Marathon Petroleum Corp (NYSE:MPC) Position Reduced by Cadence Capital Management LLC

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Cadence Capital Management LLC cut its position in shares of Marathon Petroleum Corp (NYSE:MPC) by 18.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,687 shares of the oil and gas company’s stock after selling 8,470 shares during the quarter. Cadence Capital Management LLC’s holdings in Marathon Petroleum were worth $1,106,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. IFM Investors Pty Ltd lifted its stake in Marathon Petroleum by 9.3% during the third quarter. IFM Investors Pty Ltd now owns 52,799 shares of the oil and gas company’s stock valued at $1,549,000 after buying an additional 4,473 shares in the last quarter. Sanders Morris Harris LLC lifted its position in shares of Marathon Petroleum by 18.5% in the third quarter. Sanders Morris Harris LLC now owns 150,500 shares of the oil and gas company’s stock worth $4,416,000 after purchasing an additional 23,500 shares in the last quarter. Asio Capital LLC lifted its position in shares of Marathon Petroleum by 53.3% in the third quarter. Asio Capital LLC now owns 58,583 shares of the oil and gas company’s stock worth $1,719,000 after purchasing an additional 20,365 shares in the last quarter. Raymond James Trust N.A. lifted its position in shares of Marathon Petroleum by 2.4% in the third quarter. Raymond James Trust N.A. now owns 131,798 shares of the oil and gas company’s stock worth $3,867,000 after purchasing an additional 3,122 shares in the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV lifted its position in shares of Marathon Petroleum by 11.1% in the third quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 10,519 shares of the oil and gas company’s stock worth $309,000 after purchasing an additional 1,050 shares in the last quarter. 73.27% of the stock is owned by institutional investors.

MPC stock traded down $1.17 during midday trading on Friday, hitting $29.37. 5,030,242 shares of the company traded hands, compared to its average volume of 9,060,769. Marathon Petroleum Corp has a twelve month low of $15.26 and a twelve month high of $69.65. The company has a quick ratio of 0.57, a current ratio of 1.27 and a debt-to-equity ratio of 0.99. The business has a 50 day simple moving average of $31.38 and a 200-day simple moving average of $33.15. The stock has a market capitalization of $19.11 billion, a price-to-earnings ratio of -2.47 and a beta of 2.13.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Monday, August 3rd. The oil and gas company reported ($1.33) EPS for the quarter, beating the consensus estimate of ($1.86) by $0.53. Marathon Petroleum had a positive return on equity of 3.04% and a negative net margin of 7.55%. The company had revenue of $15.20 billion for the quarter, compared to the consensus estimate of $17.49 billion. During the same quarter last year, the company posted $1.73 earnings per share. The company’s revenue for the quarter was down 54.9% compared to the same quarter last year. Equities research analysts forecast that Marathon Petroleum Corp will post -3.53 EPS for the current year.

A number of analysts have recently issued reports on the stock. Piper Sandler reduced their price target on shares of Marathon Petroleum from $46.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, September 9th. ValuEngine raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a research report on Thursday, October 8th. Scotiabank reduced their price target on shares of Marathon Petroleum from $51.00 to $48.00 and set a “sector outperform” rating for the company in a research report on Monday, July 13th. Jefferies Financial Group increased their price target on shares of Marathon Petroleum from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Finally, Mizuho reduced their price target on shares of Marathon Petroleum from $54.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $45.00.

Marathon Petroleum Profile

Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.

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

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