Benzinga | Aug 12, 2020 11:02AM EDT

Why Marathon Petroleum's Stock Is Trading Higher Today

Marathon Petroleum (NYSE:MPC) shares are trading higher on Wednesday after Cowen & Co. upgraded the company's stock from Market Perform to Outperform and raised its price target from $37 to $43.

Marathon Petroleum is an independent refiner with 16 refineries in the midcontinent, West Coast, and Gulf Coast of the United States with total throughput capacity of 3.0 million barrels per day. Its retail segment sells transportation fuels through 5,000 stores. The firm also owns and operates midstream assets primarily through its listed MLP, MPLX.

Marathon Petroleum shares were trading up 2.71% at $37.95 at time of publication on Wednesday. The stock has a 52-week high of $69.65 and a 52-week low of $15.26.