Wells Fargo & Company Increases Marathon Petroleum (NYSE:MPC) Price Target to $331.00

Marathon Petroleum (NYSE:MPC) had its target price boosted by Wells Fargo & Company from $217.00 to $331.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 33.34% from the company’s current price.

Several other analysts have also issued reports on the stock. Barclays reduced their target price on shares of Marathon Petroleum from $202.00 to $194.00 and set an “overweight” rating for the company in a research note on Tuesday, January 13th. Wall Street Zen raised shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Citigroup upped their target price on Marathon Petroleum from $182.00 to $210.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Mizuho boosted their price objective on Marathon Petroleum from $205.00 to $224.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 17th. Finally, TD Cowen raised their target price on Marathon Petroleum from $183.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $216.31.

Marathon Petroleum Stock Performance

Shares of MPC opened at $248.23 on Tuesday. The firm has a market capitalization of $73.10 billion, a P/E ratio of 18.54, a P/E/G ratio of 0.53 and a beta of 0.69. Marathon Petroleum has a 52 week low of $115.10 and a 52 week high of $255.77. The stock has a 50 day moving average price of $207.07 and a two-hundred day moving average price of $192.87. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.26.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.73 by $0.34. The company had revenue of $32.57 billion for the quarter, compared to analysts’ expectations of $30.89 billion. Marathon Petroleum had a return on equity of 13.90% and a net margin of 2.99%.Marathon Petroleum’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.77 earnings per share. Equities analysts forecast that Marathon Petroleum will post 8.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Ricky D. Hessling sold 1,626 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $228.18, for a total value of $371,020.68. Following the sale, the insider directly owned 7,525 shares in the company, valued at approximately $1,717,054.50. The trade was a 17.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 4,473 shares of company stock valued at $1,015,428. Company insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Marathon Petroleum

Several large investors have recently modified their holdings of the business. Delos Wealth Advisors LLC purchased a new position in Marathon Petroleum in the 2nd quarter valued at approximately $25,000. Navalign LLC purchased a new stake in Marathon Petroleum during the 4th quarter worth about $30,000. Kohmann Bosshard Financial Services LLC purchased a new position in Marathon Petroleum during the 4th quarter valued at about $31,000. Berbice Capital Management LLC increased its position in shares of 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 valued at $33,000 after buying an additional 100 shares during the period. Finally, WFA of San Diego LLC bought a new position in shares of Marathon Petroleum in the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

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.