Patton Albertson Miller Group LLC Takes $583,000 Position in Marathon Petroleum Corporation $MPC

Patton Albertson Miller Group LLC bought a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,025 shares of the oil and gas company’s stock, valued at approximately $583,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MPC. Vanguard Group Inc. raised its position in Marathon Petroleum by 11.2% in the second quarter. Vanguard Group Inc. now owns 38,866,104 shares of the oil and gas company’s stock worth $6,456,049,000 after acquiring an additional 3,924,713 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Marathon Petroleum by 14.8% during the 2nd quarter. Geode Capital Management LLC now owns 8,013,213 shares of the oil and gas company’s stock valued at $1,325,598,000 after purchasing an additional 1,033,645 shares in the last quarter. Boston Partners grew its stake in shares of Marathon Petroleum by 13.1% in the 2nd quarter. Boston Partners now owns 6,163,737 shares of the oil and gas company’s stock worth $1,024,395,000 after purchasing an additional 715,223 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Marathon Petroleum by 12.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,619,398 shares of the oil and gas company’s stock worth $933,438,000 after purchasing an additional 637,050 shares in the last quarter. Finally, Norges Bank acquired a new stake in Marathon Petroleum during the second quarter valued at approximately $527,197,000. 76.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MPC has been the topic of several research reports. BMO Capital Markets dropped their price target on Marathon Petroleum from $208.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, January 12th. Scotiabank restated an “outperform” rating and issued a $174.00 target price on shares of Marathon Petroleum in a report on Friday, January 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marathon Petroleum in a report on Thursday, January 22nd. Wells Fargo & Company dropped their price target on Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Finally, The Goldman Sachs Group reduced their price objective on shares of Marathon Petroleum from $206.00 to $204.00 and set a “buy” rating for the company in a research note on Thursday, January 22nd. Nine investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $196.67.

Marathon Petroleum Price Performance

NYSE MPC opened at $176.06 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79. The firm has a market capitalization of $52.92 billion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 1.80 and a beta of 0.74. The company has a 50 day simple moving average of $177.62 and a 200-day simple moving average of $180.50. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $202.29.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $3.01 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.01. The firm had revenue of $34.81 billion for the quarter, compared to the consensus estimate of $31.06 billion. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. Equities research analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.