Zacks Research Downgrades Marathon Petroleum (NYSE:MPC) to Hold

Marathon Petroleum (NYSE:MPC) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Several other analysts have also weighed in on the stock. Jefferies Financial Group lifted their price objective on shares of Marathon Petroleum from $279.00 to $296.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. The Goldman Sachs Group increased their target price on shares of Marathon Petroleum from $264.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Piper Sandler raised their price target on shares of Marathon Petroleum from $197.00 to $228.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Wall Street Zen raised shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $344.00 price objective on shares of Marathon Petroleum in a research report on Monday. Ten research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum has an average rating of “Moderate Buy” and a consensus price target of $272.94.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $243.11 on Wednesday. The business has a 50-day moving average price of $244.96 and a two-hundred day moving average price of $214.12. Marathon Petroleum has a 1-year low of $158.00 and a 1-year high of $272.46. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31. The company has a market cap of $70.97 billion, a P/E ratio of 15.87, a PEG ratio of 0.38 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The company had revenue of $34.20 billion for the quarter, compared to the consensus estimate of $33.42 billion. During the same period in the previous year, the business earned ($0.24) EPS. The firm’s revenue was up 8.5% compared to the same quarter last year. As a group, analysts anticipate that Marathon Petroleum will post 31.35 EPS for the current year.

Insider Buying and Selling

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the sale, the vice president owned 16,900 shares in the company, valued at approximately $4,543,058. The trade was a 27.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Marathon Petroleum

Several hedge funds and other institutional investors have recently made changes to their positions in MPC. Alberta Investment Management Corp purchased a new stake in Marathon Petroleum in the third quarter worth about $2,891,000. Diversified Trust Co. lifted its holdings in shares of Marathon Petroleum by 39.3% during the fourth quarter. Diversified Trust Co. now owns 15,675 shares of the oil and gas company’s stock valued at $2,549,000 after purchasing an additional 4,419 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Marathon Petroleum in the 3rd quarter worth approximately $1,004,000. USA Financial Formulas bought a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $791,000. Finally, KBC Group NV grew its stake in shares of Marathon Petroleum by 22.4% in the 4th quarter. KBC Group NV now owns 225,837 shares of the oil and gas company’s stock worth $36,728,000 after buying an additional 41,259 shares during the last quarter. 76.77% of the stock is owned by institutional investors.

Trending Headlines about Marathon Petroleum

Here are the key news stories impacting Marathon Petroleum this week:

• Positive Sentiment: Wall Street’s broadly bullish analyst views suggest investors still see upside potential in Marathon Petroleum, even after its strong recent performance. Is It Worth Investing in Marathon Petroleum (MPC) Based on Wall Street’s Bullish Views?
• Positive Sentiment: One market analysis said MPC could be about 5.5% undervalued, which may attract value-focused buyers if investors believe the refining business remains resilient. Marathon Petroleum (MPC) Stock Could Be 5.5% Undervalued Despite Its Strong Run
• Neutral Sentiment: Recent coverage comparing MPC with Delek and other refiners is keeping attention on valuation and earnings revisions, but it does not point to a clear near-term catalyst on its own. Delek vs. Marathon Petroleum: Which Stock Offers Better Refining Bet?
• Negative Sentiment: A trading-day recap noted that MPC declined more than the broader market, signaling some profit-taking or weaker sentiment in the near term. Marathon Petroleum (MPC) Sees a More Significant Dip Than Broader Market: Some Facts to Know
• Negative Sentiment: Oil-market headlines about the Strait of Hormuz reopening could weigh on refining and energy sentiment if traders expect less geopolitical support for crude prices. Marathon Petroleum (MPC) Faces A New Oil Reality As The Strait Of Hormuz Reopens

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.