Hennessy Advisors Inc. reduced its position in Marathon Petroleum Corp (NYSE:MPC) by 4.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 76,200 shares of the oil and gas company’s stock after selling 3,600 shares during the period. Hennessy Advisors Inc.’s holdings in Marathon Petroleum were worth $4,591,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of the stock. Fulcrum Capital LLC acquired a new stake in Marathon Petroleum in the third quarter valued at approximately $6,313,000. Venturi Wealth Management LLC acquired a new stake in Marathon Petroleum in the third quarter valued at approximately $25,000. Mechanics Bank Trust Department acquired a new stake in Marathon Petroleum in the third quarter valued at approximately $29,000. Old North State Trust LLC boosted its position in Marathon Petroleum by 209.1% in the third quarter. Old North State Trust LLC now owns 476 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 322 shares in the last quarter. Finally, Simon Quick Advisors LLC acquired a new stake in Marathon Petroleum in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 76.09% of the company’s stock.
A number of brokerages have weighed in on MPC. JPMorgan Chase & Co. lowered shares of Marathon Petroleum from an “overweight” rating to a “neutral” rating and set a $67.00 target price on the stock. in a research report on Monday, December 9th. Zacks Investment Research upgraded shares of Marathon Petroleum from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a report on Monday, December 16th. Mizuho set a $90.00 price target on shares of Marathon Petroleum and gave the stock a “buy” rating in a report on Thursday, September 26th. Citigroup lifted their price target on shares of Marathon Petroleum from $60.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Co lifted their price target on shares of Marathon Petroleum from $75.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $72.93.
MPC stock opened at $59.84 on Wednesday. The firm has a market cap of $39.10 billion, a price-to-earnings ratio of 8.83, a PEG ratio of 0.72 and a beta of 1.66. The company has a quick ratio of 0.62, a current ratio of 1.25 and a debt-to-equity ratio of 0.71. Marathon Petroleum Corp has a 12-month low of $43.96 and a 12-month high of $69.65. The company’s fifty day simple moving average is $60.04 and its 200 day simple moving average is $57.77.
Marathon Petroleum (NYSE:MPC) last released its earnings results on Thursday, October 31st. The oil and gas company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.33. The business had revenue of $31.20 billion for the quarter, compared to analyst estimates of $32.89 billion. Marathon Petroleum had a net margin of 2.50% and a return on equity of 8.94%. Marathon Petroleum’s revenue for the quarter was up 34.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.70 earnings per share. Research analysts expect that Marathon Petroleum Corp will post 4.28 earnings per share for the current year.
Marathon Petroleum Company Profile
Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.
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