1832 Asset Management L.P. Decreases Position in Marathon Petroleum Co. (NYSE:MPC)

1832 Asset Management L.P. decreased its stake in Marathon Petroleum Co. (NYSE:MPC) by 18.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,347 shares of the oil and gas company’s stock after selling 5,119 shares during the period. 1832 Asset Management L.P.’s holdings in Marathon Petroleum were worth $4,704,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Marathon Petroleum in the fourth quarter worth about $25,000. FinTrust Capital Advisors LLC boosted its position in shares of Marathon Petroleum by 400.0% in the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock worth $25,000 after buying an additional 100 shares during the period. Crewe Advisors LLC acquired a new position in shares of Marathon Petroleum in the first quarter worth about $29,000. ICA Group Wealth Management LLC acquired a new position in shares of Marathon Petroleum in the fourth quarter worth about $30,000. Finally, Vima LLC acquired a new position in shares of Marathon Petroleum in the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

MPC has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price target on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Tudor Pickering upgraded Marathon Petroleum to a “strong-buy” rating in a research note on Thursday, May 30th. Wells Fargo & Company cut their price target on Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Mizuho cut their price objective on Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. Finally, Barclays cut their price objective on Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating on the stock in a research note on Monday, July 1st. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $193.64.

Marathon Petroleum Stock Performance

MPC stock traded up $1.15 on Friday, reaching $172.65. The company’s stock had a trading volume of 1,789,399 shares, compared to its average volume of 2,332,050. Marathon Petroleum Co. has a 52 week low of $128.07 and a 52 week high of $221.11. The company has a market capitalization of $60.83 billion, a P/E ratio of 8.62, a price-to-earnings-growth ratio of 2.07 and a beta of 1.40. The firm has a fifty day moving average of $171.80 and a two-hundred day moving average of $178.08. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 0.99.

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

Marathon Petroleum announced that its Board of Directors has approved a share repurchase plan on Tuesday, April 30th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 7.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Marathon Petroleum 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.