Marathon Petroleum Corporation (MPC) Shares Bought by Cetera Investment Advisers

Cetera Investment Advisers increased its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 13.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,693 shares of the oil and gas company’s stock after acquiring an additional 1,157 shares during the period. Cetera Investment Advisers’ holdings in Marathon Petroleum Corporation were worth $504,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Guardian Life Insurance Co. of America raised its holdings in shares of Marathon Petroleum Corporation by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 2,036 shares of the oil and gas company’s stock worth $103,000 after acquiring an additional 14 shares during the period. Accurate Investment Solutions Inc. raised its holdings in shares of Marathon Petroleum Corporation by 0.4% during the second quarter. Accurate Investment Solutions Inc. now owns 3,982 shares of the oil and gas company’s stock worth $208,000 after acquiring an additional 14 shares during the period. Capital Investment Advisors LLC raised its holdings in shares of Marathon Petroleum Corporation by 0.3% during the second quarter. Capital Investment Advisors LLC now owns 6,420 shares of the oil and gas company’s stock worth $336,000 after acquiring an additional 19 shares during the period. Good Life Advisors LLC raised its holdings in shares of Marathon Petroleum Corporation by 0.5% during the second quarter. Good Life Advisors LLC now owns 6,708 shares of the oil and gas company’s stock worth $363,000 after acquiring an additional 35 shares during the period. Finally, Parallel Advisors LLC raised its holdings in shares of Marathon Petroleum Corporation by 0.6% during the second quarter. Parallel Advisors LLC now owns 6,339 shares of the oil and gas company’s stock worth $355,000 after acquiring an additional 36 shares during the period. Institutional investors and hedge funds own 78.24% of the company’s stock.

Marathon Petroleum Corporation (MPC) opened at 56.50 on Thursday. The company has a market cap of $28.60 billion, a P/E ratio of 33.69 and a beta of 1.56. The stock has a 50 day moving average of $54.73 and a 200-day moving average of $52.98. Marathon Petroleum Corporation has a 12 month low of $40.01 and a 12 month high of $57.02.

Marathon Petroleum Corporation (NYSE:MPC) last announced its earnings results on Thursday, July 27th. The oil and gas company reported $1.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.01). The firm had revenue of $18.35 billion during the quarter, compared to analysts’ expectations of $19.98 billion. Marathon Petroleum Corporation had a net margin of 1.34% and a return on equity of 5.52%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.07 EPS. Equities research analysts expect that Marathon Petroleum Corporation will post $3.16 EPS for the current year.

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In other news, VP C. Michael Palmer sold 11,450 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.02, for a total value of $607,079.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.05% of the company’s stock.

A number of equities research analysts recently commented on MPC shares. Cowen and Company restated a “buy” rating and set a $60.00 price objective on shares of Marathon Petroleum Corporation in a report on Tuesday. BidaskClub lowered shares of Marathon Petroleum Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Scotiabank restated a “hold” rating and set a $55.00 price objective on shares of Marathon Petroleum Corporation in a report on Friday, September 1st. Citigroup Inc. raised their price objective on shares of Marathon Petroleum Corporation from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Zacks Investment Research lowered shares of Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Seven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Marathon Petroleum Corporation has a consensus rating of “Buy” and a consensus target price of $60.63.

About Marathon Petroleum Corporation

Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.

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

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