Spirit of America Management Corp NY reduced its holdings in Marathon Petroleum Corp (NYSE:MPC) by 14.9% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 188,336 shares of the oil and gas company’s stock after selling 32,900 shares during the period. Marathon Petroleum accounts for approximately 1.6% of Spirit of America Management Corp NY’s portfolio, making the stock its 18th largest position. Spirit of America Management Corp NY’s holdings in Marathon Petroleum were worth $11,271,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. increased its position in shares of Marathon Petroleum by 36.6% during the fourth quarter. BlackRock Inc. now owns 54,581,132 shares of the oil and gas company’s stock valued at $3,220,832,000 after purchasing an additional 14,619,755 shares during the period. Vanguard Group Inc. increased its position in shares of Marathon Petroleum by 0.7% during the third quarter. Vanguard Group Inc. now owns 35,373,004 shares of the oil and gas company’s stock valued at $2,828,779,000 after purchasing an additional 255,599 shares during the period. Vanguard Group Inc increased its position in shares of Marathon Petroleum by 0.7% during the third quarter. Vanguard Group Inc now owns 35,373,004 shares of the oil and gas company’s stock valued at $2,828,779,000 after purchasing an additional 255,599 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Marathon Petroleum by 9,095.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,042,197 shares of the oil and gas company’s stock valued at $238,000 after purchasing an additional 13,889,489 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Marathon Petroleum by 42.6% during the fourth quarter. Bank of New York Mellon Corp now owns 12,418,710 shares of the oil and gas company’s stock valued at $732,828,000 after purchasing an additional 3,708,740 shares during the period. 79.25% of the stock is currently owned by institutional investors.
MPC stock traded up $0.63 during trading on Wednesday, hitting $60.65. The company had a trading volume of 2,001,483 shares, compared to its average volume of 6,571,474. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.36 and a quick ratio of 0.62. The firm has a market cap of $40.43 billion, a price-to-earnings ratio of 8.95, a P/E/G ratio of 1.28 and a beta of 1.37. Marathon Petroleum Corp has a fifty-two week low of $54.29 and a fifty-two week high of $88.45.
MPC has been the topic of several recent analyst reports. Morgan Stanley decreased their price target on Marathon Petroleum from $85.00 to $82.00 and set an “overweight” rating on the stock in a research note on Monday. ValuEngine lowered Marathon Petroleum from a “hold” rating to a “sell” rating in a research note on Tuesday, March 5th. Citigroup decreased their price target on Marathon Petroleum from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. Standpoint Research initiated coverage on Marathon Petroleum in a research note on Wednesday, December 26th. They issued an “accumulate” rating on the stock. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating on shares of Marathon Petroleum in a research note on Thursday, January 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Marathon Petroleum presently has a consensus rating of “Buy” and a consensus price target of $91.24.
In other Marathon Petroleum news, CEO Gary R. Heminger sold 187,142 shares of the business’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $65.00, for a total value of $12,164,230.00. Following the transaction, the chief executive officer now owns 434,166 shares of the company’s stock, valued at $28,220,790. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.06% of the stock is currently owned by insiders.
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Marathon Petroleum Profile
Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Retail, and Midstream. The Refining & Marketing segment refines crude oil and other feed stocks at its 16 refineries in the West Coast, Gulf Coast, and Mid-Continent regions of the United States; and purchases refined products and ethanol for resale.
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