Marathon Petroleum’s (MPC) Hold Rating Reaffirmed at Scotiabank

Marathon Petroleum (NYSE:MPC)‘s stock had its “hold” rating reissued by research analysts at Scotiabank in a report issued on Wednesday. They presently have a $75.00 price target on the oil and gas company’s stock. Scotiabank’s target price suggests a potential upside of 8.70% from the company’s previous close.

MPC has been the subject of several other research reports. ValuEngine raised Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Zacks Investment Research cut Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Wednesday, November 22nd. Credit Suisse Group started coverage on Marathon Petroleum in a research note on Wednesday, January 3rd. They set an “outperform” rating and a $83.00 target price for the company. Barclays reaffirmed an “overweight” rating and set a $63.00 target price (up previously from $62.00) on shares of Marathon Petroleum in a research note on Tuesday, October 10th. Finally, Edward Jones raised Marathon Petroleum from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Marathon Petroleum currently has a consensus rating of “Buy” and an average target price of $69.50.

Marathon Petroleum (NYSE:MPC) traded down $0.39 during midday trading on Wednesday, reaching $69.00. The company had a trading volume of 2,980,200 shares, compared to its average volume of 3,460,250. Marathon Petroleum has a fifty-two week low of $46.88 and a fifty-two week high of $69.68. The firm has a market capitalization of $33,820.00, a PE ratio of 21.56, a P/E/G ratio of 1.25 and a beta of 1.62. The company has a quick ratio of 0.80, a current ratio of 1.52 and a debt-to-equity ratio of 0.64.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Thursday, October 26th. The oil and gas company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.48 by $0.29. Marathon Petroleum had a return on equity of 8.52% and a net margin of 2.35%. The business had revenue of $19.36 billion during the quarter, compared to analysts’ expectations of $19.38 billion. During the same quarter last year, the firm posted $0.58 earnings per share. The firm’s revenue was up 17.6% on a year-over-year basis. sell-side analysts predict that Marathon Petroleum will post 3.85 earnings per share for the current year.

In other Marathon Petroleum news, insider Thomas M. Kelley sold 35,604 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $64.75, for a total value of $2,305,359.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Rodney P. Nichols sold 6,374 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $64.93, for a total value of $413,863.82. Following the completion of the sale, the vice president now directly owns 74,674 shares of the company’s stock, valued at approximately $4,848,582.82. The disclosure for this sale can be found here. Insiders sold 149,854 shares of company stock valued at $9,482,177 in the last three months. Insiders own 1.05% of the company’s stock.

A number of institutional investors have recently made changes to their positions in MPC. Private Advisor Group LLC boosted its position in shares of Marathon Petroleum by 3.8% during the second quarter. Private Advisor Group LLC now owns 12,387 shares of the oil and gas company’s stock valued at $670,000 after buying an additional 452 shares during the last quarter. AXA boosted its position in shares of Marathon Petroleum by 1.5% during the second quarter. AXA now owns 54,520 shares of the oil and gas company’s stock valued at $2,853,000 after buying an additional 816 shares during the last quarter. Martingale Asset Management L P boosted its position in shares of Marathon Petroleum by 3.2% during the second quarter. Martingale Asset Management L P now owns 41,554 shares of the oil and gas company’s stock valued at $2,175,000 after buying an additional 1,293 shares during the last quarter. Riverhead Capital Management LLC boosted its position in shares of Marathon Petroleum by 196.0% during the second quarter. Riverhead Capital Management LLC now owns 44,285 shares of the oil and gas company’s stock valued at $2,317,000 after buying an additional 29,322 shares during the last quarter. Finally, Symphony Asset Management LLC purchased a new position in shares of Marathon Petroleum during the second quarter valued at approximately $350,000. 80.61% of the stock is owned by hedge funds and other institutional investors.

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About Marathon Petroleum

Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.

Analyst Recommendations for Marathon Petroleum (NYSE:MPC)

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