Smith Group Asset Management LLC Raises Stock Holdings in Marathon Petroleum Corporation $MPC

Smith Group Asset Management LLC raised its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 7.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 93,041 shares of the oil and gas company’s stock after purchasing an additional 6,337 shares during the period. Smith Group Asset Management LLC’s holdings in Marathon Petroleum were worth $22,719,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MPC. Brighton Jones LLC raised its position in Marathon Petroleum by 30.9% during the fourth quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock worth $696,000 after acquiring an additional 1,178 shares during the period. Woodline Partners LP grew its position in shares of Marathon Petroleum by 38.3% in the first quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company’s stock valued at $3,889,000 after purchasing an additional 7,396 shares during the period. Sivia Capital Partners LLC increased its stake in shares of Marathon Petroleum by 26.6% during the second quarter. Sivia Capital Partners LLC now owns 2,221 shares of the oil and gas company’s stock worth $369,000 after purchasing an additional 466 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Marathon Petroleum during the 2nd quarter worth about $8,505,000. Finally, AXA S.A. lifted its stake in Marathon Petroleum by 46.7% in the 2nd quarter. AXA S.A. now owns 39,675 shares of the oil and gas company’s stock valued at $6,590,000 after buying an additional 12,639 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the sale, the vice president directly owned 16,900 shares of the company’s stock, valued at $4,543,058. This trade represents a 27.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MPC has been the subject of several research reports. Weiss Ratings upgraded Marathon Petroleum from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, July 6th. Morgan Stanley lifted their price target on Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Mizuho boosted their price target on Marathon Petroleum from $224.00 to $284.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. Jefferies Financial Group set a $335.00 price objective on Marathon Petroleum and gave the company a “buy” rating in a report on Sunday, July 12th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Marathon Petroleum from $235.00 to $257.00 in a research note on Wednesday, May 6th. Eleven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average price target of $298.69.

Marathon Petroleum Trading Down 1.8%

Shares of Marathon Petroleum stock opened at $306.58 on Wednesday. The stock has a market cap of $89.50 billion, a P/E ratio of 20.01, a P/E/G ratio of 0.20 and a beta of 0.52. The stock’s 50 day simple moving average is $270.57 and its 200-day simple moving average is $234.97. Marathon Petroleum Corporation has a 1-year low of $158.00 and a 1-year high of $326.92. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, beating the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The firm had revenue of $34.20 billion during the quarter, compared to analysts’ expectations of $33.42 billion. During the same quarter last year, the firm earned ($0.24) earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. Analysts predict that Marathon Petroleum Corporation will post 43.19 EPS for the current fiscal year.

Marathon Petroleum Company Profile

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.