Marathon Petroleum (NYSE:MPC) Stock Price Expected to Rise, Mizuho Analyst Says

Marathon Petroleum (NYSE:MPC) had its target price raised by Mizuho from $284.00 to $304.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Mizuho’s target price suggests a potential downside of 4.64% from the company’s previous close.

A number of other brokerages have also weighed in on MPC. Piper Sandler upped their target price on shares of Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a research note on Thursday. BMO Capital Markets reissued an “outperform” rating on shares of Marathon Petroleum in a report on Friday, June 12th. Wall Street Zen raised shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. Scotiabank raised their target price on shares of Marathon Petroleum from $174.00 to $210.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Finally, Jefferies Financial Group set a $335.00 price objective on Marathon Petroleum and gave the company a “buy” rating in a research note on Sunday, July 12th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $312.50.

Marathon Petroleum Price Performance

MPC opened at $318.79 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. The company’s 50-day moving average price is $280.59 and its 200 day moving average price is $243.30. Marathon Petroleum has a fifty-two week low of $158.00 and a fifty-two week high of $326.92. The firm has a market cap of $93.07 billion, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of 0.19 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, beating the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The company had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. During the same period in the prior year, the company earned $3.96 earnings per share. The business’s revenue was up 53.5% compared to the same quarter last year. As a group, sell-side analysts expect that Marathon Petroleum will post 46.66 earnings per share for the current year.

Insider Activity at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the transaction, the vice president directly owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. This represents a 27.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Marathon Petroleum

A number of institutional investors have recently modified their holdings of the company. Jupiter Wealth Management LLC purchased a new stake in shares of Marathon Petroleum during the 2nd quarter valued at $2,557,000. Vise Technologies Inc. bought a new stake in Marathon Petroleum in the second quarter valued at $5,274,000. E Fund Management Co. Ltd. acquired a new stake in shares of Marathon Petroleum in the second quarter valued at approximately $267,000. MSH Capital Advisors LLC bought a new stake in Marathon Petroleum during the second quarter worth approximately $469,000. Finally, Live Oak Investment Partners acquired a new stake in shares of Marathon Petroleum during the 2nd quarter valued at $707,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

More Marathon Petroleum News

Here are the key news stories impacting Marathon Petroleum this week:

• Positive Sentiment: Strong second-quarter earnings: MPC reported adjusted earnings of $17.73 per share, well above the $14.52 consensus estimate and up sharply from $3.96 a year earlier. The improvement was driven primarily by significantly stronger Refining & Marketing performance and higher refining margins. Marathon Petroleum Q2 Earnings Beat on Strong Refining Margins
• Positive Sentiment: Refining and midstream momentum: Analysts say MPC’s recent rally has fundamental support from stronger refining economics, disciplined operations and rising cash flow from its midstream business. The company expects third-quarter crude throughput of approximately 2.82 million barrels per day and total refinery throughput of about 3.005 million barrels per day, signaling continued high utilization. MPC Jumps 18.1% in 3 Months as Refining Strength Builds Momentum
• Positive Sentiment: Above-average financial growth: Growth-focused coverage argues that Marathon Petroleum’s financial performance is positioned to outperform the broader market, adding to the positive investor narrative following its earnings beat. 3 Reasons Growth Investors Will Love Marathon Petroleum
• Neutral Sentiment: Positive Wall Street views, with limitations: MPC’s average brokerage recommendation supports adding the stock to a portfolio, but the article notes that sell-side ratings can be biased and are not necessarily a reliable standalone buy signal. Should You Invest in Marathon Petroleum Based on Bullish Wall Street Views?

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.