Marathon Petroleum Corporation’s (MPC) Buy Rating Reiterated at Cowen and Company

Cowen and Company reissued their buy rating on shares of Marathon Petroleum Corporation (NYSE:MPC) in a research note released on Tuesday morning. The brokerage currently has a $60.00 price objective on the oil and gas company’s stock.

A number of other equities analysts have also recently issued reports on the stock. Bank of America Corporation cut shares of Marathon Petroleum Corporation from a buy rating to a neutral rating in a research report on Tuesday, September 5th. Wells Fargo & Co cut shares of Marathon Petroleum Corporation from an outperform rating to a market perform rating and decreased their price objective for the company from $65.00 to $56.00 in a research report on Tuesday, September 5th. Zacks Investment Research cut shares of Marathon Petroleum Corporation from a hold rating to a sell rating in a research report on Thursday, July 27th. Scotiabank restated a hold rating and issued a $55.00 price objective on shares of Marathon Petroleum Corporation in a research report on Friday, September 1st. Finally, Royal Bank Of Canada restated a buy rating and issued a $71.00 price objective on shares of Marathon Petroleum Corporation in a research report on Thursday, August 31st. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Marathon Petroleum Corporation currently has a consensus rating of Buy and an average price target of $60.63.

Shares of Marathon Petroleum Corporation (NYSE:MPC) traded up 0.68% during mid-day trading on Tuesday, reaching $57.49. 3,904,883 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $54.86 and a 200-day moving average price of $53.01. Marathon Petroleum Corporation has a one year low of $40.01 and a one year high of $57.74. The stock has a market cap of $29.10 billion, a PE ratio of 34.28 and a beta of 1.56.

Marathon Petroleum Corporation (NYSE:MPC) last released its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.01). Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. The firm had revenue of $18.35 billion during the quarter, compared to analysts’ expectations of $19.98 billion. During the same quarter in the previous year, the firm posted $1.07 EPS. Marathon Petroleum Corporation’s revenue was up 9.3% compared to the same quarter last year. On average, analysts predict that Marathon Petroleum Corporation will post $3.27 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “Marathon Petroleum Corporation’s (MPC) Buy Rating Reiterated at Cowen and Company” was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this report on another publication, it was stolen and reposted in violation of US and international copyright & trademark laws. The original version of this report can be viewed at https://ledgergazette.com/2017/10/20/marathon-petroleum-corporations-mpc-buy-rating-reiterated-at-cowen-and-company.html.

In related news, VP C. Michael Palmer sold 11,450 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.02, for a total transaction of $607,079.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.05% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Blue Chip Partners Inc. bought a new stake in Marathon Petroleum Corporation during the second quarter worth about $100,000. Guardian Life Insurance Co. of America boosted its stake in Marathon Petroleum Corporation by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 2,036 shares of the oil and gas company’s stock worth $103,000 after acquiring an additional 14 shares in the last quarter. Lee Financial Co boosted its stake in Marathon Petroleum Corporation by 2.4% during the second quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock worth $107,000 after acquiring an additional 48 shares in the last quarter. Jacobi Capital Management LLC boosted its stake in Marathon Petroleum Corporation by 32.2% during the first quarter. Jacobi Capital Management LLC now owns 2,340 shares of the oil and gas company’s stock worth $116,000 after acquiring an additional 570 shares in the last quarter. Finally, First Interstate Bank boosted its stake in Marathon Petrol

A number of other equities analysts have also recently issued reports on the stock. Bank of America Corporation cut shares of Marathon Petroleum Corporation from a buy rating to a neutral rating in a research report on Tuesday, September 5th. Wells Fargo & Co cut shares of Marathon Petroleum Corporation from an outperform rating to a market perform rating and decreased their price objective for the company from $65.00 to $56.00 in a research report on Tuesday, September 5th. Zacks Investment Research cut shares of Marathon Petroleum Corporation from a hold rating to a sell rating in a research report on Thursday, July 27th. Scotiabank restated a hold rating and issued a $55.00 price objective on shares of Marathon Petroleum Corporation in a research report on Friday, September 1st. Finally, Royal Bank Of Canada restated a buy rating and issued a $71.00 price objective on shares of Marathon Petroleum Corporation in a research report on Thursday, August 31st. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Marathon Petroleum Corporation currently has a consensus rating of Buy and an average price target of $60.63.

Shares of Marathon Petroleum Corporation (NYSE:MPC) traded up 0.68% during mid-day trading on Tuesday, reaching $57.49. 3,904,883 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $54.86 and a 200-day moving average price of $53.01. Marathon Petroleum Corporation has a one year low of $40.01 and a one year high of $57.74. The stock has a market cap of $29.10 billion, a PE ratio of 34.28 and a beta of 1.56.

Marathon Petroleum Corporation (NYSE:MPC) last released its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.01). Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. The firm had revenue of $18.35 billion during the quarter, compared to analysts’ expectations of $19.98 billion. During the same quarter in the previous year, the firm posted $1.07 EPS. Marathon Petroleum Corporation’s revenue was up 9.3% compared to the same quarter last year. On average, analysts predict that Marathon Petroleum Corporation will post $3.27 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “Marathon Petroleum Corporation’s (MPC) Buy Rating Reiterated at Cowen and Company” was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this report on another publication, it was stolen and reposted in violation of US and international copyright & trademark laws. The original version of this report can be viewed at https://ledgergazette.com/2017/10/20/marathon-petroleum-corporations-mpc-buy-rating-reiterated-at-cowen-and-company.html.

In related news, VP C. Michael Palmer sold 11,450 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.02, for a total transaction of $607,079.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.05% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Blue Chip Partners Inc. bought a new stake in Marathon Petroleum Corporation during the second quarter worth about $100,000. Guardian Life Insurance Co. of America boosted its stake in Marathon Petroleum Corporation by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 2,036 shares of the oil and gas company’s stock worth $103,000 after acquiring an additional 14 shares in the last quarter. Lee Financial Co boosted its stake in Marathon Petroleum Corporation by 2.4% during the second quarter. Lee Financial Co now owns 2,048 shares of the oil and gas company’s stock worth $107,000 after acquiring an additional 48 shares in the last quarter. Jacobi Capital Management LLC boosted its stake in Marathon Petroleum Corporation by 32.2% during the first quarter. Jacobi Capital Management LLC now owns 2,340 shares of the oil and gas company’s stock worth $116,000 after acquiring an additional 570 shares in the last quarter. Finally, First Interstate Bank boosted its stake in Marathon Petroleum Corporation by 81.1% during the second quarter. First Interstate Bank now owns 2,376 shares of the oil and gas company’s stock worth $124,000 after acquiring an additional 1,064 shares in the last quarter. 78.24% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Marathon Petroleum Corporation (NYSE:MPC)

Receive News & Ratings for Marathon Petroleum Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Petroleum Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply