Barclays analyst Paul Cheng maintained a Buy rating on Marathon Petroleum Corporation (MPC) yesterday and set a price target of $124. The company’s shares closed yesterday at $63.63.
According to TipRanks.com, Cheng is a 4-star analyst with an average return of 2.8% and a 47.9% success rate. Cheng covers the Basic Materials sector, focusing on stocks such as Petroleo Brasileiro SA- Petrobras, Imperial Oil Limited, and Occidental Petroleum.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Marathon Petroleum Corporation with a $92.38 average price target, implying a 45.2% upside from current levels. In a report issued on December 26, Standpoint Research also initiated coverage with a Buy rating on the stock.
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Based on Marathon Petroleum Corporation’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $22.91 billion and net profit of $737 million. In comparison, last year the company earned revenue of $19.15 billion and had a net profit of $2.01 billion.
Based on the recent corporate insider activity of 90 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MPC in relation to earlier this year.
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Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing, Speedway and Midstream.
