Bank of America Initiates Coverage on Marathon Petroleum (NYSE:MPC)

Equities research analysts at Bank of America started coverage on shares of Marathon Petroleum (NYSE:MPC) in a research note issued to investors on Thursday, StockNewsAPI reports. The brokerage set a “neutral” rating and a $174.00 price target on the oil and gas company’s stock. Bank of America‘s price target points to a potential upside of 9.95% from the stock’s previous close.

Several other research analysts also recently commented on MPC. JPMorgan Chase & Co. lowered their target price on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Jefferies Financial Group boosted their price target on Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Piper Sandler reduced their price target on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. Tudor, Pickering, Holt & Co. cut Marathon Petroleum from a “buy” rating to a “sell” rating in a report on Monday, September 9th. Finally, Mizuho reduced their price target on Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.00.

Marathon Petroleum Stock Down 0.0 %

MPC opened at $158.26 on Thursday. Marathon Petroleum has a fifty-two week low of $140.98 and a fifty-two week high of $221.11. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31. The company has a market capitalization of $55.76 billion, a P/E ratio of 7.91, a P/E/G ratio of 2.65 and a beta of 1.37. The stock has a fifty day moving average of $167.72 and a 200-day moving average of $175.90.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. The business had revenue of $38.36 billion during the quarter, compared to the consensus estimate of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. Marathon Petroleum’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.32 earnings per share. On average, equities analysts expect that Marathon Petroleum will post 10.22 EPS for the current year.

Hedge Funds Weigh In On Marathon Petroleum

Institutional investors have recently modified their holdings of the company. Global Assets Advisory LLC acquired a new position in shares of Marathon Petroleum during the first quarter worth approximately $36,823,000. Founders Financial Securities LLC raised its position in shares of Marathon Petroleum by 22.8% during the second quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock worth $863,000 after purchasing an additional 924 shares during the period. Fidelis Capital Partners LLC raised its position in shares of Marathon Petroleum by 3.2% during the first quarter. Fidelis Capital Partners LLC now owns 3,050 shares of the oil and gas company’s stock worth $615,000 after purchasing an additional 94 shares during the period. LRI Investments LLC acquired a new position in shares of Marathon Petroleum during the first quarter worth approximately $97,000. Finally, Magnolia Capital Advisors LLC raised its position in shares of Marathon Petroleum by 353.4% during the second quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company’s stock worth $9,713,000 after purchasing an additional 43,639 shares during the period. 76.77% of the stock is owned by institutional investors and hedge funds.

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.