Huntington National Bank raised its stake in Marathon Petroleum Corp. (NYSE:MPC) by 64.6% during the second quarter, Holdings Channel reports. The fund owned 165,652 shares of the company’s stock after buying an additional 65,034 shares during the period. Huntington National Bank’s holdings in Marathon Petroleum Corp. were worth $6,288,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Acrospire Investment Management LLC purchased a new position in Marathon Petroleum Corp. during the first quarter valued at about $108,000. Gierl Augustine Investment Management Inc increased its position in Marathon Petroleum Corp. by 35.2% in the second quarter. Gierl Augustine Investment Management Inc now owns 3,124 shares of the company’s stock valued at $119,000 after buying an additional 814 shares in the last quarter. Invictus RG increased its position in Marathon Petroleum Corp. by 35.7% in the first quarter. Invictus RG now owns 3,176 shares of the company’s stock valued at $118,000 after buying an additional 835 shares in the last quarter. Mercer Capital Advisers Inc. increased its position in Marathon Petroleum Corp. by 433.5% in the second quarter. Mercer Capital Advisers Inc. now owns 3,692 shares of the company’s stock valued at $140,000 after buying an additional 3,000 shares in the last quarter. Finally, Advisory Services Network LLC increased its position in Marathon Petroleum Corp. by 7.7% in the second quarter. Advisory Services Network LLC now owns 4,206 shares of the company’s stock valued at $160,000 after buying an additional 300 shares in the last quarter. 79.85% of the stock is owned by hedge funds and other institutional investors.
Marathon Petroleum Corp. (NYSE:MPC) traded down 0.24% during midday trading on Thursday, reaching $41.56. The company had a trading volume of 4,308,328 shares. The stock has a market capitalization of $21.98 billion, a PE ratio of 11.47 and a beta of 2.06. The company has a 50-day moving average of $42.28 and a 200-day moving average of $38.78. Marathon Petroleum Corp. has a 12-month low of $29.24 and a 12-month high of $59.99.
Marathon Petroleum Corp. (NYSE:MPC) last announced its quarterly earnings results on Thursday, July 28th. The company reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.10. The business had revenue of $16.81 billion for the quarter, compared to analysts’ expectations of $16.30 billion. Marathon Petroleum Corp. had a return on equity of 10.94% and a net margin of 3.02%. The business’s quarterly revenue was down 18.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.51 EPS. On average, analysts predict that Marathon Petroleum Corp. will post $2.41 EPS for the current fiscal year.
Several research analysts have recently issued reports on MPC shares. Jefferies Group started coverage on Marathon Petroleum Corp. in a research note on Tuesday, August 23rd. They issued a “buy” rating and a $48.00 price objective for the company. Vetr raised Marathon Petroleum Corp. from a “buy” rating to a “strong-buy” rating and set a $51.50 price objective for the company in a research note on Monday, September 12th. Piper Jaffray Cos. upped their price objective on Marathon Petroleum Corp. from $41.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, September 16th. Goldman Sachs Group Inc. reaffirmed a “top pick” rating on shares of Marathon Petroleum Corp. in a research note on Thursday, June 30th. Finally, Credit Suisse Group AG reaffirmed an “outperform” rating on shares of Marathon Petroleum Corp. in a research note on Sunday, September 4th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $53.37.
Marathon Petroleum Corp. Company Profile
Marathon Petroleum Corporation is engaged in petroleum product refining, marketing, retail and transportation businesses in the United States and the east of the Mississippi. The Company’s segments include Refining & Marketing, Speedway, and Midstream. Its Refining & Marketing segment refines crude oil and other feedstocks at its approximately seven refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products.