Market Overview

UPDATE: Oppenheimer Raises PT on Marathon Petroleum to $55


Oppenheimer has published a research report on Marathon Petroleum (NYSE: MPC) and has raised the price target from $42 to $55 to reflect the company's $2 billion share buyback program announced last week.

In the report, Oppenheimer writes, "MPC is also evaluating an MLP for its Midstream assets, which could further boost its valuation. The completion of the Detroit heavy oil project this year should reduce future spending in its refining segment and boost its free cash flow. This strong free cash flow generation, low debt ratio, and the large cash balance of $3 billion, or $8.40/share, give MPC the financial flexibility to fund its CAPEX, grow its dividend, buyback shares, make strategic acquisitions and still maintain its investment grade rating, in our view. We have adjusted our estimates for updated guidance."

Oppenheimer maintains its Outperform rating on Marathon Petroleum, which is currently trading up $1.00 from Friday's $43.98 closing price.

Posted-In: OppenheimerAnalyst Color News Price Target Buybacks Analyst Ratings


Related Articles (MPC)

View Comments and Join the Discussion!

Latest Ratings

PNRJefferiesInitiates Coverage On
IPHIBank of AmericaMaintains80.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

Investor Ideas' Biotech Stock to Watch: Complete Genomics Trades up over 15%

The 10 Best ETF Tickers