Fintel reports that on August 2, 2023, RBC Capital maintained coverage of Marathon Petroleum (NYSE:MPC) with a Outperform recommendation.
Analyst Price Forecast Suggests 7.95% Upside
As of August 2, 2023, the average one-year price target for Marathon Petroleum is 146.68. The forecasts range from a low of 121.20 to a high of $173.25. The average price target represents an increase of 7.95% from its latest reported closing price of 135.87.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Marathon Petroleum is 142,064MM, a decrease of 9.81%. The projected annual non-GAAP EPS is 14.79.
What is the Fund Sentiment?
There are 2358 funds or institutions reporting positions in Marathon Petroleum. This is an increase of 32 owner(s) or 1.38% in the last quarter. Average portfolio weight of all funds dedicated to MPC is 0.44%, a decrease of 0.47%. Total shares owned by institutions decreased in the last three months by 8.01% to 361,094K shares. 
The put/call ratio of MPC is 0.65, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 13,794K shares representing 3.25% ownership of the company. In it's prior filing, the firm reported owning 14,245K shares, representing a decrease of 3.27%. The firm increased its portfolio allocation in MPC by 3.58% over the last quarter.
XLE - The Energy Select Sector SPDR Fund holds 13,048K shares representing 3.08% ownership of the company. In it's prior filing, the firm reported owning 13,566K shares, representing a decrease of 3.97%. The firm increased its portfolio allocation in MPC by 19.81% over the last quarter.
Elliott Investment Management holds 11,065K shares representing 2.61% ownership of the company. No change in the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 10,594K shares representing 2.50% ownership of the company. In it's prior filing, the firm reported owning 10,834K shares, representing a decrease of 2.27%. The firm increased its portfolio allocation in MPC by 5.05% over the last quarter.
Geode Capital Management holds 8,215K shares representing 1.94% ownership of the company. In it's prior filing, the firm reported owning 8,435K shares, representing a decrease of 2.68%. The firm increased its portfolio allocation in MPC by 4.45% over the last quarter.
Marathon Petroleum Background Information
(This description is provided by the company.)
Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. The company operates the nation's largest refining system. MPC's marketing system includes branded locations across the United States, including Marathon brand retail outlets. Speedway LLC, an MPC subsidiary, owns and operates retail convenience stores across the United States. MPC also owns the general partner and majority limited partner interest in MPLX LP, a midstream company that owns and operates gathering, processing, and fractionation assets, as well as crude oil and light product transportation and logistics infrastructure.
Additional reading:
- Marathon Petroleum Corp. Reports Second-Quarter 2023 Results
- SECOND AMENDMENT TO THE MARATHON PETROLEUM THRIFT PLAN
- POWER OF ATTORNEY
- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM T-1 STATEMENT OF ELIGIBILITY UNDER THE TRUST INDENTURE ACT OF 1939 OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTE
- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM T-1 STATEMENT OF ELIGIBILITY UNDER THE TRUST INDENTURE ACT OF 1939 OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTE
This story originally appeared on Fintel.
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