Marathon Petroleum (NYSE:MPC) Downgraded by JPMorgan Chase & Co.

Marathon Petroleum (NYSE:MPC) was downgraded by research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report issued on Monday, The Fly reports.

A number of other equities analysts have also commented on MPC. Mizuho set a $90.00 price target on shares of Marathon Petroleum and gave the stock a “buy” rating in a research report on Thursday, September 26th. Citigroup boosted their price objective on shares of Marathon Petroleum from $60.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Wells Fargo & Co increased their target price on shares of Marathon Petroleum from $75.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. ValuEngine upgraded shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd. Finally, Cfra cut shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Marathon Petroleum presently has an average rating of “Buy” and a consensus price target of $73.38.

MPC stock opened at $60.20 on Monday. Marathon Petroleum has a fifty-two week low of $43.96 and a fifty-two week high of $69.65. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.25 and a quick ratio of 0.62. The stock has a market capitalization of $39.09 billion, a price-to-earnings ratio of 8.88, a PEG ratio of 1.39 and a beta of 1.68. The business’s fifty day moving average price is $64.24 and its two-hundred day moving average price is $55.73.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Thursday, October 31st. The oil and gas company reported $1.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.33. Marathon Petroleum had a net margin of 2.50% and a return on equity of 8.94%. The company had revenue of $31.20 billion during the quarter, compared to analysts’ expectations of $32.89 billion. During the same quarter in the previous year, the business posted $1.70 earnings per share. Marathon Petroleum’s quarterly revenue was up 34.9% on a year-over-year basis. Research analysts expect that Marathon Petroleum will post 4.35 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Janney Montgomery Scott LLC raised its holdings in Marathon Petroleum by 159.6% during the second quarter. Janney Montgomery Scott LLC now owns 165,968 shares of the oil and gas company’s stock valued at $9,274,000 after acquiring an additional 102,030 shares during the period. Wealthcare Advisory Partners LLC boosted its stake in shares of Marathon Petroleum by 345.6% in the second quarter. Wealthcare Advisory Partners LLC now owns 508 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 394 shares during the period. First Trust Advisors LP boosted its stake in shares of Marathon Petroleum by 128.1% in the second quarter. First Trust Advisors LP now owns 742,351 shares of the oil and gas company’s stock worth $41,483,000 after acquiring an additional 416,876 shares during the period. AGF Investments Inc. boosted its stake in shares of Marathon Petroleum by 42.3% in the second quarter. AGF Investments Inc. now owns 62,894 shares of the oil and gas company’s stock worth $3,515,000 after acquiring an additional 18,708 shares during the period. Finally, Lee Danner & Bass Inc. bought a new stake in Marathon Petroleum during the 2nd quarter valued at approximately $204,000. 76.12% of the stock is owned by hedge funds and other institutional investors.

About Marathon Petroleum

Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.

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Analyst Recommendations for Marathon Petroleum (NYSE:MPC)

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