Marathon Petroleum (NYSE:MPC) PT Lowered to $195.00 at Barclays

Marathon Petroleum (NYSE:MPC) had its price target reduced by equities research analysts at Barclays from $221.00 to $195.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the oil and gas company’s stock. Barclays‘s price objective points to a potential upside of 6.30% from the stock’s current price.

MPC has been the subject of several other reports. Mizuho reduced their price objective on Marathon Petroleum from $202.00 to $200.00 and set a “neutral” rating for the company in a research report on Thursday. JPMorgan Chase & Co. raised their price target on shares of Marathon Petroleum from $172.00 to $186.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Citigroup started coverage on shares of Marathon Petroleum in a research report on Wednesday, January 24th. They set a “neutral” rating for the company. StockNews.com raised Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 1st. Finally, Piper Sandler upped their price target on Marathon Petroleum from $159.00 to $204.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $191.62.

Marathon Petroleum Stock Performance

Marathon Petroleum stock traded up $0.90 during trading hours on Monday, reaching $183.45. 756,613 shares of the company were exchanged, compared to its average volume of 2,761,869. Marathon Petroleum has a 12 month low of $104.32 and a 12 month high of $221.11. The stock has a 50-day moving average of $194.18 and a 200 day moving average of $168.30. The company has a current ratio of 1.43, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. The firm has a market cap of $64.63 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 1.52 and a beta of 1.55.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.25. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The company had revenue of $32.71 billion during the quarter, compared to analysts’ expectations of $32.07 billion. During the same period in the prior year, the company earned $6.09 earnings per share. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. As a group, research analysts anticipate that Marathon Petroleum will post 19.96 earnings per share for the current year.

Marathon Petroleum announced that its board has authorized a share repurchase program on Tuesday, April 30th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas company to reacquire up to 7.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, Director Kim K.W. Rucker sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $170.35, for a total transaction of $170,350.00. Following the completion of the sale, the director now directly owns 23,446 shares of the company’s stock, valued at $3,994,026.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.21% of the stock is currently owned by insiders.

Institutional Trading of Marathon Petroleum

A number of large investors have recently bought and sold shares of MPC. Mittelman Wealth Management bought a new stake in shares of Marathon Petroleum during the first quarter worth $2,157,000. TFG Advisers LLC bought a new position in Marathon Petroleum during the 1st quarter worth about $241,000. Oxbow Advisors LLC raised its stake in shares of Marathon Petroleum by 142.2% in the 1st quarter. Oxbow Advisors LLC now owns 5,285 shares of the oil and gas company’s stock valued at $1,065,000 after purchasing an additional 3,103 shares during the period. Advisory Alpha LLC lifted its holdings in shares of Marathon Petroleum by 240.9% in the first quarter. Advisory Alpha LLC now owns 5,447 shares of the oil and gas company’s stock valued at $1,098,000 after purchasing an additional 3,849 shares in the last quarter. Finally, Howland Capital Management LLC acquired a new position in shares of Marathon Petroleum during the first quarter worth about $270,000. 76.77% of the stock is owned by institutional investors.

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.