Bowling Portfolio Management LLC Has $2.14 Million Stake in Marathon Petroleum Corp (MPC)
Bowling Portfolio Management LLC trimmed its holdings in Marathon Petroleum Corp (NYSE:MPC) by 2.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,669 shares of the oil and gas company’s stock after selling 752 shares during the period. Bowling Portfolio Management LLC’s holdings in Marathon Petroleum were worth $2,135,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Selway Asset Management raised its position in shares of Marathon Petroleum by 6.4% in the first quarter. Selway Asset Management now owns 49,090 shares of the oil and gas company’s stock valued at $2,938,000 after buying an additional 2,950 shares in the last quarter. Deprince Race & Zollo Inc. increased its stake in Marathon Petroleum by 13.5% in the first quarter. Deprince Race & Zollo Inc. now owns 549,783 shares of the oil and gas company’s stock valued at $32,905,000 after acquiring an additional 65,316 shares during the last quarter. Telos Capital Management Inc. bought a new position in Marathon Petroleum in the first quarter valued at approximately $3,192,000. IFM Investors Pty Ltd increased its stake in Marathon Petroleum by 16.5% in the first quarter. IFM Investors Pty Ltd now owns 47,097 shares of the oil and gas company’s stock valued at $2,819,000 after acquiring an additional 6,681 shares during the last quarter. Finally, Signature Wealth Management Group increased its stake in Marathon Petroleum by 12.7% in the first quarter. Signature Wealth Management Group now owns 9,850 shares of the oil and gas company’s stock valued at $590,000 after acquiring an additional 1,112 shares during the last quarter. Institutional investors own 79.25% of the company’s stock.
A number of research analysts recently issued reports on the stock. Raymond James decreased their price objective on shares of Marathon Petroleum from $90.00 to $85.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, April 10th. Morgan Stanley decreased their price objective on shares of Marathon Petroleum from $85.00 to $82.00 and set an “overweight” rating on the stock in a research note on Monday, April 15th. Macquarie assumed coverage on shares of Marathon Petroleum in a research note on Tuesday, February 5th. They issued an “outperform” rating and a $67.18 price objective on the stock. ValuEngine cut shares of Marathon Petroleum from a “hold” rating to a “sell” rating in a research note on Tuesday, March 5th. Finally, Piper Jaffray Companies reissued an “overweight” rating on shares of Marathon Petroleum in a research note on Thursday, January 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $91.24.
NYSE MPC opened at $59.81 on Friday. The firm has a market cap of $40.29 billion, a price-to-earnings ratio of 8.82, a P/E/G ratio of 1.28 and a beta of 1.37. Marathon Petroleum Corp has a fifty-two week low of $54.29 and a fifty-two week high of $88.45. The company has a current ratio of 1.36, a quick ratio of 0.62 and a debt-to-equity ratio of 0.61.
Marathon Petroleum (NYSE:MPC) last posted its earnings results on Thursday, February 7th. The oil and gas company reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.43. The firm had revenue of $32.54 billion for the quarter, compared to analysts’ expectations of $34.16 billion. Marathon Petroleum had a net margin of 2.86% and a return on equity of 14.14%. The company’s revenue was up 53.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.05 earnings per share. As a group, sell-side analysts predict that Marathon Petroleum Corp will post 5.62 earnings per share for the current year.
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Marathon Petroleum Profile
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, Retail, and Midstream. The Refining & Marketing segment refines crude oil and other feed stocks at its 16 refineries in the West Coast, Gulf Coast, and Mid-Continent regions of the United States; and purchases refined products and ethanol for resale.
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