Marathon Petroleum Corp (MPC) Stake Boosted by Cullinan Associates Inc.

Cullinan Associates Inc. lifted its position in shares of Marathon Petroleum Corp (NYSE:MPC) by 7.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,426 shares of the oil and gas company’s stock after purchasing an additional 5,900 shares during the quarter. Cullinan Associates Inc.’s holdings in Marathon Petroleum were worth $7,151,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MPC. PointState Capital LP bought a new position in shares of Marathon Petroleum during the second quarter worth $378,482,000. Bank of Montreal Can bought a new position in shares of Marathon Petroleum during the second quarter worth $184,334,000. Bank of New York Mellon Corp boosted its position in shares of Marathon Petroleum by 44.1% during the second quarter. Bank of New York Mellon Corp now owns 7,506,332 shares of the oil and gas company’s stock worth $526,645,000 after purchasing an additional 2,297,774 shares in the last quarter. Morgan Stanley boosted its position in shares of Marathon Petroleum by 59.5% during the second quarter. Morgan Stanley now owns 5,798,607 shares of the oil and gas company’s stock worth $406,829,000 after purchasing an additional 2,162,851 shares in the last quarter. Finally, Third Point LLC boosted its position in shares of Marathon Petroleum by 55.0% during the second quarter. Third Point LLC now owns 3,100,000 shares of the oil and gas company’s stock worth $217,496,000 after purchasing an additional 1,100,000 shares in the last quarter. 82.82% of the stock is currently owned by institutional investors.

MPC traded down $4.75 during trading on Friday, hitting $74.07. The company had a trading volume of 828,324 shares, compared to its average volume of 9,170,185. The stock has a market capitalization of $35.70 billion, a P/E ratio of 19.65, a P/E/G ratio of 1.33 and a beta of 1.50. Marathon Petroleum Corp has a one year low of $55.87 and a one year high of $88.45. The company has a current ratio of 1.60, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Thursday, July 26th. The oil and gas company reported $2.27 EPS for the quarter, beating the consensus estimate of $1.98 by $0.29. The business had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.14 billion. Marathon Petroleum had a net margin of 4.89% and a return on equity of 12.83%. The firm’s revenue was up 22.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.93 EPS. On average, equities research analysts predict that Marathon Petroleum Corp will post 5.02 EPS for the current fiscal year.

MPC has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research report on Sunday, July 15th. Royal Bank of Canada reissued a “buy” rating and set a $87.00 price target on shares of Marathon Petroleum in a research report on Friday, July 27th. JPMorgan Chase & Co. boosted their price objective on shares of Marathon Petroleum from $98.00 to $102.00 and gave the company an “overweight” rating in a research report on Friday, July 27th. Mizuho started coverage on shares of Marathon Petroleum in a research report on Wednesday, August 1st. They issued a “buy” rating and a $95.00 price objective on the stock. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Marathon Petroleum in a research report on Monday, August 27th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $92.38.

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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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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