Wells Fargo & Company Trims Marathon Petroleum (NYSE:MPC) Target Price to $113.00

Marathon Petroleum (NYSE:MPC – Get Rating) had its price target reduced by stock analysts at Wells Fargo & Company from $124.00 to $113.00 in a research note issued on Friday, The Fly reports. Wells Fargo & Company’s price objective would suggest a potential upside of 6.75% from the company’s current price.

Several other equities analysts have also issued reports on MPC. StockNews.com upgraded shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a report on Wednesday. Barclays decreased their target price on Marathon Petroleum from $139.00 to $124.00 in a research report on Sunday, May 7th. Piper Sandler decreased their target price on Marathon Petroleum from $154.00 to $138.00 in a research report on Thursday, May 18th. Mizuho decreased their target price on Marathon Petroleum from $160.00 to $148.00 in a research report on Friday, May 19th. Finally, Jefferies Financial Group raised Marathon Petroleum from a “hold” rating to a “buy” rating and boosted their target price for the company from $134.00 to $157.00 in a research report on Friday, March 3rd. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Marathon Petroleum has an average rating of “Moderate Buy” and an average target price of $141.40.

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Marathon Petroleum Stock Performance

NYSE MPC opened at $105.85 on Friday. The firm’s fifty day moving average price is $119.66 and its two-hundred day moving average price is $120.76. The stock has a market cap of $44.91 billion, a PE ratio of 3.19, a PEG ratio of 0.91 and a beta of 1.64. Marathon Petroleum has a fifty-two week low of $77.62 and a fifty-two week high of $138.83. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.30 and a current ratio of 1.90.

Marathon Petroleum (NYSE:MPC – Get Rating) last issued its quarterly earnings results on Tuesday, May 2nd. The oil and gas company reported $6.09 EPS for the quarter, topping analysts’ consensus estimates of $5.23 by $0.86. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $35.17 billion. Marathon Petroleum had a net margin of 9.28% and a return on equity of 46.49%. Marathon Petroleum’s revenue was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.49 earnings per share. On average, equities analysts expect that Marathon Petroleum will post 19.23 EPS for the current fiscal year.

Marathon Petroleum announced that its Board of Directors has initiated a share repurchase plan on Tuesday, May 2nd that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to reacquire up to 10.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Marathon Petroleum

In other news, SVP Suzanne Gagle sold 60,019 shares of the company’s stock in a transaction on Tuesday, April 4th. The shares were sold at an average price of $134.28, for a total value of $8,059,351.32. Following the transaction, the senior vice president now owns 45,997 shares of the company’s stock, valued at $6,176,477.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.28% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Morgan Stanley increased its stake in Marathon Petroleum by 1.1% in the fourth quarter. Morgan Stanley now owns 7,851,320 shares of the oil and gas company’s stock valued at $913,815,000 after acquiring an additional 85,809 shares during the last quarter. FMR LLC increased its stake in Marathon Petroleum by 15.1% in the first quarter. FMR LLC now owns 6,281,751 shares of the oil and gas company’s stock valued at $846,968,000 after acquiring an additional 821,891 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Marathon Petroleum by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,594,517 shares of the oil and gas company’s stock valued at $651,119,000 after acquiring an additional 123,745 shares during the last quarter. Amundi increased its stake in Marathon Petroleum by 31.5% in the fourth quarter. Amundi now owns 4,966,996 shares of the oil and gas company’s stock valued at $582,375,000 after acquiring an additional 1,189,288 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC increased its stake in Marathon Petroleum by 121,130.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,942,426 shares of the oil and gas company’s stock valued at $458,859,000 after acquiring an additional 3,939,174 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Marathon Petroleum Company Profile

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Marathon Petroleum Corp. is an independent company, which engages in the refining, marketing, and transportation of petroleum products in the United States. It operates through the following segments: Refining and Marketing, and Midstream. The Refining and 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.