Northstar Capital Management LLC lowered its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 70.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,312 shares of the oil and gas company’s stock after selling 24,337 shares during the period. Northstar Capital Management LLC’s holdings in Marathon Petroleum were worth $576,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Squar Milner Financial Services LLC increased its position in shares of Marathon Petroleum by 7.7% during the first quarter. Squar Milner Financial Services LLC now owns 2,353 shares of the oil and gas company’s stock worth $140,000 after acquiring an additional 168 shares in the last quarter. Accurate Investment Solutions Inc. grew its position in Marathon Petroleum by 4.1% in the 1st quarter. Accurate Investment Solutions Inc. now owns 4,370 shares of the oil and gas company’s stock worth $262,000 after purchasing an additional 173 shares in the last quarter. LS Investment Advisors LLC grew its position in Marathon Petroleum by 0.7% in the 1st quarter. LS Investment Advisors LLC now owns 26,169 shares of the oil and gas company’s stock worth $1,566,000 after purchasing an additional 188 shares in the last quarter. Unison Advisors LLC grew its position in Marathon Petroleum by 0.9% in the 2nd quarter. Unison Advisors LLC now owns 22,197 shares of the oil and gas company’s stock worth $1,240,000 after purchasing an additional 191 shares in the last quarter. Finally, Parallel Advisors LLC grew its position in Marathon Petroleum by 2.3% in the 1st quarter. Parallel Advisors LLC now owns 8,721 shares of the oil and gas company’s stock worth $522,000 after purchasing an additional 194 shares in the last quarter. Hedge funds and other institutional investors own 77.45% of the company’s stock.
A number of equities research analysts have issued reports on MPC shares. Raymond James reaffirmed an “average” rating and issued a $4.50 price objective on shares of John Hancock Financial Opprts Fund in a research report on Thursday, May 9th. Morgan Stanley reaffirmed an “overweight” rating and issued a GBX 460 ($6.01) price objective on shares of Sophos Group in a research report on Friday, May 17th. ValuEngine raised shares of Westpac Banking from a “sell” rating to a “hold” rating in a research report on Wednesday, May 22nd. Wells Fargo & Co reduced their price objective on shares of Teva Pharmaceutical Industries from $18.00 to $17.00 and set a “market perform” rating for the company in a research report on Thursday, May 9th. Finally, Credit Suisse Group reduced their price objective on shares of Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, May 13th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $84.20.
Marathon Petroleum (NYSE:MPC) last released its earnings results on Wednesday, May 8th. The oil and gas company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.10). Marathon Petroleum had a net margin of 2.56% and a return on equity of 11.10%. The company had revenue of $28.62 billion for the quarter, compared to the consensus estimate of $27.70 billion. During the same period in the prior year, the company earned $0.08 earnings per share. The firm’s revenue was up 50.7% on a year-over-year basis. Equities research analysts predict that Marathon Petroleum Corp will post 4.26 EPS for the current year.
In other Marathon Petroleum news, Director James E. Rohr purchased 12,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were bought at an average cost of $48.14 per share, for a total transaction of $601,750.00. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider Donald C. Templin purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were acquired at an average price of $50.74 per share, for a total transaction of $253,700.00. Following the completion of the purchase, the insider now directly owns 93,182 shares in the company, valued at approximately $4,728,054.68. The disclosure for this purchase can be found here. Corporate insiders own 1.06% of the company’s stock.
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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