Goldman Sachs analyst Neil Mehta has maintained their bullish stance on MPC stock, giving a Buy rating on February 5.
Geoff Meacham has given his Buy rating due to a combination of factors that point towards Marathon Petroleum Corp. (MPC) presenting a strong investment case. Meacham’s positive outlook is based on the company’s ability to consistently deliver robust earnings over the past ten-plus quarters. In addition, the diversification provided by MPLX and the company’s exceptional track record of shareholder returns—exceeding Goldman Sachs’ own model predictions—bolster the rationale for the Buy rating.
Further reinforcing this stance, Meacham highlights MPC’s attractive capital returns yield, which is projected to be approximately 18% for 2024 and 14% for 2025, surpassing previous estimates. The report also delves into key debates, such as Marathon Petroleum’s refining outlook for 2024, its capital allocation strategy, and updates within the Renewable Fuels complex—elements that suggest a promising future for the company and underpin the decision to maintain a Buy rating.
In another report released on February 5, Barclays also maintained a Buy rating on the stock with a $168.00 price target.
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Marathon Petroleum (MPC) Company Description:
Founded in 1887, Ohio-based Marathon Petroleum Corp. is a petroleum refining company, which is engaged in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Retail, and Midstream.
Read More on MPC:
- Teamsters authorize strike at Marathon Petroleum refinery, WSJ reports
- Marathon Petroleum price target raised to $168 from $163 at Barclays
- Marathon Petroleum Welcomes Two New Board Members
- Marathon Petroleum price target raised to $170 from $168 at TD Cowen
- Marathon Petroleum price target raised to $183 from $169 at Wells Fargo
