Polaris Greystone Financial Group LLC increased its position in shares of Marathon Petroleum Corp (NYSE:MPC) by 40,590.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 310,062 shares of the oil and gas company’s stock after acquiring an additional 309,300 shares during the quarter. Marathon Petroleum makes up about 1.7% of Polaris Greystone Financial Group LLC’s portfolio, making the stock its 25th biggest holding. Polaris Greystone Financial Group LLC owned approximately 0.07% of Marathon Petroleum worth $24,796,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in shares of Marathon Petroleum by 44.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,506,332 shares of the oil and gas company’s stock valued at $526,645,000 after acquiring an additional 2,297,774 shares during the last quarter. Morgan Stanley boosted its position in shares of Marathon Petroleum by 59.5% during the 2nd quarter. Morgan Stanley now owns 5,798,607 shares of the oil and gas company’s stock valued at $406,829,000 after acquiring an additional 2,162,851 shares during the last quarter. PointState Capital LP acquired a new position in shares of Marathon Petroleum during the 2nd quarter valued at about $378,482,000. LSV Asset Management boosted its position in shares of Marathon Petroleum by 2.4% during the 2nd quarter. LSV Asset Management now owns 4,426,500 shares of the oil and gas company’s stock valued at $310,563,000 after acquiring an additional 102,276 shares during the last quarter. Finally, Iridian Asset Management LLC CT boosted its position in shares of Marathon Petroleum by 4.7% during the 2nd quarter. Iridian Asset Management LLC CT now owns 3,681,964 shares of the oil and gas company’s stock valued at $258,327,000 after acquiring an additional 164,278 shares during the last quarter. 82.82% of the stock is currently owned by hedge funds and other institutional investors.

NYSE MPC traded down $4.14 during trading hours on Friday, reaching $74.68. The company had a trading volume of 463,089 shares, compared to its average volume of 9,170,185. Marathon Petroleum Corp has a 1-year low of $55.87 and a 1-year high of $88.45. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.60 and a quick ratio of 1.04. The stock has a market capitalization of $35.70 billion, a P/E ratio of 19.65, a PEG ratio of 1.33 and a beta of 1.50.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Thursday, July 26th. The oil and gas company reported $2.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.98 by $0.29. The company had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.14 billion. Marathon Petroleum had a net margin of 4.89% and a return on equity of 12.83%. The business’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.93 earnings per share. As a group, analysts anticipate that Marathon Petroleum Corp will post 5.02 EPS for the current year.

Several research analysts have recently weighed in on the stock. Citigroup boosted their price target on shares of Marathon Petroleum from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, September 7th. Tudor Pickering raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Morgan Stanley set a $110.00 price target on shares of Marathon Petroleum and gave the company a “buy” rating in a research report on Friday, October 12th. Zacks Investment Research cut shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Tuesday, September 11th. Finally, JPMorgan Chase & Co. upped their target price on shares of Marathon Petroleum from $98.00 to $102.00 and gave the company an “overweight” rating in a research report on Friday, July 27th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $92.38.

Marathon Petroleum Profile

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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