RBC Capital Believes Marathon Petro (NYSE: MPC) Still Has Room to Grow

By Austin Angelo

In a report released today, Brad Heffern from RBC Capital reiterated a Buy rating on Marathon Petro (NYSE: MPC), with a price target of $69. The company’s shares opened today at $52.43, close to its 52-week high of $54.59.

According to TipRanks.com, Heffern is a 4-star analyst with an average return of 8.0% and a 60.0% success rate. Heffern covers the Basic Materials sector, focusing on stocks such as Calumet Specialty Products, Gulfport Energy Corp, and Hollyfrontier Corp.

Currently, the analyst consensus on Marathon Petro is Strong Buy and the average price target is $62.67, representing a 19.5% upside.

In a report issued on May 25, Piper Jaffray also initiated coverage with a Buy rating on the stock with a $62 price target.

The company has a one year high of $54.59 and a one year low of $32.02. Currently, Marathon Petro has an average volume of 4.41M.

Based on the recent corporate insider activity of 86 insiders, corporate insider sentiment is negative on the stock. Last month, Michael C. Palmer, the Sr. VP, Supply Distrib. & Plan of MPC sold 4,000 shares for a total of $213,000.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through three segments: Refining & Marketing, Speedway 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 Speedway segment sells transportation fuels and convenience products in the retail market in the Midwest, primarily through Speedway convenience stores. The Midstream segment gathers, processes and transports natural gas; gathers, transports, fractionates, stores and markets NGLs and transports and stores crude oil and refined products. Marathon Petroleum was founded on June 30, 2011 and is headquartered in Findlay, OH.