Bank of New York Mellon Corp Cuts Stock Holdings in Marathon Petroleum Corporation $MPC

Bank of New York Mellon Corp decreased its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 8.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,148,905 shares of the oil and gas company’s stock after selling 470,493 shares during the period. Bank of New York Mellon Corp’s holdings in Marathon Petroleum were worth $992,400,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Marathon Petroleum by 11.2% in the 2nd quarter. Vanguard Group Inc. now owns 38,866,104 shares of the oil and gas company’s stock worth $6,456,049,000 after buying an additional 3,924,713 shares during the last quarter. Norges Bank bought a new position in Marathon Petroleum in the 2nd quarter valued at $527,197,000. Geode Capital Management LLC increased its stake in Marathon Petroleum by 14.8% in the 2nd quarter. Geode Capital Management LLC now owns 8,013,213 shares of the oil and gas company’s stock worth $1,325,598,000 after buying an additional 1,033,645 shares during the period. Boston Partners increased its position in shares of Marathon Petroleum by 13.1% during the second quarter. Boston Partners now owns 6,163,737 shares of the oil and gas company’s stock worth $1,024,395,000 after acquiring an additional 715,223 shares during the period. Finally, Balyasny Asset Management L.P. raised its position in Marathon Petroleum by 27,979.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 659,595 shares of the oil and gas company’s stock valued at $109,565,000 after purchasing an additional 657,246 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

MPC opened at $171.78 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $202.29. The firm has a 50 day moving average of $178.62 and a two-hundred day moving average of $180.59. The firm has a market capitalization of $51.64 billion, a PE ratio of 18.31, a P/E/G ratio of 0.75 and a beta of 0.74.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.01. The firm had revenue of $34.81 billion for the quarter, compared to analyst estimates of $31.06 billion. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. On average, analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group reduced their price target on shares of Marathon Petroleum from $206.00 to $204.00 and set a “buy” rating for the company in a report on Thursday, January 22nd. Wall Street Zen lowered shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Zacks Research downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. BMO Capital Markets cut their price target on shares of Marathon Petroleum from $208.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, January 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Marathon Petroleum in a report on Thursday, January 22nd. Nine investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $196.67.

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.