Marathon Petroleum (NYSE:MPC) Given New $182.00 Price Target at Citigroup

Marathon Petroleum (NYSE:MPC) had its price target decreased by equities researchers at Citigroup from $185.00 to $182.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. Citigroup’s target price points to a potential upside of 0.56% from the company’s previous close.

A number of other research firms have also issued reports on MPC. Piper Sandler lowered their target price on Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Raymond James Financial lowered their price target on Marathon Petroleum from $215.00 to $205.00 and set an “outperform” rating for the company in a report on Monday, December 22nd. UBS Group upped their price objective on Marathon Petroleum from $203.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Morgan Stanley upped their price target on shares of Marathon Petroleum from $182.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, October 3rd. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Marathon Petroleum in a research note on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $199.79.

Marathon Petroleum Price Performance

MPC traded up $5.13 on Wednesday, hitting $180.98. 2,820,861 shares of the company’s stock were exchanged, compared to its average volume of 2,572,491. The stock has a market cap of $54.40 billion, a price-to-earnings ratio of 19.29, a P/E/G ratio of 0.70 and a beta of 0.74. Marathon Petroleum has a fifty-two week low of $115.10 and a fifty-two week high of $202.29. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 1.31. The firm has a 50-day moving average price of $182.60 and a 200-day moving average price of $180.56.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.01. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%.The business had revenue of $34.81 billion during the quarter, compared to analysts’ expectations of $31.06 billion. As a group, equities analysts anticipate that Marathon Petroleum will post 8.47 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Concord Asset Management LLC VA bought a new stake in Marathon Petroleum in the 2nd quarter valued at $412,000. Los Angeles Capital Management LLC raised its holdings in shares of Marathon Petroleum by 459.5% in the second quarter. Los Angeles Capital Management LLC now owns 189,973 shares of the oil and gas company’s stock valued at $31,556,000 after purchasing an additional 156,019 shares during the last quarter. FSM Wealth Advisors LLC bought a new position in shares of Marathon Petroleum during the 2nd quarter valued at approximately $685,000. Generali Asset Management SPA SGR grew its position in shares of Marathon Petroleum by 36.8% in the third quarter. Generali Asset Management SPA SGR now owns 41,225 shares of the oil and gas company’s stock valued at $7,946,000 after purchasing an additional 11,082 shares in the last quarter. Finally, Greatmark Investment Partners Inc. raised its holdings in shares of Marathon Petroleum by 2.9% in the 2nd quarter. Greatmark Investment Partners Inc. now owns 168,603 shares of the oil and gas company’s stock valued at $28,007,000 after acquiring an additional 4,820 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

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.