Sawtooth Solutions LLC Takes $661,000 Position in Marathon Petroleum Corp (MPC)

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Sawtooth Solutions LLC purchased a new position in Marathon Petroleum Corp (NYSE:MPC) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 8,264 shares of the oil and gas company’s stock, valued at approximately $661,000.

A number of other large investors have also modified their holdings of MPC. PointState Capital LP acquired a new stake in Marathon Petroleum in the 2nd quarter worth about $378,482,000. Bank of Montreal Can acquired a new stake in Marathon Petroleum in the 2nd quarter worth about $184,334,000. Bank of New York Mellon Corp boosted its stake in Marathon Petroleum by 44.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 7,506,332 shares of the oil and gas company’s stock worth $526,645,000 after buying an additional 2,297,774 shares during the last quarter. Morgan Stanley boosted its stake in Marathon Petroleum by 59.5% in the 2nd quarter. Morgan Stanley now owns 5,798,607 shares of the oil and gas company’s stock worth $406,829,000 after buying an additional 2,162,851 shares during the last quarter. Finally, Third Point LLC boosted its stake in Marathon Petroleum by 55.0% in the 2nd quarter. Third Point LLC now owns 3,100,000 shares of the oil and gas company’s stock worth $217,496,000 after buying an additional 1,100,000 shares during the last quarter. 83.02% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have issued reports on MPC shares. Zacks Investment Research lowered Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Monday, July 16th. Barclays started coverage on Marathon Petroleum in a research note on Wednesday, October 3rd. They issued an “overweight” rating and a $125.00 price target on the stock. Wells Fargo & Co reissued a “buy” rating on shares of Marathon Petroleum in a research note on Monday, August 27th. Royal Bank of Canada reissued a “buy” rating and issued a $87.00 price target on shares of Marathon Petroleum in a research note on Friday, July 27th. Finally, Mizuho started coverage on Marathon Petroleum in a research note on Wednesday, August 1st. They issued a “buy” rating and a $95.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $92.38.

Marathon Petroleum stock opened at $67.23 on Tuesday. The stock has a market capitalization of $31.06 billion, a PE ratio of 17.69, a PEG ratio of 0.97 and a beta of 1.50. The company has a current ratio of 1.60, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. Marathon Petroleum Corp has a 12 month low of $58.25 and a 12 month high of $88.45.

Marathon Petroleum Company 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, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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