Chesley Taft & Associates LLC Grows Holdings in Marathon Petroleum Corp (NYSE:MPC)

Chesley Taft & Associates LLC increased its holdings in shares of Marathon Petroleum Corp (NYSE:MPC) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 160,253 shares of the oil and gas company’s stock after buying an additional 4,062 shares during the period. Chesley Taft & Associates LLC’s holdings in Marathon Petroleum were worth $10,573,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Marathon Petroleum by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 39,255,717 shares of the oil and gas company’s stock valued at $2,054,251,000 after buying an additional 1,544,114 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Marathon Petroleum by 0.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,103,034 shares of the oil and gas company’s stock valued at $342,221,000 after buying an additional 35,033 shares in the last quarter. Prudential Financial Inc. boosted its holdings in shares of Marathon Petroleum by 61.6% in the 3rd quarter. Prudential Financial Inc. now owns 3,987,706 shares of the oil and gas company’s stock valued at $223,630,000 after buying an additional 1,520,471 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Marathon Petroleum by 14.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,726,855 shares of the oil and gas company’s stock valued at $195,038,000 after buying an additional 482,824 shares in the last quarter. Finally, APG Asset Management N.V. boosted its holdings in shares of Marathon Petroleum by 14.0% in the 3rd quarter. APG Asset Management N.V. now owns 2,961,791 shares of the oil and gas company’s stock valued at $166,097,000 after buying an additional 362,600 shares in the last quarter. 80.61% of the stock is currently owned by institutional investors.

MPC has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Marathon Petroleum from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research report on Monday, October 16th. Edward Jones upgraded shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. Cowen restated a “buy” rating on shares of Marathon Petroleum in a research report on Tuesday, November 14th. Citigroup upped their price objective on shares of Marathon Petroleum from $67.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Finally, Scotiabank restated a “hold” rating and set a $75.00 price objective on shares of Marathon Petroleum in a research report on Wednesday, January 10th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $70.33.

In other news, insider Anthony R. Kenney sold 77,578 shares of Marathon Petroleum stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $62.35, for a total transaction of $4,836,988.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP C. Michael Palmer sold 17,298 shares of Marathon Petroleum stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $64.55, for a total transaction of $1,116,585.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 149,854 shares of company stock worth $9,482,177. 1.05% of the stock is currently owned by corporate insiders.

Marathon Petroleum Corp (NYSE:MPC) traded down $0.64 during trading hours on Wednesday, reaching $70.78. 4,401,400 shares of the company’s stock traded hands, compared to its average volume of 3,300,500. Marathon Petroleum Corp has a 52-week low of $46.88 and a 52-week high of $71.83. The stock has a market cap of $34,880.00, a P/E ratio of 22.12, a P/E/G ratio of 1.51 and a beta of 1.62. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.52 and a quick ratio of 0.80.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.29. Marathon Petroleum had a net margin of 2.35% and a return on equity of 8.52%. The business had revenue of $19.36 billion for the quarter, compared to analysts’ expectations of $19.38 billion. During the same period last year, the company earned $0.58 earnings per share. The company’s quarterly revenue was up 17.6% on a year-over-year basis. sell-side analysts predict that Marathon Petroleum Corp will post 3.76 EPS for the current year.

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About Marathon Petroleum

Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.

Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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