Wells Fargo & Company Issues Positive Forecast for Marathon Petroleum (NYSE:MPC) Stock Price

Marathon Petroleum (NYSE:MPC) had its price objective boosted by investment analysts at Wells Fargo & Company from $180.00 to $182.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 11.88% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. TD Cowen boosted their price objective on Marathon Petroleum from $152.00 to $163.00 and gave the company a “buy” rating in a research note on Tuesday. Barclays upped their price target on shares of Marathon Petroleum from $141.00 to $159.00 and gave the company an “overweight” rating in a research report on Monday, May 12th. Scotiabank decreased their price target on shares of Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating for the company in a research note on Friday, April 11th. Morgan Stanley dropped their price objective on shares of Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Finally, Mizuho raised their price target on Marathon Petroleum from $168.00 to $184.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus target price of $176.21.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $162.67 on Wednesday. Marathon Petroleum has a 12 month low of $115.10 and a 12 month high of $183.31. 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 firm has a market capitalization of $49.98 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 3.11 and a beta of 0.89. The business’s fifty day moving average price is $144.79 and its 200 day moving average price is $146.19.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The firm had revenue of $31.85 billion during the quarter, compared to the consensus estimate of $28.91 billion. During the same period in the prior year, the company posted $2.58 earnings per share. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Marathon Petroleum will post 8.47 earnings per share for the current fiscal year.

Institutional Trading of Marathon Petroleum

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fourth Dimension Wealth LLC purchased a new stake in shares of Marathon Petroleum during the fourth quarter worth about $26,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Marathon Petroleum in the 4th quarter worth approximately $27,000. Asset Planning Inc purchased a new position in shares of Marathon Petroleum during the 4th quarter worth $28,000. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Marathon Petroleum by 1,546.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 201 shares during the last quarter. Finally, Hughes Financial Services LLC purchased a new stake in shares of Marathon Petroleum in the first quarter valued at $32,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

About Marathon Petroleum

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.