Citigroup Has Lowered Expectations for Marathon Petroleum (NYSE:MPC) Stock Price

Marathon Petroleum (NYSE:MPC) had its price target dropped by Citigroup from $185.00 to $182.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the oil and gas company’s stock. Citigroup’s price objective indicates a potential upside of 0.56% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on MPC. BMO Capital Markets reaffirmed an “outperform” rating on shares of Marathon Petroleum in a research note on Tuesday, December 9th. Wall Street Zen lowered shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Scotiabank reaffirmed an “outperform” rating on shares of Marathon Petroleum in a report on Thursday, October 9th. Piper Sandler reduced their price objective on shares of Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Finally, Mizuho raised their price target on shares of Marathon Petroleum from $198.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $199.79.

Marathon Petroleum Trading Up 2.9%

Shares of NYSE:MPC traded up $5.13 during trading on Wednesday, hitting $180.98. The company had a trading volume of 2,820,861 shares, compared to its average volume of 2,572,491. The company has a fifty day simple moving average of $182.60 and a two-hundred day simple moving average of $180.56. Marathon Petroleum has a one year low of $115.10 and a one year high of $202.29. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79. The stock has a market cap of $54.40 billion, a price-to-earnings ratio of 19.29, a price-to-earnings-growth ratio of 0.70 and a beta of 0.74.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.01. The business had revenue of $34.81 billion for the quarter, compared to analysts’ expectations of $31.06 billion. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%. As a group, equities analysts forecast that Marathon Petroleum will post 8.47 earnings per share for the current year.

Institutional Trading of Marathon Petroleum

A number of institutional investors have recently modified their holdings of MPC. Delos Wealth Advisors LLC bought a new position in Marathon Petroleum in the 2nd quarter valued at $25,000. Activest Wealth Management raised its position in Marathon Petroleum by 290.2% during the second quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 119 shares during the period. NewSquare Capital LLC lifted its stake in Marathon Petroleum by 103.1% in the 2nd quarter. NewSquare Capital LLC now owns 199 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 101 shares in the last quarter. WFA of San Diego LLC acquired a new stake in Marathon Petroleum during the second quarter worth $33,000. Finally, Transce3nd LLC lifted its stake in Marathon Petroleum by 10,250.0% during the 2nd quarter. Transce3nd LLC now owns 207 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 205 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.