Recurrent Investment Advisors LLC Has $44.19 Million Holdings in Marathon Petroleum Corporation $MPC

Key Points

• Recurrent Investment Advisors reduced its Marathon Petroleum stake by 35.7% in the first quarter, selling 100,673 shares and retaining 180,958 shares worth approximately $44.19 million.
• Marathon Petroleum reported a strong quarter, with EPS of $1.65 versus the $0.74 consensus and revenue of $34.20 billion, up 8.5% year over year.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $298.69, while MPC shares recently traded at $306.58 after reaching a 52-week high of $326.92.

Recurrent Investment Advisors LLC lessened its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 35.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 180,958 shares of the oil and gas company's stock after selling 100,673 shares during the period. Marathon Petroleum comprises 2.7% of Recurrent Investment Advisors LLC's holdings, making the stock its 19th biggest holding. Recurrent Investment Advisors LLC owned approximately 0.06% of Marathon Petroleum worth $44,186,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Marathon Petroleum during the 4th quarter valued at approximately $472,312,000. Capital Wealth Planning LLC lifted its stake in Marathon Petroleum by 49,392.0% in the 4th quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company's stock valued at $245,157,000 after purchasing an additional 1,495,097 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Marathon Petroleum by 3,816.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company's stock valued at $212,517,000 after purchasing an additional 1,273,386 shares during the last quarter. GHE LLC boosted its position in Marathon Petroleum by 1,939.8% in the first quarter. GHE LLC now owns 649,542 shares of the oil and gas company's stock valued at $158,605,000 after buying an additional 617,699 shares in the last quarter. Finally, Man Group plc boosted its position in Marathon Petroleum by 2,175.0% in the fourth quarter. Man Group plc now owns 568,790 shares of the oil and gas company's stock valued at $92,502,000 after buying an additional 543,788 shares in the last quarter. Institutional investors own 76.77% of the company's stock.

Marathon Petroleum Trading Down 1.8%

Shares of NYSE MPC opened at $306.58 on Wednesday. The firm has a 50 day moving average price of $270.57 and a two-hundred day moving average price of $234.97. The stock has a market cap of $89.50 billion, a P/E ratio of 20.01, a price-to-earnings-growth ratio of 0.20 and a beta of 0.52. Marathon Petroleum Corporation has a 52-week low of $158.00 and a 52-week high of $326.92. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18.

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

Analyst Ratings Changes

MPC has been the subject of several research analyst reports. Wells Fargo & Company reiterated an "overweight" rating and set a $344.00 price target on shares of Marathon Petroleum in a report on Monday, June 15th. Scotiabank raised their price objective on Marathon Petroleum from $174.00 to $210.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 22nd. Weiss Ratings upgraded Marathon Petroleum from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, July 6th. Zacks Research cut Marathon Petroleum from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 17th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Marathon Petroleum in a research report on Friday, June 12th. Eleven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, Marathon Petroleum presently has a consensus rating of "Moderate Buy" and a consensus target price of $298.69.

Insider Buying and Selling

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the company's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the sale, the vice president owned 16,900 shares in the company, valued at approximately $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 accessible through this link. Insiders own 0.17% of the company's stock.

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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