Encore Global Management LP Acquires New Stake in Marathon Petroleum Corporation $MPC

Key Points

• Encore Global Management LP acquired 8,750 Marathon Petroleum shares worth approximately $2.14 million during the first quarter, making MPC 1.5% of the fund’s portfolio. Institutional investors collectively own 76.77% of the company.
• Marathon Petroleum reported first-quarter EPS of $1.65, exceeding estimates of $0.74, while revenue rose 8.5% year over year to $34.20 billion.
• MPC shares opened at $306.58, near their 12-month high of $326.92. Analysts maintain a “Moderate Buy” consensus, with an average price target of $298.69.

Encore Global Management LP acquired a new stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,750 shares of the oil and gas company's stock, valued at approximately $2,137,000. Marathon Petroleum accounts for approximately 1.5% of Encore Global Management LP's holdings, making the stock its 28th biggest holding.

A number of other large investors also recently bought and sold shares of MPC. Equitable Trust Co. increased its stake in shares of Marathon Petroleum by 1.6% during the first quarter. Equitable Trust Co. now owns 2,637 shares of the oil and gas company's stock worth $644,000 after acquiring an additional 42 shares during the period. Bartlett & CO. Wealth Management LLC lifted its position in Marathon Petroleum by 0.4% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 9,548 shares of the oil and gas company's stock valued at $2,411,000 after purchasing an additional 42 shares during the period. Hunter Associates Investment Management LLC boosted its holdings in Marathon Petroleum by 1.6% in the 1st quarter. Hunter Associates Investment Management LLC now owns 3,220 shares of the oil and gas company's stock valued at $786,000 after purchasing an additional 50 shares in the last quarter. Creative Financial Designs Inc. ADV increased its position in Marathon Petroleum by 2.6% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 2,050 shares of the oil and gas company's stock worth $333,000 after purchasing an additional 51 shares during the period. Finally, IFG Advisory LLC raised its stake in shares of Marathon Petroleum by 1.5% during the 4th quarter. IFG Advisory LLC now owns 3,429 shares of the oil and gas company's stock worth $558,000 after buying an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company's stock.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $306.58 on Wednesday. The firm has a market capitalization of $89.50 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 0.20 and a beta of 0.52. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73. The business's 50 day simple moving average is $270.57 and its 200-day simple moving average is $234.97. Marathon Petroleum Corporation has a 12 month low of $158.00 and a 12 month high of $326.92.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.91. The firm had revenue of $34.20 billion during the quarter, compared to the consensus estimate of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.Marathon Petroleum's quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the business posted ($0.24) EPS. As a group, equities analysts forecast that Marathon Petroleum Corporation will post 43.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on MPC. Raymond James Financial raised their price target on Marathon Petroleum from $300.00 to $335.00 and gave the company an "outperform" rating in a report on Monday, July 13th. BMO Capital Markets reiterated an "outperform" rating on shares of Marathon Petroleum in a research report on Friday, June 12th. Barclays raised their target price on Marathon Petroleum from $270.00 to $289.00 and gave the company an "overweight" rating in a report on Monday, July 13th. Wall Street Zen upgraded shares of Marathon Petroleum from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 10th. Finally, Jefferies Financial Group set a $335.00 price target on shares of Marathon Petroleum and gave the company a "buy" rating in a report on Sunday, July 12th. Eleven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Marathon Petroleum currently has a consensus rating of "Moderate Buy" and an average price target of $298.69.

Insider Buying and Selling at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the transaction, the vice president owned 16,900 shares of the company's stock, valued at $4,543,058. The trade was a 27.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

Marathon Petroleum Company Profile

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.

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