Meeder Asset Management Inc. lifted its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 39.7% during the first quarter, Holdings Channel reports. The fund 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 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Hanson McClain Inc. acquired a new stake in shares of Marathon Petroleum during the fourth quarter valued at $25,000. Certified Advisory Corp boosted its stake in shares of Marathon Petroleum by 71.2% during the fourth quarter. Certified Advisory Corp now owns 476 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 198 shares during the last quarter. Kistler Tiffany Companies LLC acquired a new stake in shares of Marathon Petroleum during the fourth quarter valued at $30,000. SeaBridge Investment Advisors LLC acquired a new stake in shares of Marathon Petroleum during the fourth quarter valued at $30,000. Finally, Berman Capital Advisors LLC acquired a new stake in shares of Marathon Petroleum during the fourth quarter valued at $30,000. 79.25% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Gary R. Heminger sold 187,142 shares of the stock in a transaction dated 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 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.06% of the company’s stock.
A number of research firms recently commented on MPC. Raymond James decreased their price objective on Marathon Petroleum from $90.00 to $85.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, April 10th. Morgan Stanley decreased their price objective on Marathon Petroleum from $85.00 to $82.00 and set an “overweight” rating on the stock in a research note on Monday. Macquarie began coverage on Marathon Petroleum in a research note on Tuesday, February 5th. They set an “outperform” rating and a $67.18 price objective on the stock. ValuEngine lowered Marathon Petroleum from a “hold” rating to a “sell” rating in a research note on Tuesday, March 5th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating on shares of Marathon Petroleum in a research note on Thursday, January 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $91.24.
NYSE MPC opened at $60.02 on Wednesday. Marathon Petroleum Corp has a twelve month low of $54.29 and a twelve month high of $88.45. The stock has a market cap of $40.78 billion, a P/E ratio of 8.85, a price-to-earnings-growth ratio of 1.28 and a beta of 1.37. 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 released its earnings results on Thursday, February 7th. The oil and gas company reported $2.41 earnings per share 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 firm had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $34.16 billion. During the same period in the prior year, the business posted $1.05 earnings per share. The firm’s revenue for the quarter was up 53.2% compared to the same quarter last year. On average, equities analysts anticipate that Marathon Petroleum Corp will post 5.62 EPS for the current year.
Marathon Petroleum 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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