Marathon Petroleum Corporation (NYSE:MPC) Shares Acquired by Applied Finance Capital Management LLC

Key Points

• Applied Finance Capital Management LLC increased its holdings in Marathon Petroleum by 14.4%, owning 14,239 shares valued at about $2.07 million.
• Marathon Petroleum reported a quarterly revenue of $31.85 billion, surpassing the consensus estimate of $28.91 billion, despite a 4.1% decline compared to the previous year.
• Several research analysts have recently updated their price targets for Marathon Petroleum, with UBS Group increasing their target from $175.00 to $203.00 and giving the stock a "buy" rating.

Applied Finance Capital Management LLC raised its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 14.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,239 shares of the oil and gas company's stock after buying an additional 1,796 shares during the period. Applied Finance Capital Management LLC's holdings in Marathon Petroleum were worth $2,074,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Stevens Capital Management LP boosted its position in shares of Marathon Petroleum by 77.9% during the first quarter. Stevens Capital Management LP now owns 6,031 shares of the oil and gas company's stock valued at $879,000 after buying an additional 2,640 shares during the period. Caliber Wealth Management LLC KS purchased a new position in shares of Marathon Petroleum during the first quarter valued at approximately $3,347,000. Trilogy Capital Inc. purchased a new stake in shares of Marathon Petroleum in the first quarter valued at approximately $249,000. Avantax Advisory Services Inc. grew its stake in Marathon Petroleum by 7.4% in the first quarter. Avantax Advisory Services Inc. now owns 18,781 shares of the oil and gas company's stock worth $2,736,000 after purchasing an additional 1,286 shares in the last quarter. Finally, Journey Strategic Wealth LLC grew its stake in Marathon Petroleum by 105.0% in the first quarter. Journey Strategic Wealth LLC now owns 8,582 shares of the oil and gas company's stock worth $1,250,000 after purchasing an additional 4,396 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company's stock.

Marathon Petroleum Stock Performance

Shares of MPC stock traded down $2.91 on Wednesday, hitting $172.52. The company had a trading volume of 476,628 shares, compared to its average volume of 2,716,217. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $183.31. The company has a quick ratio of 0.73, a current ratio of 1.19 and a debt-to-equity ratio of 1.16. The firm has a market cap of $53.00 billion, a P/E ratio of 24.24, a price-to-earnings-growth ratio of 2.98 and a beta of 0.88. The company has a 50-day moving average price of $168.18 and a 200-day moving average price of $152.87.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.40) by $0.16. The company had revenue of $31.85 billion during the quarter, compared to the consensus estimate of $28.91 billion. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. Marathon Petroleum's revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.58 earnings per share. As a group, equities research analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MPC has been the topic of a number of recent research reports. Scotiabank reissued an "outperform" rating on shares of Marathon Petroleum in a research report on Friday, July 11th. Barclays raised their target price on shares of Marathon Petroleum from $159.00 to $189.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. TD Cowen increased their price objective on shares of Marathon Petroleum from $152.00 to $163.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Wall Street Zen raised shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $200.00 target price (up previously from $180.00) on shares of Marathon Petroleum in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $183.93.

Insiders Place Their Bets

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total value of $1,293,600.00. Following the sale, the director directly owned 18,944 shares of the company's stock, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.25% of the company's stock.

Marathon Petroleum Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.