Townsquare Capital LLC Cuts Holdings in Marathon Petroleum Corporation $MPC

Townsquare Capital LLC reduced its stake in Marathon Petroleum Corporation (NYSE:MPC) by 44.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,112 shares of the oil and gas company’s stock after selling 3,342 shares during the period. Townsquare Capital LLC’s holdings in Marathon Petroleum were worth $793,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in 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 worth $6,456,049,000 after purchasing an additional 3,924,713 shares in the last quarter. Norges Bank acquired a new stake in Marathon Petroleum in the 2nd quarter valued at about $527,197,000. Geode Capital Management LLC grew its position in shares of Marathon Petroleum by 14.8% in the second quarter. Geode Capital Management LLC now owns 8,013,213 shares of the oil and gas company’s stock valued at $1,325,598,000 after purchasing an additional 1,033,645 shares during the last quarter. Boston Partners grew its holdings in Marathon Petroleum by 13.1% during 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 buying an additional 715,223 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in shares of Marathon Petroleum by 27,979.8% in the second quarter. Balyasny Asset Management L.P. now owns 659,595 shares of the oil and gas company’s stock valued at $109,565,000 after acquiring an additional 657,246 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MPC shares. Morgan Stanley lifted their target price on Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. Wall Street Zen cut Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Scotiabank restated an “outperform” rating and issued a $174.00 price target on shares of Marathon Petroleum in a report on Friday, January 16th. Zacks Research lowered shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. Finally, Citigroup dropped their price objective on Marathon Petroleum from $185.00 to $182.00 and set a “neutral” rating on the stock in a report on Wednesday, January 14th. Nine research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $196.67.

Marathon Petroleum Trading Up 0.2%

Shares of MPC opened at $176.06 on Friday. The business’s 50-day moving average price is $177.62 and its 200 day moving average price is $180.50. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $52.92 billion, a P/E ratio of 18.77, a P/E/G ratio of 1.80 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.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.01. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%.The firm had revenue of $34.81 billion for the quarter, compared to analyst estimates of $31.06 billion. Analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

About Marathon Petroleum

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.