Prudential PLC Decreases Position in Marathon Petroleum Corporation (MPC)

Prudential PLC reduced its stake in Marathon Petroleum Corporation (NYSE:MPC) by 6.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,802 shares of the oil and gas company’s stock after selling 600 shares during the period. Prudential PLC’s holdings in Marathon Petroleum Corporation were worth $461,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. OMERS ADMINISTRATION Corp raised its stake in Marathon Petroleum Corporation by 341.7% in the second quarter. OMERS ADMINISTRATION Corp now owns 53,000 shares of the oil and gas company’s stock worth $2,773,000 after buying an additional 41,000 shares in the last quarter. Wilen Investment Management CORP. raised its stake in Marathon Petroleum Corporation by 31.3% in the second quarter. Wilen Investment Management CORP. now owns 38,148 shares of the oil and gas company’s stock worth $1,984,000 after buying an additional 9,100 shares in the last quarter. Commonwealth Bank of Australia raised its stake in Marathon Petroleum Corporation by 1.8% in the second quarter. Commonwealth Bank of Australia now owns 174,826 shares of the oil and gas company’s stock worth $9,147,000 after buying an additional 3,097 shares in the last quarter. Fox Run Management L.L.C. raised its stake in Marathon Petroleum Corporation by 143.6% in the second quarter. Fox Run Management L.L.C. now owns 26,800 shares of the oil and gas company’s stock worth $1,402,000 after buying an additional 15,800 shares in the last quarter. Finally, Heritage Way Advisors LLC raised its stake in Marathon Petroleum Corporation by 2.4% in the second quarter. Heritage Way Advisors LLC now owns 36,975 shares of the oil and gas company’s stock worth $1,935,000 after buying an additional 850 shares in the last quarter. 78.25% of the stock is owned by institutional investors.

In related news, VP C. Michael Palmer sold 11,450 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $53.02, for a total transaction of $607,079.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.05% of the company’s stock.

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Marathon Petroleum Corporation (NYSE MPC) opened at 56.55 on Friday. The company has a market cap of $28.63 billion, a P/E ratio of 33.72 and a beta of 1.56. Marathon Petroleum Corporation has a 52 week low of $40.01 and a 52 week high of $57.02. The firm’s 50 day moving average is $54.20 and its 200-day moving average is $52.77.

Marathon Petroleum Corporation (NYSE:MPC) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.01). The firm had revenue of $18.35 billion for the quarter, compared to the consensus estimate of $19.98 billion. Marathon Petroleum Corporation had a return on equity of 5.52% and a net margin of 1.34%. The company’s revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.07 EPS. On average, analysts predict that Marathon Petroleum Corporation will post $3.06 earnings per share for the current fiscal year.

A number of research firms recently issued reports on MPC. Goldman Sachs Group, Inc. (The) downgraded shares of Marathon Petroleum Corporation from a “buy” rating to a “neutral” rating and set a $63.00 price target for the company. in a research note on Tuesday, October 3rd. They noted that the move was a valuation call. Zacks Investment Research raised shares of Marathon Petroleum Corporation from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. BidaskClub raised shares of Marathon Petroleum Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 1st. Barclays PLC increased their price target on shares of Marathon Petroleum Corporation from $62.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $54.83 price target (down from $65.00) on shares of Marathon Petroleum Corporation in a research note on Thursday, July 20th. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $60.33.

About Marathon Petroleum Corporation

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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Institutional Ownership by Quarter for Marathon Petroleum Corporation (NYSE:MPC)

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