Stonebridge Capital Advisors LLC Purchases Shares of 1,123 Marathon Petroleum Co. (NYSE:MPC)

Stonebridge Capital Advisors LLC purchased a new stake in shares of Marathon Petroleum Co. (NYSE:MPC) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,123 shares of the oil and gas company’s stock, valued at approximately $226,000.

A number of other hedge funds also recently bought and sold shares of MPC. Norges Bank bought a new stake in Marathon Petroleum during the fourth quarter valued at about $500,685,000. Capital Wealth Planning LLC lifted its stake in shares of Marathon Petroleum by 10,902.9% in the first quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock valued at $223,792,000 after buying an additional 1,100,536 shares during the period. Schroder Investment Management Group lifted its stake in shares of Marathon Petroleum by 309.9% in the fourth quarter. Schroder Investment Management Group now owns 643,590 shares of the oil and gas company’s stock valued at $95,483,000 after buying an additional 486,573 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Marathon Petroleum by 248.1% in the fourth quarter. International Assets Investment Management LLC now owns 608,888 shares of the oil and gas company’s stock valued at $90,335,000 after buying an additional 433,977 shares during the period. Finally, Canoe Financial LP bought a new stake in shares of Marathon Petroleum in the fourth quarter valued at about $33,604,000. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Price Performance

Shares of NYSE MPC traded up $1.15 during mid-day trading on Friday, hitting $172.65. 1,789,399 shares of the stock were exchanged, compared to its average volume of 2,332,050. The company has a market cap of $60.83 billion, a P/E ratio of 8.62, a PEG ratio of 2.07 and a beta of 1.40. The stock’s fifty day simple moving average is $171.80 and its two-hundred day simple moving average is $177.91. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 1.43. Marathon Petroleum Co. has a twelve month low of $128.07 and a twelve month high of $221.11.

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 for the quarter, beating analysts’ consensus estimates of $2.53 by $0.25. The business had revenue of $32.71 billion during the quarter, compared to analyst estimates of $32.07 billion. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. Marathon Petroleum’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $6.09 earnings per share. As a group, analysts forecast that Marathon Petroleum Co. will post 13.84 EPS for the current fiscal year.

Marathon Petroleum announced that its Board of Directors has authorized a share repurchase plan on Tuesday, April 30th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas company to buy up to 7.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

MPC has been the subject of several research reports. Wells Fargo & Company reduced their target price on shares of Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Scotiabank reduced their target price on shares of Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Barclays reduced their target price on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday, July 1st. Jefferies Financial Group raised their price target on shares of Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Finally, Mizuho cut their price target on shares of Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating for the company in a research note on Thursday, June 20th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $193.64.

About Marathon Petroleum

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.