Trading Report: The Strs Ohio Reduced the position of Marathon Petroleum Corp. (MPC)

The Strs Ohio Reduced the position of Marathon Petroleum Corp. (MPC)

Strs Ohio decreased its stake in shares of Marathon Petroleum Corp. (NYSE:MPC) by 93.1% during the second quarter, Holdings Channel reports. The institutional investor owned 23,963 shares of the company’s stock after selling 325,526 shares during the period. Strs Ohio’s holdings in Marathon Petroleum Corp. were worth $909,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Magnetar Financial LLC purchased a new position in Marathon Petroleum Corp. during the first quarter valued at $63,206,000. State Street Corp boosted its position in Marathon Petroleum Corp. by 4.3% in the first quarter. State Street Corp now owns 26,571,583 shares of the company’s stock valued at $987,917,000 after buying an additional 1,091,661 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Marathon Petroleum Corp. by 702.4% in the first quarter. Canada Pension Plan Investment Board now owns 964,042 shares of the company’s stock valued at $35,843,000 after buying an additional 843,900 shares in the last quarter. Natixis boosted its position in Marathon Petroleum Corp. by 52.0% in the first quarter. Natixis now owns 1,103,385 shares of the company’s stock valued at $41,024,000 after buying an additional 377,559 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in Marathon Petroleum Corp. by 6.6% in the first quarter. Legal & General Group Plc now owns 2,693,717 shares of the company’s stock valued at $100,120,000 after buying an additional 167,259 shares in the last quarter. Institutional investors and hedge funds own 79.71% of the company’s stock.

Shares of Marathon Petroleum Corp. (NYSE:MPC) traded up 0.48% on Monday, reaching $41.85. The company had a trading volume of 4,100,275 shares. The firm has a market capitalization of $22.13 billion, a PE ratio of 11.55 and a beta of 2.06. Marathon Petroleum Corp. has a 12 month low of $29.24 and a 12 month high of $59.99. The firm’s 50 day moving average is $42.26 and its 200 day moving average is $38.90.

Marathon Petroleum Corp. (NYSE:MPC) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.10. Marathon Petroleum Corp. had a return on equity of 10.94% and a net margin of 3.02%. The company had revenue of $16.81 billion for the quarter, compared to analysts’ expectations of $16.30 billion. During the same period in the prior year, the firm earned $1.51 earnings per share. The firm’s revenue was down 18.4% compared to the same quarter last year. On average, equities research analysts expect that Marathon Petroleum Corp. will post $2.41 earnings per share for the current fiscal year.

Several equities research analysts have recently issued reports on the company. Vetr raised Marathon Petroleum Corp. from a “buy” rating to a “strong-buy” rating and set a $46.33 price objective for the company in a research note on Monday, August 1st. Howard Weil lowered Marathon Petroleum Corp. from a “sector outperform” rating to a “sector perform” rating and set a $42.00 price objective for the company. in a research note on Monday, July 11th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $54.00 price objective on shares of Marathon Petroleum Corp. in a research note on Wednesday, October 12th. TheStreet raised Marathon Petroleum Corp. from a “hold” rating to a “buy” rating in a research note on Monday, August 8th. Finally, Bank of America Corp. reaffirmed a “buy” rating on shares of Marathon Petroleum Corp. in a research note on Monday, September 26th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $53.37.

About Marathon Petroleum Corp.

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.

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