First Hawaiian Bank grew its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 10.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 56,117 shares of the oil and gas company’s stock after acquiring an additional 5,218 shares during the period. First Hawaiian Bank’s holdings in Marathon Petroleum were worth $3,311,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in MPC. Csenge Advisory Group bought a new stake in shares of Marathon Petroleum during the third quarter valued at about $82,000. Rational Advisors LLC increased its position in shares of Marathon Petroleum by 282.4% during the third quarter. Rational Advisors LLC now owns 1,480 shares of the oil and gas company’s stock valued at $118,000 after buying an additional 1,093 shares during the period. NEXT Financial Group Inc bought a new stake in shares of Marathon Petroleum during the third quarter valued at about $124,000. Columbia Asset Management bought a new stake in shares of Marathon Petroleum during the third quarter valued at about $156,000. Finally, Belpointe Asset Management LLC bought a new stake in shares of Marathon Petroleum during the third quarter valued at about $164,000. Hedge funds and other institutional investors own 83.16% of the company’s stock.
Shares of MPC opened at $63.63 on Friday. The company has a market capitalization of $44.37 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 0.57 and a beta of 1.35. The company has a quick ratio of 1.09, a current ratio of 1.65 and a debt-to-equity ratio of 0.97. Marathon Petroleum Corp has a 1 year low of $54.29 and a 1 year high of $88.45.
Marathon Petroleum (NYSE:MPC) last issued its earnings results on Thursday, November 1st. The oil and gas company reported $1.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.02. The business had revenue of $23.13 billion during the quarter, compared to analyst estimates of $23.20 billion. Marathon Petroleum had a return on equity of 12.28% and a net margin of 4.48%. Marathon Petroleum’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.77 earnings per share. Sell-side analysts anticipate that Marathon Petroleum Corp will post 5.13 earnings per share for the current fiscal year.
In other news, Director Steven A. Davis bought 2,500 shares of the business’s stock in a transaction on Monday, November 19th. The stock was acquired at an average price of $62.20 per share, with a total value of $155,500.00. Following the completion of the purchase, the director now directly owns 16,462 shares in the company, valued at $1,023,936.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.09% of the stock is owned by corporate insiders.
MPC has been the topic of several analyst reports. Standpoint Research initiated coverage on Marathon Petroleum in a research report on Wednesday, December 26th. They set an “accumulate” rating on the stock. Citigroup boosted their price objective on Marathon Petroleum from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, October 16th. Morgan Stanley set a $110.00 price objective on Marathon Petroleum and gave the stock a “buy” rating in a report on Friday, October 12th. Tudor Pickering raised Marathon Petroleum from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. Finally, Zacks Investment Research raised Marathon Petroleum from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a report on Tuesday, October 9th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $94.21.
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, Speedway 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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