Meeder Asset Management Inc. boosted its holdings in Marathon Petroleum Corp (NYSE:MPC) by 39.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 127,352 shares of the oil and gas company’s stock after purchasing an additional 36,175 shares during the quarter. Meeder Asset Management Inc.’s holdings in Marathon Petroleum were worth $7,621,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Reliance Trust Co. of Delaware boosted its holdings in Marathon Petroleum by 2.4% in the fourth quarter. Reliance Trust Co. of Delaware now owns 6,595 shares of the oil and gas company’s stock valued at $389,000 after purchasing an additional 157 shares in the last quarter. Alpha Cubed Investments LLC lifted its stake in Marathon Petroleum by 1.7% in the fourth quarter. Alpha Cubed Investments LLC now owns 9,810 shares of the oil and gas company’s stock valued at $579,000 after buying an additional 162 shares during the last quarter. FTB Advisors Inc. lifted its stake in Marathon Petroleum by 5.5% in the fourth quarter. FTB Advisors Inc. now owns 3,174 shares of the oil and gas company’s stock valued at $187,000 after buying an additional 165 shares during the last quarter. Accurate Investment Solutions Inc. lifted its stake in Marathon Petroleum by 4.1% in the first quarter. Accurate Investment Solutions Inc. now owns 4,370 shares of the oil and gas company’s stock valued at $262,000 after buying an additional 173 shares during the last quarter. Finally, Stillwater Investment Management LLC lifted its stake in Marathon Petroleum by 0.5% in the fourth quarter. Stillwater Investment Management LLC now owns 33,501 shares of the oil and gas company’s stock valued at $1,977,000 after buying an additional 180 shares during the last quarter. 79.25% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Gary R. Heminger sold 187,142 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $65.00, for a total transaction of $12,164,230.00. Following the completion of the sale, the chief executive officer now owns 434,166 shares in the company, valued at $28,220,790. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.06% of the stock is owned by corporate insiders.
Marathon Petroleum stock opened at $60.02 on Wednesday. Marathon Petroleum Corp has a 12 month low of $54.29 and a 12 month high of $88.45. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.36 and a quick ratio of 0.62. The company has a market cap of $40.78 billion, a PE ratio of 8.85, a P/E/G ratio of 1.28 and a beta of 1.37.
Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Thursday, February 7th. The oil and gas company reported $2.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.43. Marathon Petroleum had a return on equity of 14.14% and a net margin of 2.86%. The business had revenue of $32.54 billion during the quarter, compared to analysts’ expectations of $34.16 billion. During the same quarter in the prior year, the business earned $1.05 earnings per share. The company’s quarterly revenue was up 53.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Marathon Petroleum Corp will post 5.62 EPS for the current fiscal year.
MPC has been the subject of a number of research reports. Standpoint Research initiated coverage on Marathon Petroleum in a research note on Wednesday, December 26th. They issued an “accumulate” rating for the company. Citigroup reduced their price objective on Marathon Petroleum from $91.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, March 4th. ValuEngine upgraded Marathon Petroleum from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Macquarie initiated coverage on Marathon Petroleum in a research note on Tuesday, February 5th. They issued an “outperform” rating and a $67.18 price objective for the company. Finally, Piper Jaffray Companies reiterated an “overweight” rating on shares of Marathon Petroleum in a research note on Thursday, January 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $91.24.
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Marathon Petroleum Company Profile
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, Retail, and Midstream. The Refining & Marketing segment refines crude oil and other feed stocks at its 16 refineries in the West Coast, Gulf Coast, and Mid-Continent regions of the United States; and purchases refined products and ethanol for resale.
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