Citigroup Raises Marathon Petroleum (NYSE:MPC) Price Target to $71.00

Marathon Petroleum (NYSE:MPC) had its price target raised by Citigroup from $60.00 to $71.00 in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. Citigroup currently has a buy rating on the oil and gas company’s stock.

A number of other research analysts have also recently issued reports on MPC. Wells Fargo & Co lifted their price objective on shares of Marathon Petroleum from $75.00 to $77.00 and gave the company an outperform rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. decreased their price objective on shares of Marathon Petroleum from $74.00 to $62.00 and set an overweight rating on the stock in a research note on Tuesday, September 10th. Mizuho set a $90.00 price objective on shares of Marathon Petroleum and gave the company a buy rating in a research note on Thursday, September 26th. ValuEngine raised shares of Marathon Petroleum from a sell rating to a hold rating in a research note on Thursday, September 26th. Finally, Cowen lifted their price objective on shares of Marathon Petroleum from $57.00 to $60.00 and gave the company a market perform rating in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $72.93.

Shares of MPC opened at $65.14 on Thursday. Marathon Petroleum has a 12 month low of $43.96 and a 12 month high of $76.58. The firm’s 50 day moving average is $57.02 and its 200-day moving average is $54.46. The stock has a market capitalization of $42.20 billion, a PE ratio of 9.61, a P/E/G ratio of 1.68 and a beta of 1.71. The company has a current ratio of 1.24, a quick ratio of 0.63 and a debt-to-equity ratio of 0.69.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Thursday, August 1st. The oil and gas company reported $1.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.40. Marathon Petroleum had a net margin of 2.36% and a return on equity of 9.55%. The company had revenue of $33.70 billion for the quarter, compared to analysts’ expectations of $33.26 billion. During the same period last year, the firm earned $2.27 earnings per share. The business’s revenue for the quarter was up 50.1% on a year-over-year basis. Equities research analysts predict that Marathon Petroleum will post 3.83 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its stake in shares of Marathon Petroleum by 2.3% during the second quarter. BlackRock Inc. now owns 56,398,616 shares of the oil and gas company’s stock worth $3,151,555,000 after buying an additional 1,251,901 shares during the last quarter. Steadfast Capital Management LP grew its stake in shares of Marathon Petroleum by 45.6% during the second quarter. Steadfast Capital Management LP now owns 7,369,706 shares of the oil and gas company’s stock worth $411,819,000 after buying an additional 2,307,655 shares during the last quarter. Boston Partners grew its stake in shares of Marathon Petroleum by 214.8% during the second quarter. Boston Partners now owns 7,202,381 shares of the oil and gas company’s stock worth $402,410,000 after buying an additional 4,914,767 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Marathon Petroleum by 52.4% during the second quarter. Invesco Ltd. now owns 6,712,810 shares of the oil and gas company’s stock worth $375,112,000 after purchasing an additional 2,308,553 shares during the period. Finally, Third Point LLC lifted its holdings in shares of Marathon Petroleum by 14.3% during the second quarter. Third Point LLC now owns 4,000,000 shares of the oil and gas company’s stock worth $223,520,000 after purchasing an additional 500,000 shares during the period. 76.57% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Company Profile

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; Retail; 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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