Castleark Management LLC decreased its stake in Marathon Petroleum Corp (NYSE:MPC) by 45.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,205 shares of the oil and gas company’s stock after selling 38,870 shares during the quarter. Castleark Management LLC’s holdings in Marathon Petroleum were worth $3,242,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bruderman Asset Management LLC acquired a new position in Marathon Petroleum in the 1st quarter valued at about $102,000. Legacy Financial Advisors Inc. purchased a new stake in shares of Marathon Petroleum in the 2nd quarter valued at approximately $113,000. Northwest Wealth Management LLC purchased a new stake in shares of Marathon Petroleum in the 2nd quarter valued at approximately $116,000. Quadrant Capital Group LLC raised its stake in shares of Marathon Petroleum by 63.8% in the 1st quarter. Quadrant Capital Group LLC now owns 1,787 shares of the oil and gas company’s stock valued at $120,000 after acquiring an additional 696 shares during the period. Finally, Optimum Investment Advisors purchased a new stake in shares of Marathon Petroleum in the 1st quarter valued at approximately $124,000. Institutional investors and hedge funds own 82.78% of the company’s stock.
MPC has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. Citigroup upped their target price on shares of Marathon Petroleum from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. Goldman Sachs Group initiated coverage on shares of Marathon Petroleum in a research note on Tuesday, October 2nd. They set a “conviction-buy” rating on the stock. Wells Fargo & Co reaffirmed a “buy” rating on shares of Marathon Petroleum in a research note on Monday, August 27th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $87.00 price objective on shares of Marathon Petroleum in a research report on Friday, July 27th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Marathon Petroleum presently has an average rating of “Buy” and a consensus price target of $91.75.
Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Thursday, July 26th. The oil and gas company reported $2.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.98 by $0.29. The firm had revenue of $22.45 billion during 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%. Marathon Petroleum’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.93 EPS. On average, analysts forecast that Marathon Petroleum Corp will post 5.05 earnings per share for the current fiscal year.
Marathon Petroleum Company Profile
Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing, Speedway and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.
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