Zacks Investment Research upgraded shares of Marathon Petroleum (NYSE:MPC) from a hold rating to a buy rating in a research report report published on Tuesday. Zacks Investment Research currently has $94.00 price objective on the oil and gas company’s stock.
According to Zacks, “Of late, Marathon Petroleum has benefitted from strong fuel margin, which rose to $15.40 per barrel in the second quarter from $11.32 a year ago. Better-than-expected operating income from the Midstream unit also drove recent results. Meanwhile, Marathon Petroleum closed the much-anticipated merger with Andeavor. Apart from making Marathon Petroleum the top independent refiner in the U.S., the $23.3 billion deal created a nationwide refining giant in terms of geographic foothold with an enviableretail and marketing portfolio. Therefore, considering Marathon Petroleum's fantasticgrowth prospects, the stock is expected to perform above the broader market.”
Get Marathon Petroleum alerts:MPC has been the subject of a number of other research reports. Citigroup lifted their price objective on Marathon Petroleum from $95.00 to $100.00 and gave the company a buy rating in a research report on Friday, September 7th. JPMorgan Chase & Co. lifted their price objective on Marathon Petroleum from $98.00 to $102.00 and gave the company an overweight rating in a research report on Friday, July 27th. Goldman Sachs Group assumed coverage on Marathon Petroleum in a research report on Tuesday, October 2nd. They set a conviction-buy rating for the company. Mizuho assumed coverage on Marathon Petroleum in a research report on Wednesday, August 1st. They set a buy rating and a $95.00 price objective for the company. Finally, Royal Bank of Canada reissued a buy rating and set a $87.00 price objective on shares of Marathon Petroleum in a research report on Friday, July 27th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Marathon Petroleum has a consensus rating of Buy and an average target price of $91.75.
MPC opened at $80.08 on Tuesday. The firm has a market cap of $36.07 billion, a P/E ratio of 21.07, a PEG ratio of 1.34 and a beta of 1.50. Marathon Petroleum has a 1 year low of $55.68 and a 1 year high of $88.45. The company has a quick ratio of 1.04, a current ratio of 1.60 and a debt-to-equity ratio of 0.92.
Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Thursday, July 26th. The oil and gas company reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.29. The firm had revenue of $22.45 billion during the quarter, compared to analysts’ expectations of $22.14 billion. Marathon Petroleum had a return on equity of 12.83% and a net margin of 4.89%. The business’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.93 earnings per share. As a group, analysts predict that Marathon Petroleum will post 5.05 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. NEXT Financial Group Inc bought a new position in shares of Marathon Petroleum in the third quarter worth about $124,000. Legacy Financial Advisors Inc. bought a new position in shares of Marathon Petroleum in the second quarter worth about $113,000. Northwest Wealth Management LLC bought a new position in shares of Marathon Petroleum in the second quarter worth about $116,000. Private Capital Group LLC increased its stake in shares of Marathon Petroleum by 547.0% in the first quarter. Private Capital Group LLC now owns 1,708 shares of the oil and gas company’s stock worth $125,000 after purchasing an additional 1,444 shares during the period. Finally, Norway Savings Bank bought a new position in shares of Marathon Petroleum in the second quarter worth about $126,000. Institutional investors own 82.78% of the company’s stock.
About Marathon Petroleum
Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing, Speedway and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.
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