After RBC Capital and Morgan Stanley gave Marathon Petroleum (NYSE: MPC) a Buy rating last month, the company received another Buy, this time from Citigroup. Analyst Prashant Rao maintained a Buy rating on Marathon Petroleum today and set a price target of $67.00. The company’s shares closed last Monday at $56.84.
According to TipRanks.com, Rao is a 2-star analyst with an average return of 2.5% and a 44.0% success rate. Rao covers the Basic Materials sector, focusing on stocks such as Valero Energy, Phillips 66, and CVR Energy.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Marathon Petroleum with a $78.00 average price target, representing a 35.6% upside. In a report issued on January 14, Morgan Stanley also maintained a Buy rating on the stock with a $75.00 price target.
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Based on Marathon Petroleum’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $30.89 billion and net profit of $1.1 billion. In comparison, last year the company earned revenue of $32.19 billion and had a net profit of $951 million.
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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; Retail; and Midstream.
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