1832 Asset Management L.P. Sells 5,119 Shares of Marathon Petroleum Co. (NYSE:MPC)

1832 Asset Management L.P. decreased its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 18.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 23,347 shares of the oil and gas company’s stock after selling 5,119 shares during the quarter. 1832 Asset Management L.P.’s holdings in Marathon Petroleum were worth $4,704,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MPC. Relyea Zuckerberg Hanson LLC bought a new stake in shares of Marathon Petroleum in the 4th quarter valued at $209,000. Blue Trust Inc. increased its position in shares of Marathon Petroleum by 17.0% in the 4th quarter. Blue Trust Inc. now owns 1,743 shares of the oil and gas company’s stock valued at $263,000 after buying an additional 253 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of Marathon Petroleum by 6.3% in the 4th quarter. Global Retirement Partners LLC now owns 3,542 shares of the oil and gas company’s stock valued at $546,000 after buying an additional 209 shares in the last quarter. Caprock Group LLC increased its position in shares of Marathon Petroleum by 15.1% in the 4th quarter. Caprock Group LLC now owns 2,295 shares of the oil and gas company’s stock valued at $341,000 after buying an additional 301 shares in the last quarter. Finally, Chilton Capital Management LLC bought a new stake in shares of Marathon Petroleum in the 4th quarter valued at $593,000. Institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on MPC. Wells Fargo & Company lowered their price objective on shares of Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Tudor Pickering raised shares of Marathon Petroleum to a “strong-buy” rating in a research note on Thursday, May 30th. StockNews.com lowered shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Mizuho reduced their target price on shares of Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating for the company in a research note on Thursday, June 20th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Six analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $193.64.

Marathon Petroleum Stock Performance

NYSE:MPC traded up $1.15 during mid-day trading on Friday, hitting $172.65. The stock had a trading volume of 1,789,399 shares, compared to its average volume of 2,332,050. Marathon Petroleum Co. has a twelve month low of $128.07 and a twelve month high of $221.11. The stock has a market cap of $60.83 billion, a price-to-earnings ratio of 8.62, a PEG ratio of 2.07 and a beta of 1.40. The company’s 50 day simple moving average is $171.80 and its 200 day simple moving average is $178.08. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 1.43.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.25. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The business had revenue of $32.71 billion during the quarter, compared to the consensus estimate of $32.07 billion. During the same period last year, the business posted $6.09 EPS. Marathon Petroleum’s revenue was down 6.2% on a year-over-year basis. On average, equities research analysts forecast that Marathon Petroleum Co. will post 13.84 earnings per share for the current year.

Marathon Petroleum declared that its board has authorized a stock buyback plan on Tuesday, April 30th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 7.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.