Marathon Petroleum (NYSE:MPC) PT Raised to $110.00 at Wells Fargo & Company

Marathon Petroleum (NYSE:MPC – Get Rating) had its price target upped by Wells Fargo & Company from $91.00 to $110.00 in a report issued on Thursday, MarketBeat Ratings reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 26.32% from the stock’s current price.

Several other brokerages have also commented on MPC. Cowen upped their price target on shares of Marathon Petroleum from $83.00 to $90.00 in a research report on Thursday, February 3rd. Barclays upped their price target on shares of Marathon Petroleum from $68.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 11th. TheStreet raised shares of Marathon Petroleum from a “c+” rating to a “b” rating in a research report on Wednesday, March 2nd. Morgan Stanley upped their price target on shares of Marathon Petroleum from $90.00 to $115.00 and gave the stock an “overweight” rating in a research report on Monday, April 18th. Finally, StockNews.com began coverage on shares of Marathon Petroleum in a research report on Thursday, March 31st. They set a “buy” rating for the company. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $89.67.

NYSE:MPC opened at $87.08 on Thursday. The firm has a 50 day simple moving average of $80.99 and a 200-day simple moving average of $72.13. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.70 and a quick ratio of 1.25. The firm has a market cap of $48.64 billion, a PE ratio of 5.81, a P/E/G ratio of 0.74 and a beta of 1.92. Marathon Petroleum has a 1-year low of $50.19 and a 1-year high of $93.16.

Marathon Petroleum (NYSE:MPC – Get Rating) last posted its quarterly earnings data on Wednesday, February 2nd. The oil and gas company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.83. The business had revenue of $35.61 billion during the quarter, compared to analyst estimates of $25.79 billion. Marathon Petroleum had a net margin of 8.05% and a return on equity of 4.74%. The company’s revenue was up 95.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.94) earnings per share. As a group, sell-side analysts expect that Marathon Petroleum will post 6.38 earnings per share for the current fiscal year.

In other news, VP Carl Kristopher Hagedorn sold 4,695 shares of the company’s stock in a transaction on Friday, February 4th. The shares were sold at an average price of $77.66, for a total value of $364,613.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kim K.W. Rucker sold 5,000 shares of the company’s stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $83.00, for a total transaction of $415,000.00. The disclosure for this sale can be found here. Insiders sold 14,695 shares of company stock valued at $1,178,364 over the last 90 days. Insiders own 0.28% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Moors & Cabot Inc. boosted its stake in Marathon Petroleum by 131.2% during the 3rd quarter. Moors & Cabot Inc. now owns 25,000 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 14,188 shares during the last quarter. Addison Advisors LLC bought a new position in Marathon Petroleum during the 4th quarter valued at $28,000. Riverview Trust Co bought a new position in Marathon Petroleum during the 1st quarter valued at $29,000. Ellis Investment Partners LLC bought a new position in Marathon Petroleum during the 4th quarter valued at $30,000. Finally, Dixon Hughes Goodman Wealth Advisors LLC boosted its stake in Marathon Petroleum by 138.5% during the 1st quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 353 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 205 shares during the last quarter. Hedge funds and other institutional investors own 76.01% of the company’s stock.

About Marathon Petroleum (Get Rating)

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments: Refining & Marketing, and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale.

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