Gateway Investment Advisers LLC lowered its position in shares of Marathon Petroleum Corp (NYSE:MPC) by 3.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 22,966 shares of the oil and gas company’s stock after selling 927 shares during the period. Gateway Investment Advisers LLC’s holdings in Marathon Petroleum were worth $1,837,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Bank of New York Mellon Corp lifted its holdings in shares of Marathon Petroleum by 44.1% in the second quarter. Bank of New York Mellon Corp now owns 7,506,332 shares of the oil and gas company’s stock worth $526,645,000 after buying an additional 2,297,774 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Marathon Petroleum by 59.5% in the second quarter. Morgan Stanley now owns 5,798,607 shares of the oil and gas company’s stock worth $406,829,000 after buying an additional 2,162,851 shares in the last quarter. PointState Capital LP purchased a new position in shares of Marathon Petroleum in the second quarter worth $378,482,000. LSV Asset Management lifted its holdings in shares of Marathon Petroleum by 2.4% in the second quarter. LSV Asset Management now owns 4,426,500 shares of the oil and gas company’s stock worth $310,563,000 after buying an additional 102,276 shares in the last quarter. Finally, Iridian Asset Management LLC CT lifted its holdings in shares of Marathon Petroleum by 4.7% in the second quarter. Iridian Asset Management LLC CT now owns 3,681,964 shares of the oil and gas company’s stock worth $258,327,000 after buying an additional 164,278 shares in the last quarter. 82.82% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently commented on MPC shares. Zacks Investment Research raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a report on Monday, August 27th. Morgan Stanley set a $110.00 target price on shares of Marathon Petroleum and gave the stock a “buy” rating in a report on Friday, October 12th. Barclays started coverage on shares of Marathon Petroleum in a report on Wednesday, October 3rd. They issued an “overweight” rating and a $125.00 target price on the stock. Citigroup boosted their target price on shares of Marathon Petroleum from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Tudor Pickering raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $92.38.

Marathon Petroleum stock opened at $73.92 on Friday. The firm has a market cap of $35.70 billion, a P/E ratio of 19.46, a price-to-earnings-growth ratio of 1.33 and a beta of 1.50. The company has a current ratio of 1.60, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. Marathon Petroleum Corp has a 52-week low of $55.87 and a 52-week high of $88.45.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Thursday, July 26th. The oil and gas company reported $2.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.98 by $0.29. The company had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.14 billion. Marathon Petroleum had a net margin of 4.89% and a return on equity of 12.83%. Marathon Petroleum’s revenue was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.93 earnings per share. On average, equities research analysts predict that Marathon Petroleum Corp will post 5.02 earnings per share for the current fiscal year.

Marathon Petroleum Company 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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