compared to analysts’ expectations of $17.27 billion. Marathon Petroleum had a return on equity of 9.90% and a net margin of 4.60%. The firm’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period last year, the firm posted $0.43 EPS. equities research analysts forecast that Marathon Petroleum will post 4.61 earnings per share for the current year.

In other news, insider Thomas M. Kelley sold 20,000 shares of Marathon Petroleum stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $69.77, for a total value of $1,395,400.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles E. Bunch purchased 1,500 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The stock was acquired at an average price of $67.38 per share, for a total transaction of $101,070.00. Following the purchase, the director now owns 12,853 shares in the company, valued at approximately $866,035.14. The disclosure for this purchase can be found here. Company insiders own 1.09% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC increased its stake in shares of Marathon Petroleum by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 5,870,292 shares of the oil and gas company’s stock valued at $386,599,000 after purchasing an additional 367,650 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Marathon Petroleum by 9.9% in the 4th quarter. Bank of New York Mellon Corp now owns 5,209,413 shares of the oil and gas company’s stock valued at $343,716,000 after purchasing an additional 470,220 shares during the last quarter. Millennium Management LLC grew its position in Marathon Petroleum by 24.3% during the 4th quarter. Millennium Management LLC now owns 5,209,211 shares of the oil and gas company’s stock worth $343,704,000 after acquiring an additional 1,019,354 shares during the last quarter. Deutsche Bank AG grew its position in Marathon Petroleum by 28.1% during the 4th quarter. Deutsche Bank AG now owns 4,208,375 shares of the oil and gas company’s stock worth $277,664,000 after acquiring an additional 923,646 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in Marathon Petroleum by 61.6% during the 3rd quarter. Prudential Financial Inc. now owns 3,987,706 shares of the oil and gas company’s stock worth $223,630,000 after acquiring an additional 1,520,471 shares during the last quarter. Institutional investors own 80.34% of the company’s stock.

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About Marathon Petroleum

Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.

Analyst Recommendations for Marathon Petroleum (NYSE:MPC)

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