Marathon Petroleum (NYSE:MPC) Given New $300.00 Price Target at Raymond James Financial

Marathon Petroleum (NYSE:MPC) had its target price hoisted by investment analysts at Raymond James Financial from $285.00 to $300.00 in a research report issued on Wednesday,MarketScreener reports. The brokerage presently has an “outperform” rating on the oil and gas company’s stock. Raymond James Financial’s price objective would indicate a potential upside of 14.24% from the stock’s previous close.

Several other brokerages also recently weighed in on MPC. Wall Street Zen upgraded Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. Citigroup boosted their price objective on Marathon Petroleum from $243.00 to $257.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Mizuho upped their target price on shares of Marathon Petroleum from $224.00 to $284.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. The Goldman Sachs Group lifted their price target on shares of Marathon Petroleum from $264.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, TD Cowen increased their price objective on shares of Marathon Petroleum to $320.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $270.38.

Marathon Petroleum Trading Up 1.7%

NYSE MPC traded up $4.46 during trading on Wednesday, hitting $262.61. The stock had a trading volume of 196,611 shares, compared to its average volume of 2,466,428. 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 company has a market capitalization of $76.67 billion, a PE ratio of 17.05, a PEG ratio of 0.43 and a beta of 0.52. The firm has a 50 day moving average price of $243.38 and a 200 day moving average price of $211.02. Marathon Petroleum has a twelve month low of $158.00 and a twelve month high of $272.46.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, beating the consensus estimate of $0.74 by $0.91. The business had revenue of $34.20 billion during the quarter, compared to analyst estimates of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.24) earnings per share. As a group, equities research analysts forecast that Marathon Petroleum will post 30.05 earnings per share for the current year.

Insider Buying and Selling at Marathon Petroleum

In related news, insider Ricky D. Hessling sold 1,626 shares of the business’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $228.18, for a total value of $371,020.68. Following the completion of the sale, the insider directly owned 7,525 shares of the company’s stock, valued at $1,717,054.50. The trade was a 17.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael A. Henschen II sold 6,336 shares of the company’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. This represents a 27.27% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 8,999 shares of company stock valued at $2,311,820. Company insiders own 0.17% of the company’s stock.

Institutional Trading of Marathon Petroleum

Large investors have recently made changes to their positions in the company. Alberta Investment Management Corp purchased a new position in shares of Marathon Petroleum during the third quarter worth approximately $2,891,000. Diversified Trust Co. raised its position in Marathon Petroleum by 39.3% in the 4th quarter. Diversified Trust Co. now owns 15,675 shares of the oil and gas company’s stock valued at $2,549,000 after purchasing an additional 4,419 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Marathon Petroleum during the 3rd quarter worth $1,004,000. USA Financial Formulas purchased a new position in Marathon Petroleum during the 4th quarter worth $791,000. Finally, KKM Financial LLC increased its stake in Marathon Petroleum by 27.6% in the third quarter. KKM Financial LLC now owns 26,202 shares of the oil and gas company’s stock valued at $5,050,000 after purchasing an additional 5,661 shares during the period. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Company Profile

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.