World Asset Management Inc Purchases 2,759 Shares of Marathon Petroleum Corp (NYSE:MPC)

World Asset Management Inc raised its stake in Marathon Petroleum Corp (NYSE:MPC) by 5.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 57,704 shares of the oil and gas company’s stock after acquiring an additional 2,759 shares during the period. World Asset Management Inc’s holdings in Marathon Petroleum were worth $3,506,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Unison Advisors LLC grew its position in shares of Marathon Petroleum by 0.9% in the 2nd quarter. Unison Advisors LLC now owns 22,197 shares of the oil and gas company’s stock valued at $1,240,000 after buying an additional 191 shares during the last quarter. Tarbox Family Office Inc. lifted its stake in shares of Marathon Petroleum by 51.5% in the 2nd quarter. Tarbox Family Office Inc. now owns 568 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 193 shares during the period. SevenBridge Financial Group LLC lifted its stake in shares of Marathon Petroleum by 6.9% in the 2nd quarter. SevenBridge Financial Group LLC now owns 3,336 shares of the oil and gas company’s stock valued at $186,000 after purchasing an additional 215 shares during the period. Point View Wealth Management Inc. lifted its stake in shares of Marathon Petroleum by 2.7% in the 2nd quarter. Point View Wealth Management Inc. now owns 8,357 shares of the oil and gas company’s stock valued at $467,000 after purchasing an additional 220 shares during the period. Finally, Whitener Capital Management Inc. lifted its stake in shares of Marathon Petroleum by 21.0% in the 2nd quarter. Whitener Capital Management Inc. now owns 1,270 shares of the oil and gas company’s stock valued at $70,000 after purchasing an additional 220 shares during the period. Hedge funds and other institutional investors own 76.57% of the company’s stock.

MPC stock traded up $0.43 during trading on Wednesday, reaching $65.61. 148,203 shares of the stock were exchanged, compared to its average volume of 7,111,204. The firm’s 50 day moving average is $58.32 and its 200 day moving average is $54.56. Marathon Petroleum Corp has a twelve month low of $43.96 and a twelve month high of $73.00. The company has a current ratio of 1.24, a quick ratio of 0.63 and a debt-to-equity ratio of 0.69. The firm has a market cap of $42.73 billion, a P/E ratio of 9.68, a price-to-earnings-growth ratio of 1.71 and a beta of 1.71.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Thursday, August 1st. The oil and gas company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.40. Marathon Petroleum had a return on equity of 9.55% and a net margin of 2.36%. The business had revenue of $33.70 billion for the quarter, compared to the consensus estimate of $33.26 billion. During the same period in the prior year, the business earned $2.27 EPS. The firm’s revenue for the quarter was up 50.1% on a year-over-year basis. As a group, analysts predict that Marathon Petroleum Corp will post 3.83 earnings per share for the current fiscal year.

MPC has been the topic of a number of recent analyst reports. Raymond James boosted their price objective on Marathon Petroleum from $72.00 to $75.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. Jefferies Financial Group initiated coverage on Marathon Petroleum in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $75.00 price objective on the stock. Mizuho set a $90.00 price objective on Marathon Petroleum and gave the company a “buy” rating in a research note on Thursday, September 26th. Citigroup boosted their price objective on Marathon Petroleum from $60.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Morgan Stanley boosted their price objective on Marathon Petroleum from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $73.38.

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

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