Marathon Petroleum (NYSE:MPC) Given New $260.00 Price Target at Bank of America

Marathon Petroleum (NYSE:MPC) had its target price upped by equities research analysts at Bank of America from $224.00 to $260.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. Bank of America‘s price target points to a potential upside of 1.05% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Scotiabank increased their price objective on shares of Marathon Petroleum from $174.00 to $210.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Citigroup upped their target price on Marathon Petroleum from $243.00 to $257.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Weiss Ratings cut Marathon Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. UBS Group set a $285.00 price target on Marathon Petroleum in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. upped their price objective on Marathon Petroleum from $235.00 to $257.00 in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and a consensus price target of $264.75.

Marathon Petroleum Stock Up 1.0%

Marathon Petroleum stock traded up $2.64 during midday trading on Tuesday, reaching $257.29. The stock had a trading volume of 291,993 shares, compared to its average volume of 2,475,241. The stock has a market capitalization of $75.11 billion, a P/E ratio of 16.79, a price-to-earnings-growth ratio of 0.33 and a beta of 0.53. The firm’s fifty day simple moving average is $238.83 and its 200-day simple moving average is $206.18. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18. Marathon Petroleum has a 1-year low of $155.93 and a 1-year high of $264.14.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.91. The company had revenue of $34.20 billion during the quarter, compared to analysts’ expectations of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the business earned ($0.24) EPS. As a group, analysts expect that Marathon Petroleum will post 29.67 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Ricky D. Hessling sold 1,810 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $224.78, for a total transaction of $406,851.80. Following the transaction, the insider owned 10,188 shares in the company, valued at approximately $2,290,058.64. This trade represents a 15.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 4,473 shares of company stock worth $1,015,428 over the last three months. Insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Marathon Petroleum

A number of institutional investors have recently modified their holdings of MPC. Navalign LLC bought a new position in shares of Marathon Petroleum during the fourth quarter worth approximately $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Marathon Petroleum in the fourth quarter valued at approximately $31,000. Berbice Capital Management LLC boosted its stake in shares of Marathon Petroleum by 100.0% in the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 100 shares during the period. WFA of San Diego LLC acquired a new stake in Marathon Petroleum during the second quarter worth approximately $33,000. Finally, Ares Financial Consulting LLC bought a new position in Marathon Petroleum during the 4th quarter worth $34,000. Institutional investors own 76.77% of the company’s stock.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.