Huntington National Bank lowered its position in shares of Marathon Petroleum Corp (NYSE:MPC) by 3.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,275 shares of the oil and gas company’s stock after selling 4,852 shares during the quarter. Huntington National Bank’s holdings in Marathon Petroleum were worth $9,699,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. United Capital Financial Advisers LLC increased its holdings in shares of Marathon Petroleum by 20.4% in the first quarter. United Capital Financial Advisers LLC now owns 15,285 shares of the oil and gas company’s stock valued at $1,117,000 after purchasing an additional 2,593 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Marathon Petroleum by 10.1% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 41,254 shares of the oil and gas company’s stock valued at $3,010,000 after purchasing an additional 3,772 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Marathon Petroleum by 62.6% in the first quarter. LPL Financial LLC now owns 87,696 shares of the oil and gas company’s stock valued at $6,411,000 after purchasing an additional 33,754 shares during the last quarter. Private Capital Group LLC increased its holdings in shares of Marathon Petroleum by 547.0% in the first quarter. Private Capital Group LLC now owns 1,708 shares of the oil and gas company’s stock valued at $125,000 after purchasing an additional 1,444 shares during the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in shares of Marathon Petroleum in the first quarter valued at approximately $285,000. 82.82% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently commented on MPC shares. Zacks Investment Research raised Marathon Petroleum from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a report on Sunday, July 15th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $87.00 price target on shares of Marathon Petroleum in a report on Friday, July 27th. JPMorgan Chase & Co. increased their price target on Marathon Petroleum from $98.00 to $102.00 and gave the company an “overweight” rating in a report on Friday, July 27th. Mizuho started coverage on Marathon Petroleum in a report on Wednesday, August 1st. They issued a “buy” rating and a $95.00 price target for the company. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Marathon Petroleum in a report on Monday, August 27th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned 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 target price of $92.38.
Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Thursday, July 26th. The oil and gas company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.29. The company had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.14 billion. Marathon Petroleum had a return on equity of 12.83% and a net margin of 4.89%. The firm’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.93 earnings per share. Equities research analysts predict that Marathon Petroleum Corp will post 5.02 EPS for the current 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, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.
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