Marathon Petroleum Corp (MPC) Stake Lessened by Wendell David Associates Inc.

Wendell David Associates Inc. cut its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 1.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,120 shares of the oil and gas company’s stock after selling 1,187 shares during the period. Wendell David Associates Inc.’s holdings in Marathon Petroleum were worth $4,556,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of MPC. Bank of New York Mellon Corp raised its position in Marathon Petroleum by 16.0% during the third quarter. Bank of New York Mellon Corp now owns 8,709,970 shares of the oil and gas company’s stock valued at $696,535,000 after buying an additional 1,203,638 shares during the period. CI Investments Inc. grew its stake in Marathon Petroleum by 43.2% in the third quarter. CI Investments Inc. now owns 581,300 shares of the oil and gas company’s stock valued at $46,487,000 after purchasing an additional 175,300 shares in the last quarter. Brown Advisory Inc. grew its stake in Marathon Petroleum by 24.1% in the third quarter. Brown Advisory Inc. now owns 5,745 shares of the oil and gas company’s stock valued at $459,000 after purchasing an additional 1,115 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Marathon Petroleum by 61.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,015 shares of the oil and gas company’s stock valued at $2,021,000 after purchasing an additional 9,568 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Marathon Petroleum by 18.2% in the third quarter. The Manufacturers Life Insurance Company now owns 611,573 shares of the oil and gas company’s stock valued at $48,908,000 after purchasing an additional 94,132 shares in the last quarter. 79.24% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CEO Gary R. Heminger sold 187,142 shares of the stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $65.00, for a total transaction of $12,164,230.00. Following the completion of the sale, the chief executive officer now owns 434,166 shares in the company, valued at approximately $28,220,790. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.06% of the stock is owned by corporate insiders.

A number of research analysts have commented on the company. Standpoint Research assumed coverage on Marathon Petroleum in a research note on Wednesday, December 26th. They issued an “accumulate” rating on the stock. Citigroup lowered their target price on Marathon Petroleum from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. Raymond James lowered their target price on Marathon Petroleum from $90.00 to $85.00 and set a “strong-buy” rating on the stock in a research note on Wednesday. ValuEngine downgraded Marathon Petroleum from a “hold” rating to a “sell” rating in a research note on Tuesday, March 5th. Finally, Piper Jaffray Companies reiterated an “overweight” rating on shares of Marathon Petroleum in a research note on Thursday, January 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $92.24.

Shares of MPC traded down $0.48 during trading hours on Thursday, hitting $63.12. 346,375 shares of the company were exchanged, compared to its average volume of 6,463,241. Marathon Petroleum Corp has a 52 week low of $54.29 and a 52 week high of $88.45. The company has a market cap of $42.84 billion, a PE ratio of 9.35, a price-to-earnings-growth ratio of 1.29 and a beta of 1.37. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.62 and a current ratio of 1.36.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Thursday, February 7th. The oil and gas company reported $2.41 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.43. Marathon Petroleum had a return on equity of 14.14% and a net margin of 2.86%. The firm had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $34.16 billion. During the same quarter in the prior year, the company earned $1.05 EPS. The firm’s revenue for the quarter was up 53.2% compared to the same quarter last year. On average, research analysts predict that Marathon Petroleum Corp will post 5.73 earnings per share for the current year.

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About Marathon Petroleum

Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.

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

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