Marathon Petroleum Co. (NYSE:MPC) Shares Sold by InterOcean Capital Group LLC

InterOcean Capital Group LLC lowered its stake in Marathon Petroleum Co. (NYSE:MPC) by 18.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,759 shares of the oil and gas company’s stock after selling 832 shares during the quarter. InterOcean Capital Group LLC’s holdings in Marathon Petroleum were worth $757,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of MPC. Dimensional Fund Advisors LP grew its position in shares of Marathon Petroleum by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,153,636 shares of the oil and gas company’s stock worth $764,526,000 after acquiring an additional 137,341 shares in the last quarter. Raymond James & Associates grew its position in shares of Marathon Petroleum by 1.9% in the 1st quarter. Raymond James & Associates now owns 4,178,977 shares of the oil and gas company’s stock worth $842,064,000 after acquiring an additional 76,920 shares in the last quarter. Norges Bank bought a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $500,685,000. Acadian Asset Management LLC lifted its holdings in shares of Marathon Petroleum by 7.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,663,835 shares of the oil and gas company’s stock worth $335,241,000 after purchasing an additional 117,790 shares during the last quarter. Finally, Capital Wealth Planning LLC lifted its holdings in shares of Marathon Petroleum by 10,902.9% in the 1st quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock worth $223,792,000 after purchasing an additional 1,100,536 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on MPC shares. StockNews.com downgraded Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Tudor Pickering raised Marathon Petroleum to a “strong-buy” rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. cut their target price on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Mizuho cut their target price on Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. Finally, Wells Fargo & Company cut their target price on Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $193.64.

Marathon Petroleum Price Performance

Shares of NYSE MPC traded up $4.04 during mid-day trading on Thursday, reaching $171.59. The company had a trading volume of 2,366,465 shares, compared to its average volume of 2,684,894. The company has a current ratio of 1.43, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. The stock has a market cap of $60.46 billion, a PE ratio of 8.51, a P/E/G ratio of 1.97 and a beta of 1.40. The company has a 50-day moving average price of $172.01 and a two-hundred day moving average price of $177.84. Marathon Petroleum Co. has a 1-year low of $127.71 and a 1-year high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.25. The business had revenue of $32.71 billion for the quarter, compared to analysts’ expectations of $32.07 billion. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The company’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted $6.09 EPS. On average, equities analysts anticipate that Marathon Petroleum Co. will post 13.84 earnings per share for the current year.

Marathon Petroleum announced that its Board of Directors has initiated a stock buyback plan on Tuesday, April 30th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas company to repurchase up to 7.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

About Marathon Petroleum

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.