Convergence Investment Partners LLC grew its holdings in shares of Marathon Petroleum Corp (NYSE:MPC) by 76.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 88,415 shares of the oil and gas company’s stock after purchasing an additional 38,433 shares during the quarter. Marathon Petroleum makes up about 0.8% of Convergence Investment Partners LLC’s portfolio, making the stock its 20th biggest holding. Convergence Investment Partners LLC’s holdings in Marathon Petroleum were worth $5,834,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Atria Investments LLC boosted its position in shares of Marathon Petroleum by 127.7% during the 4th quarter. Atria Investments LLC now owns 11,492 shares of the oil and gas company’s stock valued at $758,000 after acquiring an additional 6,445 shares during the last quarter. Chelsea Counsel Co. acquired a new position in shares of Marathon Petroleum during the 4th quarter valued at about $220,000. CHURCHILL MANAGEMENT Corp acquired a new position in shares of Marathon Petroleum during the 4th quarter valued at about $19,683,000. Acropolis Investment Management LLC boosted its position in shares of Marathon Petroleum by 103.8% during the 4th quarter. Acropolis Investment Management LLC now owns 29,120 shares of the oil and gas company’s stock valued at $1,921,000 after acquiring an additional 14,833 shares during the last quarter. Finally, Leavell Investment Management Inc. boosted its position in shares of Marathon Petroleum by 41.7% during the 4th quarter. Leavell Investment Management Inc. now owns 23,800 shares of the oil and gas company’s stock valued at $1,570,000 after acquiring an additional 7,000 shares during the last quarter. 80.61% of the stock is currently owned by institutional investors.
A number of research analysts have commented on MPC shares. Zacks Investment Research raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Monday, October 16th. Edward Jones raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. Cowen reaffirmed a “buy” rating on shares of Marathon Petroleum in a research report on Tuesday, November 14th. Citigroup upped their target price on shares of Marathon Petroleum from $67.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, October 18th. Finally, Scotiabank reaffirmed a “hold” rating and issued a $75.00 target price on shares of Marathon Petroleum in a research report on Wednesday, January 10th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. Marathon Petroleum has a consensus rating of “Buy” and an average target price of $70.33.
In other news, VP Rodney P. Nichols sold 6,374 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $64.93, for a total value of $413,863.82. Following the completion of the sale, the vice president now directly owns 74,674 shares of the company’s stock, valued at $4,848,582.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anthony R. Kenney sold 77,578 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $62.35, for a total value of $4,836,988.30. The disclosure for this sale can be found here. Insiders sold 149,854 shares of company stock valued at $9,482,177 over the last ninety days. 1.05% of the stock is currently owned by corporate insiders.
Shares of Marathon Petroleum Corp (NYSE:MPC) traded down $0.11 on Tuesday, reaching $71.31. The company had a trading volume of 1,531,665 shares, compared to its average volume of 3,178,178. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.52 and a quick ratio of 0.80. The firm has a market capitalization of $34,790.00, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 1.60 and a beta of 1.62. Marathon Petroleum Corp has a 52-week low of $46.88 and a 52-week high of $71.50.
Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.29. The firm had revenue of $19.36 billion during the quarter, compared to the consensus estimate of $19.38 billion. Marathon Petroleum had a return on equity of 8.52% and a net margin of 2.35%. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.58 earnings per share. equities research analysts predict that Marathon Petroleum Corp will post 3.8 EPS for the current fiscal year.
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Marathon Petroleum Profile
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.
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