TD Cowen Issues Pessimistic Forecast for Marathon Petroleum (NYSE:MPC) Stock Price

Marathon Petroleum (NYSE:MPC) had its target price cut by analysts at TD Cowen from $320.00 to $315.00 in a research note issued to investors on Monday,MarketScreener reports. The brokerage presently has a “buy” rating on the oil and gas company’s stock. TD Cowen’s target price would indicate a potential upside of 20.26% from the company’s previous close.

A number of other equities research analysts have also issued reports on the stock. Wall Street Zen upgraded shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. Wells Fargo & Company reissued an “overweight” rating and set a $344.00 target price on shares of Marathon Petroleum in a research note on Monday, June 15th. UBS Group set a $285.00 target price on Marathon Petroleum in a research report on Wednesday, May 6th. Piper Sandler upped their price target on Marathon Petroleum from $197.00 to $228.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Finally, JPMorgan Chase & Co. raised their price objective on Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Ten equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $272.62.

Marathon Petroleum Stock Performance

MPC opened at $261.94 on Monday. The firm has a market cap of $76.47 billion, a PE ratio of 17.13, a P/E/G ratio of 0.39 and a beta of 0.52. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31. The business has a fifty day simple moving average of $247.79 and a 200-day simple moving average of $216.54. Marathon Petroleum has a fifty-two week low of $158.00 and a fifty-two week high of $272.46.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.91. The company had revenue of $34.20 billion for the quarter, compared to analyst estimates of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.Marathon Petroleum’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.24) earnings per share. As a group, equities analysts predict that Marathon Petroleum will post 31.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the transaction, the vice president owned 16,900 shares of the company’s stock, valued at $4,543,058. The trade was a 27.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Navalign LLC acquired a new position in shares of Marathon Petroleum during the fourth quarter valued at about $30,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Marathon Petroleum in the 4th quarter valued at $31,000. Berbice Capital Management LLC lifted its stake in Marathon Petroleum by 100.0% during the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 100 shares during the period. WFA of San Diego LLC bought a new position in shares of Marathon Petroleum during the 2nd quarter worth approximately $33,000. Finally, Ares Financial Consulting LLC bought a new position in shares of Marathon Petroleum during the fourth quarter valued at $34,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

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.