RBC Capital Believes Marathon Petroleum (NYSE: MPC) Won’t Stop Here

In a report issued on February 22, T J Schultz from RBC Capital maintained a Buy rating on Marathon Petroleum (MPCResearch Report), with a price target of $58.00. The company’s shares closed last Tuesday at $55.77, close to its 52-week high of $57.01.

According to TipRanks.com, Schultz is a 5-star analyst with an average return of 15.5% and a 65.3% success rate. Schultz covers the Industrial Goods sector, focusing on stocks such as Enterprise Products Partners, Equitrans Midstream, and NGL Energy Partners.

Currently, the analyst consensus on Marathon Petroleum is a Moderate Buy with an average price target of $55.33, which is a 0.5% upside from current levels. In a report issued on February 22, J.P. Morgan also upgraded the stock to Buy with a $67.00 price target.

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Based on Marathon Petroleum’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $17.97 billion and net profit of $192 million. In comparison, last year the company earned revenue of $40.81 billion and had a net profit of $443 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. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates. The Retail sells transportation fuels and convenience products in the retail market across the United States through company-owned and operated convenience stores, primarily under the Speedway brand, and long-term fuel supply contracts with direct dealers who operate locations mainly under the ARCO brand. The Midstream transports, stores, distributes and markets crude oil and refined products principally for the Refining & Marketing segment via refining logistics assets, pipelines, terminals, towboats and barges; gathers, processes and transports natural gas; and gathers, transports, fractionates, stores and markets NGLs. Marathon Petroleum was founded in 1887 and is headquartered in Findlay, OH.