Locust Wood Capital Advisers LLC Purchases Shares of 451,970 Marathon Petroleum Corp (NYSE:MPC)

Locust Wood Capital Advisers LLC purchased a new stake in shares of Marathon Petroleum Corp (NYSE:MPC) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 451,970 shares of the oil and gas company’s stock, valued at approximately $27,457,000. Marathon Petroleum makes up approximately 2.3% of Locust Wood Capital Advisers LLC’s investment portfolio, making the stock its 19th biggest position. Locust Wood Capital Advisers LLC owned about 0.07% of Marathon Petroleum as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Nippon Life Global Investors Americas Inc. boosted its stake in Marathon Petroleum by 31.8% during the 3rd quarter. Nippon Life Global Investors Americas Inc. now owns 67,500 shares of the oil and gas company’s stock valued at $4,100,000 after purchasing an additional 16,280 shares in the last quarter. Signature Wealth Management Group boosted its stake in shares of Marathon Petroleum by 10.1% during the 3rd quarter. Signature Wealth Management Group now owns 11,776 shares of the oil and gas company’s stock worth $715,000 after acquiring an additional 1,084 shares in the last quarter. Calamos Advisors LLC boosted its stake in shares of Marathon Petroleum by 4.0% during the 3rd quarter. Calamos Advisors LLC now owns 456,529 shares of the oil and gas company’s stock worth $27,734,000 after acquiring an additional 17,756 shares in the last quarter. Calamos Wealth Management LLC boosted its stake in shares of Marathon Petroleum by 2.8% during the 3rd quarter. Calamos Wealth Management LLC now owns 68,051 shares of the oil and gas company’s stock worth $4,134,000 after acquiring an additional 1,882 shares in the last quarter. Finally, Valicenti Advisory Services Inc. bought a new stake in shares of Marathon Petroleum during the 3rd quarter worth $4,906,000. 76.57% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently weighed in on the company. Citigroup raised their price objective on Marathon Petroleum from $60.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Wells Fargo & Co raised their price objective on Marathon Petroleum from $75.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 25th. Raymond James raised their price objective on Marathon Petroleum from $72.00 to $75.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. Mizuho set a $90.00 price objective on Marathon Petroleum and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Jefferies Financial Group assumed coverage on Marathon Petroleum in a research note on Tuesday, September 3rd. They set a “buy” rating and a $75.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $73.38.

Shares of Marathon Petroleum stock traded up $0.76 during midday trading on Tuesday, hitting $65.43. The company’s stock had a trading volume of 88,670 shares, compared to its average volume of 7,149,839. The firm has a market capitalization of $42.88 billion, a P/E ratio of 9.65, a PEG ratio of 1.71 and a beta of 1.71. The stock has a 50-day simple moving average of $57.99 and a 200-day simple moving average of $54.53. The company has a quick ratio of 0.63, a current ratio of 1.24 and a debt-to-equity ratio of 0.69. Marathon Petroleum Corp has a 1-year low of $43.96 and a 1-year high of $74.56.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Thursday, August 1st. The oil and gas company reported $1.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.40. The business had revenue of $33.70 billion during the quarter, compared to analysts’ expectations of $33.26 billion. Marathon Petroleum had a return on equity of 9.55% and a net margin of 2.36%. Marathon Petroleum’s revenue was up 50.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.27 earnings per share. As a group, sell-side analysts predict that Marathon Petroleum Corp will post 3.83 earnings per share for the current 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; Retail; 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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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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