Townsquare Capital LLC Sells 3,342 Shares of Marathon Petroleum Corporation $MPC

Townsquare Capital LLC reduced its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 44.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,112 shares of the oil and gas company’s stock after selling 3,342 shares during the period. Townsquare Capital LLC’s holdings in Marathon Petroleum were worth $793,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MPC. Vanguard Group Inc. increased its stake in shares of Marathon Petroleum by 11.2% in the 2nd quarter. Vanguard Group Inc. now owns 38,866,104 shares of the oil and gas company’s stock worth $6,456,049,000 after acquiring an additional 3,924,713 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Marathon Petroleum by 14.8% in the second quarter. Geode Capital Management LLC now owns 8,013,213 shares of the oil and gas company’s stock worth $1,325,598,000 after acquiring an additional 1,033,645 shares during the last quarter. Boston Partners grew its position in Marathon Petroleum by 13.1% during the 2nd quarter. Boston Partners now owns 6,163,737 shares of the oil and gas company’s stock valued at $1,024,395,000 after purchasing an additional 715,223 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Marathon Petroleum by 12.8% during the second quarter. Bank of New York Mellon Corp now owns 5,619,398 shares of the oil and gas company’s stock valued at $933,438,000 after buying an additional 637,050 shares during the last quarter. Finally, Norges Bank bought a new position in Marathon Petroleum in the 2nd quarter valued at approximately $527,197,000. Institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on MPC shares. BMO Capital Markets reduced their target price on shares of Marathon Petroleum from $208.00 to $200.00 and set an “outperform” rating for the company in a report on Monday, January 12th. JPMorgan Chase & Co. decreased their target price on Marathon Petroleum from $211.00 to $179.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 13th. Scotiabank reiterated an “outperform” rating and issued a $174.00 price target on shares of Marathon Petroleum in a research report on Friday, January 16th. TD Cowen cut their price target on shares of Marathon Petroleum from $195.00 to $183.00 and set a “buy” rating on the stock in a report on Tuesday, January 20th. Finally, Wells Fargo & Company lowered their target price on shares of Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Nine investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $196.67.

Marathon Petroleum Trading Up 0.2%

NYSE MPC opened at $176.06 on Friday. The stock has a market cap of $52.92 billion, a P/E ratio of 18.77, a P/E/G ratio of 1.80 and a beta of 0.74. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $202.29. The company has a fifty day simple moving average of $177.62 and a two-hundred day simple moving average of $180.50.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.01. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%.The business had revenue of $34.81 billion during the quarter, compared to analysts’ expectations of $31.06 billion. On average, analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.