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Wells Fargo Reaffirms Their Buy Rating on Marathon Petroleum (MPC)

Tipranks - Tipranks - Tue Jun 16, 5:16AM CDT

Wells Fargo analyst Sam Margolin reiterated a Buy rating on Marathon Petroleum on June 12 and set a price target of $344.00. The company’s shares closed last Friday at $263.58.

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Margolin covers the Energy sector, focusing on stocks such as BP, Marathon Petroleum, and Chevron. According to TipRanks, Margolin has an average return of 12.9% and a 68.66% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Marathon Petroleum with a $269.07 average price target, representing a 2.08% upside. In a report released on June 12, Morgan Stanley also assigned a Buy rating to the stock with a $265.00 price target.

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Based on Marathon Petroleum’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $34.57 billion and a net profit of $511 million. In comparison, last year the company earned a revenue of $31.52 billion and had a GAAP net loss of $74 million

Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MPC in relation to earlier this year. Earlier this month, Michael A II Henschen, the Ex VP, Refining of MPC sold 6,336.00 shares for a total of $1,703,246.76.

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