Marathon Petroleum (MPC – Research Report), the Energy sector company, was revisited by a Wall Street analyst yesterday. Analyst Lloyd Byrne from Jefferies maintained a Buy rating on the stock and has a $178.00 price target.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Lloyd Byrne’s rating is based on Marathon Petroleum’s strong performance in the refining and midstream sectors, which exceeded expectations. The company demonstrated higher utilization rates and better margin capture, contributing to a significant beat in their Refining and Marketing EBITDA compared to consensus estimates. Additionally, Marathon Petroleum’s ongoing commitment to shareholder returns, as evidenced by substantial share buybacks, further supports the Buy rating.
Marathon Petroleum’s future growth prospects also play a crucial role in the positive rating. The announcement of new midstream projects aimed at expanding the Permian to Gulf Coast integrated value chain highlights the company’s strategic initiatives. These expansions are expected to drive EBITDA growth, coupled with plans for considerable capital investments in the coming years. The financial outlook, including continued investment in MPLX and enhanced capital allocation flexibility, reinforces the company’s robust position in the market.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $170.00 price target.
Based on the recent corporate insider activity of 81 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.