Sumitomo Mitsui Asset Management Company LTD grew its position in shares of Marathon Petroleum Corp (NYSE:MPC) by 7.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,685 shares of the oil and gas company’s stock after buying an additional 3,586 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Marathon Petroleum were worth $3,973,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Cypress Capital Group lifted its position in shares of Marathon Petroleum by 184.3% during the 2nd quarter. Cypress Capital Group now owns 27,957 shares of the oil and gas company’s stock worth $1,961,000 after buying an additional 18,124 shares in the last quarter. Cozad Asset Management Inc. purchased a new stake in shares of Marathon Petroleum during the 2nd quarter worth approximately $694,000. WINTON GROUP Ltd increased its stake in shares of Marathon Petroleum by 8.4% during the 2nd quarter. WINTON GROUP Ltd now owns 135,374 shares of the oil and gas company’s stock worth $9,498,000 after purchasing an additional 10,529 shares during the last quarter. Andra AP fonden purchased a new stake in shares of Marathon Petroleum during the 2nd quarter worth approximately $6,258,000. Finally, PointState Capital LP purchased a new stake in shares of Marathon Petroleum during the 2nd quarter worth approximately $378,482,000. 82.82% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on MPC shares. Zacks Investment Research lowered shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Monday, July 16th. Barclays started coverage on shares of Marathon Petroleum in a research note on Wednesday, October 3rd. They set an “overweight” rating and a $125.00 price target for the company. Wells Fargo & Co restated a “buy” rating on shares of Marathon Petroleum in a research note on Monday, August 27th. Royal Bank of Canada restated a “buy” rating and set a $87.00 price target on shares of Marathon Petroleum in a research note on Friday, July 27th. Finally, Mizuho started coverage on shares of Marathon Petroleum in a research note on Wednesday, August 1st. They set a “buy” rating and a $95.00 price target for the company. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $92.38.
Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Thursday, July 26th. The oil and gas company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.29. Marathon Petroleum had a net margin of 4.89% and a return on equity of 12.83%. The business had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.14 billion. During the same period in the previous year, the business earned $0.93 EPS. Marathon Petroleum’s revenue was up 22.3% compared to the same quarter last year. Sell-side analysts forecast that Marathon Petroleum Corp will post 5.02 EPS for the current year.
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, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.
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