Nippon Life Global Investors Americas Inc. increased its position in shares of Marathon Petroleum Corp (NYSE:MPC) by 31.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,500 shares of the oil and gas company’s stock after purchasing an additional 16,280 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Marathon Petroleum were worth $4,100,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Lincoln National Corp grew its stake in shares of Marathon Petroleum by 8.6% during the second quarter. Lincoln National Corp now owns 5,089 shares of the oil and gas company’s stock worth $284,000 after purchasing an additional 402 shares in the last quarter. Carderock Capital Management Inc. boosted its stake in Marathon Petroleum by 1.4% in the second quarter. Carderock Capital Management Inc. now owns 41,462 shares of the oil and gas company’s stock valued at $2,317,000 after acquiring an additional 588 shares in the last quarter. Next Capital Management LLC acquired a new position in Marathon Petroleum in the second quarter valued at $35,000. Buckingham Asset Management LLC boosted its stake in Marathon Petroleum by 86.2% in the second quarter. Buckingham Asset Management LLC now owns 7,523 shares of the oil and gas company’s stock valued at $420,000 after acquiring an additional 3,482 shares in the last quarter. Finally, Sawtooth Solutions LLC boosted its stake in Marathon Petroleum by 19.1% in the second quarter. Sawtooth Solutions LLC now owns 18,449 shares of the oil and gas company’s stock valued at $1,031,000 after acquiring an additional 2,960 shares in the last quarter. Hedge funds and other institutional investors own 76.57% of the company’s stock.
Several equities analysts have issued reports on MPC shares. Wells Fargo & Co upped their price objective on shares of Marathon Petroleum from $75.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, September 25th. Mizuho set a $90.00 price objective on shares of Marathon Petroleum and gave the company a “buy” rating in a research note on Thursday, September 26th. Jefferies Financial Group started coverage on shares of Marathon Petroleum in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $75.00 price objective for the company. Citigroup upped their price objective on shares of Marathon Petroleum from $60.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Raymond James upped their price objective on shares of Marathon Petroleum from $72.00 to $75.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Marathon Petroleum currently has a consensus rating of “Buy” and a consensus target price of $72.93.
Shares of MPC traded down $0.47 during mid-day trading on Monday, hitting $64.67. 4,691,389 shares of the company’s stock were exchanged, compared to its average volume of 6,635,542. Marathon Petroleum Corp has a fifty-two week low of $43.96 and a fifty-two week high of $74.56. The firm has a market capitalization of $42.20 billion, a P/E ratio of 9.54, a P/E/G ratio of 1.68 and a beta of 1.71. The business’s 50 day moving average is $57.99 and its two-hundred day moving average is $54.53. The company has a current ratio of 1.24, a quick ratio of 0.63 and a debt-to-equity ratio of 0.69.
Marathon Petroleum (NYSE:MPC) last announced its earnings results on Thursday, August 1st. The oil and gas company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.40. Marathon Petroleum had a net margin of 2.36% and a return on equity of 9.55%. The business had revenue of $33.70 billion during the quarter, compared to the consensus estimate of $33.26 billion. During the same quarter in the prior year, the firm earned $2.27 earnings per share. The business’s quarterly revenue was up 50.1% compared to the same quarter last year. On average, equities research analysts forecast that Marathon Petroleum Corp will post 3.83 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.
Featured Story: Stock Symbols, CUSIP and Other Stock Identifiers
Receive News & Ratings for Marathon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.