Cornerstone Financial Partners LLC lessened its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,699 shares of the oil and gas company’s stock after selling 2,184 shares during the period. Marathon Petroleum makes up about 1.2% of Cornerstone Financial Partners LLC’s investment portfolio, making the stock its 26th largest holding. Cornerstone Financial Partners LLC’s holdings in Marathon Petroleum were worth $3,741,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of MPC. Third Point LLC purchased a new stake in Marathon Petroleum during the 3rd quarter valued at $154,220,000. Prudential Financial Inc. boosted its stake in Marathon Petroleum by 61.6% during the 3rd quarter. Prudential Financial Inc. now owns 3,987,706 shares of the oil and gas company’s stock valued at $223,630,000 after purchasing an additional 1,520,471 shares during the last quarter. Mason Capital Management LLC boosted its stake in Marathon Petroleum by 66.2% during the 2nd quarter. Mason Capital Management LLC now owns 1,702,000 shares of the oil and gas company’s stock valued at $89,066,000 after purchasing an additional 678,000 shares during the last quarter. Vaughan David Investments Inc. IL boosted its stake in Marathon Petroleum by 12,827.2% during the 3rd quarter. Vaughan David Investments Inc. IL now owns 607,579 shares of the oil and gas company’s stock valued at $9,405,000 after purchasing an additional 602,879 shares during the last quarter. Finally, Rothschild Asset Management Inc. purchased a new stake in Marathon Petroleum during the 3rd quarter valued at $33,070,000. Institutional investors and hedge funds own 80.72% of the company’s stock.
Several analysts have commented on MPC shares. Zacks Investment Research upgraded Marathon Petroleum from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research note on Monday, October 16th. Edward Jones upgraded Marathon Petroleum from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. Cowen reiterated a “buy” rating on shares of Marathon Petroleum in a research note on Tuesday, November 14th. Citigroup raised their price target on Marathon Petroleum from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Finally, Scotiabank restated a “hold” rating and issued a $75.00 price target on shares of Marathon Petroleum in a research note on Wednesday, January 10th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $70.33.
Marathon Petroleum Corp (MPC) traded up $0.40 during mid-day trading on Monday, hitting $71.89. The stock had a trading volume of 3,894,300 shares, compared to its average volume of 3,384,577. The stock has a market cap of $35,660.00, a P/E ratio of 22.47, a P/E/G ratio of 1.48 and a beta of 1.62. Marathon Petroleum Corp has a 52-week low of $46.88 and a 52-week high of $72.52. The company has a current ratio of 1.52, a quick ratio of 0.80 and a debt-to-equity ratio of 0.64.
Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.48 by $0.29. The firm had revenue of $19.36 billion for 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 company’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period last year, the business posted $0.58 EPS. sell-side analysts expect that Marathon Petroleum Corp will post 3.76 earnings per share for the current year.
In related news, insider Anthony R. Kenney sold 77,578 shares of Marathon Petroleum stock in a transaction on Monday, November 6th. The stock was sold at an average price of $62.35, for a total transaction of $4,836,988.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Rodney P. Nichols sold 6,374 shares of Marathon Petroleum stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $64.93, for a total value of $413,863.82. Following the transaction, the vice president now owns 74,674 shares in the company, valued at $4,848,582.82. The disclosure for this sale can be found here. Insiders have sold 149,854 shares of company stock worth $9,482,177 over the last quarter. 1.05% of the stock is owned by company insiders.
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About Marathon Petroleum
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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