JPMorgan Chase & Co. Lowers Marathon Petroleum (NYSE:MPC) Price Target to $186.00

Marathon Petroleum (NYSE:MPC) had its price objective lowered by stock analysts at JPMorgan Chase & Co. from $191.00 to $186.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 6.29% from the company’s previous close.

A number of other equities analysts also recently weighed in on MPC. Barclays lowered their target price on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday. Bank of America lifted their target price on shares of Marathon Petroleum from $185.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. The Goldman Sachs Group lifted their target price on shares of Marathon Petroleum from $175.00 to $211.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Wells Fargo & Company lowered their target price on shares of Marathon Petroleum from $227.00 to $223.00 and set an “overweight” rating for the company in a research note on Thursday, June 6th. Finally, Tudor Pickering raised shares of Marathon Petroleum to a “strong-buy” rating in a research note on Thursday, May 30th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $191.31.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $174.99 on Tuesday. Marathon Petroleum has a fifty-two week low of $112.82 and a fifty-two week high of $221.11. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 0.99. The firm has a market capitalization of $61.65 billion, a P/E ratio of 8.74, a P/E/G ratio of 1.62 and a beta of 1.40. The company’s 50 day moving average price is $177.73 and its two-hundred day moving average price is $176.31.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.25. The company had revenue of $32.71 billion for the quarter, compared to analyst estimates of $32.07 billion. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. Marathon Petroleum’s revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.09 earnings per share. On average, equities analysts forecast that Marathon Petroleum will post 17.85 earnings per share for the current fiscal year.

Marathon Petroleum announced that its board has initiated a stock repurchase plan on Tuesday, April 30th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to buy up to 7.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Marathon Petroleum

Several hedge funds and other institutional investors have recently modified their holdings of the business. Moody National Bank Trust Division increased its holdings in Marathon Petroleum by 3.1% during the 2nd quarter. Moody National Bank Trust Division now owns 9,626 shares of the oil and gas company’s stock worth $1,670,000 after acquiring an additional 292 shares during the period. Massmutual Trust Co. FSB ADV increased its holdings in Marathon Petroleum by 8.5% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,175 shares of the oil and gas company’s stock worth $204,000 after acquiring an additional 92 shares during the period. GAMMA Investing LLC increased its holdings in Marathon Petroleum by 99.0% during the 2nd quarter. GAMMA Investing LLC now owns 10,298 shares of the oil and gas company’s stock worth $1,786,000 after acquiring an additional 5,124 shares during the period. Transcend Capital Advisors LLC increased its holdings in Marathon Petroleum by 21.2% during the 2nd quarter. Transcend Capital Advisors LLC now owns 2,770 shares of the oil and gas company’s stock worth $481,000 after acquiring an additional 485 shares during the period. Finally, Cullen Investment Group LTD. increased its holdings in Marathon Petroleum by 3.3% during the 2nd quarter. Cullen Investment Group LTD. now owns 50,800 shares of the oil and gas company’s stock worth $8,813,000 after acquiring an additional 1,607 shares during the period. Institutional investors own 76.77% of the company’s stock.

About Marathon Petroleum

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. 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 and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.