Marathon Petroleum (NYSE:MPC) Price Target Lowered to $174.00 at Mizuho

Marathon Petroleum (NYSE:MPC) had its price target reduced by Mizuho from $175.00 to $174.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Mizuho’s price objective would indicate a potential upside of 26.11% from the stock’s previous close.

Other analysts have also issued reports about the stock. TD Cowen reissued a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a research note on Tuesday, December 10th. BMO Capital Markets lowered their price objective on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Tudor Pickering lowered shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. Barclays lowered their price target on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Finally, Citigroup cut their price target on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average target price of $184.00.

Marathon Petroleum Trading Down 0.2 %

Shares of NYSE MPC opened at $137.98 on Monday. Marathon Petroleum has a 1-year low of $136.43 and a 1-year high of $221.11. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The business’s 50 day moving average is $153.96 and its two-hundred day moving average is $164.40. The stock has a market capitalization of $44.35 billion, a P/E ratio of 10.93, a PEG ratio of 2.67 and a beta of 1.39.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.90. The company had revenue of $35.37 billion during the quarter, compared to the consensus estimate of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. Marathon Petroleum’s revenue was down 14.9% on a year-over-year basis. During the same period last year, the company earned $8.14 earnings per share. As a group, research analysts expect that Marathon Petroleum will post 9.5 EPS for the current year.

Marathon Petroleum declared that its Board of Directors has initiated a share buyback plan on Tuesday, November 5th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to buy up to 10% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Marathon Petroleum news, Director Jeffrey C. Campbell purchased 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were bought at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the acquisition, the director now owns 6,090 shares in the company, valued at $911,124.90. This represents a 6,666.67 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP boosted its holdings in Marathon Petroleum by 342.1% in the third quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock valued at $911,274,000 after purchasing an additional 4,328,470 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Marathon Petroleum by 19,153.8% in the third quarter. International Assets Investment Management LLC now owns 1,311,182 shares of the oil and gas company’s stock worth $213,605,000 after buying an additional 1,304,372 shares during the last quarter. ING Groep NV acquired a new stake in Marathon Petroleum during the third quarter worth about $114,107,000. National Bank of Canada FI raised its position in Marathon Petroleum by 212.9% during the third quarter. National Bank of Canada FI now owns 846,756 shares of the oil and gas company’s stock valued at $137,945,000 after acquiring an additional 576,119 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in Marathon Petroleum by 45.4% in the third quarter. Bank of Montreal Can now owns 1,329,422 shares of the oil and gas company’s stock valued at $217,560,000 after acquiring an additional 415,368 shares during the period. Hedge funds and other institutional investors 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.