ValuEngine Upgrades Marathon Petroleum Corporation (MPC) to “Buy”

Marathon Petroleum Corporation (NYSE:MPC) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Friday, September 1st.

MPC has been the topic of a number of other research reports. BidaskClub downgraded shares of Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. Jefferies Group LLC set a $65.00 price target on shares of Marathon Petroleum Corporation and gave the stock a “buy” rating in a research note on Friday, August 25th. Zacks Investment Research upgraded shares of Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Scotiabank set a $55.00 price target on shares of Marathon Petroleum Corporation and gave the stock a “hold” rating in a research note on Tuesday, July 11th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $62.00 price target on shares of Marathon Petroleum Corporation in a research note on Thursday, May 25th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Marathon Petroleum Corporation has an average rating of “Buy” and an average target price of $59.67.

Marathon Petroleum Corporation (NYSE:MPC) traded up 1.18% on Friday, hitting $52.96. 9,062,782 shares of the stock were exchanged. The stock has a market cap of $26.81 billion, a PE ratio of 31.58 and a beta of 1.56. Marathon Petroleum Corporation has a 1-year low of $39.29 and a 1-year high of $56.81. The company’s 50 day moving average is $52.82 and its 200 day moving average is $52.06.

Marathon Petroleum Corporation (NYSE:MPC) last announced its earnings results on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.01). Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. The company had revenue of $18.35 billion for the quarter, compared to the consensus estimate of $19.98 billion. During the same period last year, the firm posted $1.07 EPS. The company’s revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts expect that Marathon Petroleum Corporation will post $2.90 earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently modified their holdings of MPC. CGOV Asset Management lifted its position in Marathon Petroleum Corporation by 30.0% during the 1st quarter. CGOV Asset Management now owns 13,000 shares of the oil and gas company’s stock worth $875,000 after buying an additional 3,000 shares in the last quarter. Glen Harbor Capital Management LLC lifted its position in Marathon Petroleum Corporation by 3.1% during the 1st quarter. Glen Harbor Capital Management LLC now owns 13,312 shares of the oil and gas company’s stock worth $673,000 after buying an additional 400 shares in the last quarter. Wetherby Asset Management Inc. lifted its position in Marathon Petroleum Corporation by 5.3% during the 1st quarter. Wetherby Asset Management Inc. now owns 8,754 shares of the oil and gas company’s stock worth $442,000 after buying an additional 441 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD lifted its position in Marathon Petroleum Corporation by 9.1% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 44,110 shares of the oil and gas company’s stock worth $2,229,000 after buying an additional 3,670 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position in Marathon Petroleum Corporation by 8.1% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 130,072 shares of the oil and gas company’s stock worth $6,574,000 after buying an additional 9,800 shares in the last quarter. Institutional investors and hedge funds own 78.85% of the company’s stock.

About Marathon Petroleum Corporation

Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.

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Analyst Recommendations for Marathon Petroleum Corporation (NYSE:MPC)

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