Waverly Advisors LLC Raises Stock Holdings in Marathon Petroleum Corporation $MPC

Waverly Advisors LLC boosted its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 9.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,154 shares of the oil and gas company’s stock after buying an additional 2,239 shares during the quarter. Waverly Advisors LLC’s holdings in Marathon Petroleum were worth $6,142,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in MPC. Pictet Asset Management Holding SA increased its position in shares of Marathon Petroleum by 31.0% during the first quarter. Pictet Asset Management Holding SA now owns 213,545 shares of the oil and gas company’s stock valued at $52,146,000 after buying an additional 50,521 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in Marathon Petroleum by 570.7% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 168,644 shares of the oil and gas company’s stock worth $41,180,000 after buying an additional 143,500 shares during the period. North Dakota State Investment Board purchased a new stake in Marathon Petroleum in the fourth quarter worth about $1,714,000. KBC Group NV boosted its position in Marathon Petroleum by 22.4% during the 4th quarter. KBC Group NV now owns 225,837 shares of the oil and gas company’s stock valued at $36,728,000 after acquiring an additional 41,259 shares in the last quarter. Finally, ABC Arbitrage SA purchased a new position in shares of Marathon Petroleum during the 4th quarter worth approximately $4,977,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $306.58 on Wednesday. Marathon Petroleum Corporation has a 1 year low of $158.00 and a 1 year high of $326.92. The firm’s 50-day moving average is $270.57 and its 200 day moving average is $234.97. The stock has a market cap of $89.50 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 0.20 and a beta of 0.52. 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 released its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.91. The business had revenue of $34.20 billion during the quarter, compared to analyst estimates of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. Marathon Petroleum’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business earned ($0.24) EPS. Sell-side analysts anticipate that Marathon Petroleum Corporation will post 43.19 EPS for the current fiscal year.

Insider Activity at Marathon Petroleum

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

Analysts Set New Price Targets

MPC has been the subject of several research reports. BMO Capital Markets reissued an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, June 12th. Citigroup raised their price objective on Marathon Petroleum from $257.00 to $303.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. upped their target price on shares of Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Wells Fargo & Company reissued an “overweight” rating and set a $344.00 price target on shares of Marathon Petroleum in a research report on Monday, June 15th. Finally, Barclays upped their price objective on shares of Marathon Petroleum from $270.00 to $289.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Eleven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and an average target price of $298.69.

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.