Citigroup Increases Marathon Petroleum (NYSE:MPC) Price Target to $70.00

Marathon Petroleum (NYSE:MPC) had its price target raised by equities research analysts at Citigroup from $58.00 to $70.00 in a report issued on Wednesday, The Fly reports. The firm presently has a “neutral” rating on the oil and gas company’s stock. Citigroup’s price objective suggests a potential upside of 10.34% from the company’s previous close.

Other research analysts have also issued reports about the company. Royal Bank of Canada raised their price objective on Marathon Petroleum from $60.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, May 5th. Piper Sandler raised their price objective on Marathon Petroleum from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, April 1st. Raymond James raised Marathon Petroleum from a “market perform” rating to a “strong-buy” rating and set a $69.00 price objective on the stock in a research report on Friday, April 16th. Credit Suisse Group started coverage on Marathon Petroleum in a research report on Monday, May 17th. They issued an “outperform” rating on the stock. Finally, TheStreet raised Marathon Petroleum from a “d+” rating to a “c-” rating in a research report on Monday, March 8th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $59.79.

Shares of Marathon Petroleum stock opened at $63.44 on Wednesday. Marathon Petroleum has a twelve month low of $26.56 and a twelve month high of $64.84. The firm has a market capitalization of $41.40 billion, a PE ratio of -38.68, a P/E/G ratio of 1.29 and a beta of 2.16. The company has a quick ratio of 1.36, a current ratio of 1.89 and a debt-to-equity ratio of 1.08. The firm has a fifty day moving average price of $57.83.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, May 4th. The oil and gas company reported ($0.20) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.72) by $0.52. Marathon Petroleum had a negative return on equity of 7.64% and a negative net margin of 1.43%. The firm had revenue of $22.88 billion for the quarter, compared to analysts’ expectations of $19.80 billion. During the same quarter last year, the firm earned ($0.16) earnings per share. The firm’s revenue for the quarter was down 5.0% compared to the same quarter last year. As a group, analysts predict that Marathon Petroleum will post 1.69 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of the stock. JT Stratford LLC grew its stake in Marathon Petroleum by 2.1% in the first quarter. JT Stratford LLC now owns 8,593 shares of the oil and gas company’s stock worth $460,000 after purchasing an additional 180 shares in the last quarter. TCI Wealth Advisors Inc. grew its stake in Marathon Petroleum by 5.3% in the first quarter. TCI Wealth Advisors Inc. now owns 4,043 shares of the oil and gas company’s stock worth $216,000 after purchasing an additional 204 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in Marathon Petroleum by 15.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,562 shares of the oil and gas company’s stock valued at $65,000 after acquiring an additional 210 shares during the period. Loomis Sayles & Co. L P boosted its stake in Marathon Petroleum by 47.8% in the first quarter. Loomis Sayles & Co. L P now owns 649 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 210 shares during the period. Finally, Stillwater Investment Management LLC boosted its stake in Marathon Petroleum by 1.0% in the first quarter. Stillwater Investment Management LLC now owns 21,362 shares of the oil and gas company’s stock valued at $1,143,000 after acquiring an additional 211 shares during the period. Institutional investors and hedge funds own 76.18% of the company’s stock.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates in two segments: Refining & Marketing, and Midstream. 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.

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