First Manhattan Co. boosted its holdings in Marathon Petroleum Corp (NYSE:MPC) by 6.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,667 shares of the oil and gas company’s stock after buying an additional 1,193 shares during the period. First Manhattan Co.’s holdings in Marathon Petroleum were worth $1,117,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. lifted its holdings 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 during the period. Vanguard Group Inc. raised its holdings 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 worth $2,828,779,000 after purchasing an additional 255,599 shares during the period. Vanguard Group Inc raised its holdings 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 worth $2,828,779,000 after purchasing an additional 255,599 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in 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 worth $238,000 after purchasing an additional 13,889,489 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in 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 worth $732,828,000 after purchasing an additional 3,708,740 shares during the period. Institutional investors and hedge funds own 79.25% of the company’s stock.
MPC has been the topic of several analyst reports. Raymond James cut their target price 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 initiated coverage on shares of Marathon Petroleum in a report on Tuesday, February 5th. They issued an “outperform” rating and a $67.18 target price on the stock. Piper Jaffray Companies reiterated an “overweight” rating on shares of Marathon Petroleum in a report on Thursday, January 10th. ValuEngine upgraded shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, Citigroup cut their target price on shares of Marathon Petroleum from $91.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $91.24.
In other news, CEO Gary R. Heminger sold 187,142 shares of the stock in a transaction on Friday, February 22nd. The shares were 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 of the company’s stock, valued at $28,220,790. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.06% of the stock is owned by corporate insiders.
Shares of MPC stock opened at $60.02 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 1.36 and a debt-to-equity ratio of 0.61. Marathon Petroleum Corp has a 12-month low of $54.29 and a 12-month high of $88.45. The firm 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 issued its quarterly earnings data on Thursday, February 7th. The oil and gas company reported $2.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $34.16 billion. During the same quarter in the prior year, the firm earned $1.05 earnings per share. The firm’s revenue was up 53.2% compared to the same quarter last year. On average, research analysts anticipate that Marathon Petroleum Corp will post 5.62 EPS for the current fiscal year.
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, 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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