Bank of America Cuts Marathon Petroleum to Neutral (MPC)

By admin | 6 years ago

Marathon Petroleum (NYSE: MPC) was downgraded by investment analysts at Bank of America (NYSE: BAC) from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday.

Shares of Marathon Petroleum traded down 2.00% during mid-day trading on Thursday, hitting $37.4375. Marathon Petroleum has a one year low of $26.35 and a one year high of $47.43. The company has a market cap of $13.014 billion and a P/E ratio of 5.54.

Marathon Petroleum last issued its quarterly earnings data on Tuesday, May 1st. The company reported $1.70 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.29 by $0.41. Marathon Petroleum’s revenue was up 13.5% compared to the same quarter last year. On average, analysts predict that Marathon Petroleum will post $1.76 earnings per share next quarter.

Several other analysts have also recently commented on the stock. Analysts at Dahlman Rose initiated coverage on shares of Marathon Petroleum in a research note to investors on Thursday, April 26th. They set a “buy” rating and a $55.00 price target on the stock. Separately, analysts at Deutsche Bank (NYSE: DB) downgraded shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research note to investors on Monday, April 16th. Finally, analysts at Zacks upgraded shares of Marathon Petroleum from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, April 10th. They now have a $51.00 price target on the stock.

Marathon Petroleum Corporation (Marathon Petroleum) is a petroleum product refiners, transporters and marketers in the United States.

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