Summit Global Investments Makes New $886,000 Investment in Marathon Petroleum Corporation $MPC

Summit Global Investments bought a new position in Marathon Petroleum Corporation (NYSE:MPC) during the third quarter, HoldingsChannel reports. The firm bought 4,597 shares of the oil and gas company’s stock, valued at approximately $886,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Concord Asset Management LLC VA purchased a new stake in shares of Marathon Petroleum during the 2nd quarter valued at $412,000. Los Angeles Capital Management LLC grew its position in Marathon Petroleum by 459.5% during the second quarter. Los Angeles Capital Management LLC now owns 189,973 shares of the oil and gas company’s stock valued at $31,556,000 after buying an additional 156,019 shares during the period. FSM Wealth Advisors LLC purchased a new stake in Marathon Petroleum during the second quarter worth about $685,000. Generali Asset Management SPA SGR raised its position in Marathon Petroleum by 36.8% in the third quarter. Generali Asset Management SPA SGR now owns 41,225 shares of the oil and gas company’s stock worth $7,946,000 after acquiring an additional 11,082 shares during the period. Finally, First Interstate Bank purchased a new position in Marathon Petroleum in the third quarter valued at about $5,050,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Up 0.2%

MPC opened at $176.06 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $202.29. The firm has a market capitalization of $52.92 billion, a P/E ratio of 18.77, a price-to-earnings-growth ratio of 1.80 and a beta of 0.74. The company has a fifty day moving average price of $177.62 and a 200-day moving average price of $180.50.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 EPS for the quarter, topping the consensus estimate of $3.00 by $0.01. The business had revenue of $34.81 billion during the quarter, compared to analysts’ expectations of $31.06 billion. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%. Equities research analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Piper Sandler lowered their price target on shares of Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Wells Fargo & Company decreased their target price on Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marathon Petroleum in a research report on Thursday, January 22nd. The Goldman Sachs Group decreased their price objective on Marathon Petroleum from $206.00 to $204.00 and set a “buy” rating for the company in a report on Thursday, January 22nd. Finally, Mizuho boosted their price target on shares of Marathon Petroleum from $198.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, January 13th. 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 MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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.