Marathon Petroleum Corp [MPC] Stock trading around $178.97 per share: What’s Next?

Marathon Petroleum Corp [NYSE: MPC] stock went on an upward path that rose over 2.16% on Thursday, amounting to a one-week price increase of more than 5.76%. The company report on February 29, 2024 at 10:10 AM that Marathon Petroleum Trucks and Trains Transition to Using Renewable Diesel in La Basin.

Marathon Petroleum Corporation:

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Marathon Petroleum’s Vinvale and East Hynes fleets in California’s Los Angeles Basin have made a significant step toward reducing their carbon footprint and contributing to a cleaner future by transitioning both fleets entirely to renewable diesel. In 2023, two Marathon Petroleum Transport and Rail (T&R) fleets and two locomotives at the Marathon Petroleum Los Angeles refinery, which are supported by T&R, switched from using traditional diesel fuel to renewable diesel.

Over the last 12 months, MPC stock rose by 37.45%. The one-year Marathon Petroleum Corp stock forecast points to a potential downside of -2.41. The average equity rating for MPC stock is currently 1.79, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $64.67 billion, with 368.00 million shares outstanding and 360.57 million shares in the current float. Compared to the average trading volume of 2.99M shares, MPC stock reached a trading volume of 2685015 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Marathon Petroleum Corp [MPC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MPC shares is $174.76 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MPC stock is a recommendation set at 1.79. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

TD Cowen have made an estimate for Marathon Petroleum Corp shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 31, 2024. While these analysts kept the previous recommendation, Citigroup raised their target price to Neutral. The new note on the price target was released on January 24, 2024, representing the official price target for Marathon Petroleum Corp stock. Previously, the target price had yet another raise from $159 to $169, while Wells Fargo kept a Overweight rating on MPC stock. On August 16, 2023, analysts increased their price target for MPC shares from 148 to 161.

The Average True Range (ATR) for Marathon Petroleum Corp is set at 4.40, with the Price to Sales ratio for MPC stock in the period of the last 12 months amounting to 0.44. The Price to Book ratio for the last quarter was 2.70, with the Price to Cash per share for the same quarter was set at 28.29. Price to Free Cash Flow for MPC in the course of the last twelve months was 5.29 with Quick ratio for the last quarter at 1.13.

MPC Stock Performance Analysis:

Marathon Petroleum Corp [MPC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.76. With this latest performance, MPC shares gained by 7.40% in over the last four-week period, additionally plugging by 21.02% over the last 6 months – not to mention a rise of 37.45% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MPC stock in for the last two-week period is set at 67.89, with the RSI for the last a single of trading hit 72.45, and the three-weeks RSI is set at 65.21 for Marathon Petroleum Corp [MPC]. The present Moving Average for the last 50 days of trading for this stock 162.64, while it was recorded at 175.26 for the last single week of trading, and 143.96 for the last 200 days.

Insight into Marathon Petroleum Corp Fundamentals:

Marathon Petroleum Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.13 and a Current Ratio set at 1.59.

MPC Stock EPS

With the latest financial reports released by the company, Marathon Petroleum Corp posted 6.09/share EPS, while the average EPS was predicted by analysts to be reported at 5.74/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 6.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MPC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Marathon Petroleum Corp go to -9.85%.

Marathon Petroleum Corp [MPC] Institutonal Ownership Details

The top three institutional holders of MPC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in MPC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in MPC stock with ownership which is approximately 5.8325%.