Bank of New York Mellon Corp Sells 470,493 Shares of Marathon Petroleum Corporation $MPC

Bank of New York Mellon Corp lessened its holdings in Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 8.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,148,905 shares of the oil and gas company’s stock after selling 470,493 shares during the quarter. Bank of New York Mellon Corp owned 1.69% of Marathon Petroleum worth $992,400,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Marathon Petroleum by 11.2% during the second quarter. Vanguard Group Inc. now owns 38,866,104 shares of the oil and gas company’s stock valued at $6,456,049,000 after buying an additional 3,924,713 shares during the period. Geode Capital Management LLC raised its position in shares of Marathon Petroleum by 14.8% in the 2nd quarter. Geode Capital Management LLC now owns 8,013,213 shares of the oil and gas company’s stock worth $1,325,598,000 after acquiring an additional 1,033,645 shares in the last quarter. Boston Partners lifted its stake in shares of Marathon Petroleum by 13.1% in the 2nd quarter. Boston Partners now owns 6,163,737 shares of the oil and gas company’s stock valued at $1,024,395,000 after purchasing an additional 715,223 shares during the period. Norges Bank bought a new stake in shares of Marathon Petroleum during the second quarter valued at approximately $527,197,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Marathon Petroleum by 5.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,719,768 shares of the oil and gas company’s stock worth $451,781,000 after purchasing an additional 128,691 shares during the period. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $171.78 on Wednesday. The company has a market capitalization of $51.64 billion, a P/E ratio of 18.31, a P/E/G ratio of 0.75 and a beta of 0.74. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $202.29. The firm’s 50 day simple moving average is $178.62 and its two-hundred day simple moving average is $180.59. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79.

Marathon Petroleum (NYSE:MPC — Get Free Report) last announced its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $3.01 EPS for the quarter, beating the consensus estimate of $3.00 by $0.01. The firm had revenue of $34.81 billion for the quarter, compared to the consensus estimate of $31.06 billion. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. Research analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MPC. Wells Fargo & Company dropped their target price on shares of Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Mizuho increased their price objective on shares of Marathon Petroleum from $198.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, January 13th. Zacks Research downgraded Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Scotiabank restated an “outperform” rating and set a $174.00 target price on shares of Marathon Petroleum in a research note on Friday, January 16th. Finally, BMO Capital Markets dropped their target price on shares of Marathon Petroleum from $208.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, January 12th. Nine investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Hold” and a consensus price target of $196.67.

Check Out Our Latest Analysis on Marathon Petroleum

About Marathon Petroleum

(Free Report)

Marathon Petroleum Corporation NYSE: MPC is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.

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