Institutional investors are heavily drawn to Marathon Petroleum Corporation (MPC), holding 76% of the company. An intrinsic calculation suggests to it being 47% undervalued. Investors are excited as the company's share price increased by 4.1% despite a market dip. The company is also seeing new investments from firms such as Sanctuary Advisors LLC and Granite Bay Wealth Management LLC. JPMorgan Chase & Co. and BMO Capital Markets lowered the price target for MPC to $172.00 and $190.00, respectively. Despite a decline in the stock, the strong fundamentals suggest a potential turnaround. MPC recently reported a strong Q2, beating earnings and revenue estimates, with profit outpacing weak margins due to increased volumes. However, the company's stake in the Prairie Horizon Hydrogen Project was withdrawn. Ongoing strikes have led to a standstill in negotiations with Teamsters and caused a minor impact on the Detroit refinery. Insiders have recently sold shares valued at US$1.6m, signaling potential bearishness. Yet, MPC's strong fundamentals, high institutional ownership, and new CEO could represent potential upside. The company rates as a 'moderate buy' according to analysts, although rumored Neste purchase has been denied by the CEO.
Marathon Petroleum Corporation MPC News Analytics from Wed, 28 Feb 2024 08:00:00 GMT to Fri, 04 Oct 2024 19:41:43 GMT -
Rating 5
- Innovation -3
- Information 8
- Rumor -2
