CMH Wealth Management LLC purchased a new stake in Marathon Petroleum Corp (NYSE:MPC) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 29,315 shares of the oil and gas company’s stock, valued at approximately $1,755,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. lifted its stake in Marathon Petroleum by 36.6% in the fourth quarter. BlackRock Inc. now owns 54,581,132 shares of the oil and gas company’s stock valued at $3,220,832,000 after buying an additional 14,619,755 shares in the last quarter. Vanguard Group Inc. lifted its stake in Marathon Petroleum by 0.7% in the third quarter. Vanguard Group Inc. now owns 35,373,004 shares of the oil and gas company’s stock valued at $2,828,779,000 after buying an additional 255,599 shares in the last quarter. Vanguard Group Inc raised its holdings in shares of Marathon Petroleum by 0.7% in the third quarter. Vanguard Group Inc now owns 35,373,004 shares of the oil and gas company’s stock valued at $2,828,779,000 after purchasing an additional 255,599 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Marathon Petroleum by 9,095.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,042,197 shares of the oil and gas company’s stock valued at $238,000 after purchasing an additional 13,889,489 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Marathon Petroleum by 42.6% in the fourth quarter. Bank of New York Mellon Corp now owns 12,418,710 shares of the oil and gas company’s stock valued at $732,828,000 after purchasing an additional 3,708,740 shares during the last quarter. 79.24% of the stock is currently owned by hedge funds and other institutional investors.
In other Marathon Petroleum news, CEO Gary R. Heminger sold 187,142 shares of the company’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $65.00, for a total value of $12,164,230.00. Following the transaction, the chief executive officer now directly owns 434,166 shares in the company, valued at $28,220,790. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.06% of the stock is owned by insiders.
A number of analysts have recently issued reports on the stock. Morgan Stanley lowered their price objective on shares of Marathon Petroleum from $85.00 to $82.00 and set an “overweight” rating on the stock in a report on Monday. Raymond James lowered their price objective on shares of Marathon Petroleum from $90.00 to $85.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 10th. Macquarie assumed coverage on shares of Marathon Petroleum in a report on Tuesday, February 5th. They issued an “outperform” rating and a $67.18 price objective on the stock. ValuEngine downgraded shares of Marathon Petroleum from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. Finally, Piper Jaffray Companies reiterated an “overweight” rating on shares of Marathon Petroleum in a report on Thursday, January 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Marathon Petroleum presently has an average rating of “Buy” and an average price target of $91.24.
MPC traded down $0.74 during trading on Monday, reaching $60.85. 4,195,335 shares of the stock were exchanged, compared to its average volume of 6,554,041. The company has a market cap of $41.10 billion, a price-to-earnings ratio of 8.97, a PEG ratio of 1.36 and a beta of 1.37. Marathon Petroleum Corp has a twelve month low of $54.29 and a twelve month high of $88.45. The company has a current ratio of 1.36, a quick ratio of 0.62 and a debt-to-equity ratio of 0.61.
Marathon Petroleum (NYSE:MPC) last issued its earnings results on Thursday, February 7th. The oil and gas company reported $2.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.98 by $0.43. Marathon Petroleum had a net margin of 2.86% and a return on equity of 14.14%. The business had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $34.16 billion. During the same period in the previous year, the company earned $1.05 earnings per share. The firm’s revenue for the quarter was up 53.2% on a year-over-year basis. As a group, research analysts forecast that Marathon Petroleum Corp will post 5.54 earnings per share for the current year.
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About Marathon Petroleum
Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.
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