Marathon Petroleum Corp (MPC) Shares Sold by Miller Howard Investments Inc. NY

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Miller Howard Investments Inc. NY trimmed its holdings in Marathon Petroleum Corp (NYSE:MPC) by 89.6% during the third quarter, Holdings Channel reports. The institutional investor owned 13,550 shares of the oil and gas company’s stock after selling 116,418 shares during the period. Miller Howard Investments Inc. NY’s holdings in Marathon Petroleum were worth $1,084,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Legacy Financial Advisors Inc. acquired a new stake in Marathon Petroleum in the 2nd quarter worth about $113,000. Northwest Wealth Management LLC purchased a new position in shares of Marathon Petroleum in the 2nd quarter worth about $116,000. NEXT Financial Group Inc purchased a new position in shares of Marathon Petroleum in the 3rd quarter worth about $124,000. Norway Savings Bank purchased a new position in shares of Marathon Petroleum in the 2nd quarter worth about $126,000. Finally, Destination Wealth Management purchased a new position in shares of Marathon Petroleum in the 2nd quarter worth about $144,000. 83.02% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:MPC opened at $68.80 on Wednesday. The stock has a market cap of $31.06 billion, a P/E ratio of 18.11, a P/E/G ratio of 0.95 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 one year low of $58.83 and a one year high of $88.45.

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

About Marathon Petroleum

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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