Cornerstone Financial Partners LLC cut its holdings in shares of Marathon Petroleum Corp (NYSE:MPC) by 3.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 56,699 shares of the oil and gas company’s stock after selling 2,184 shares during the period. Marathon Petroleum accounts for approximately 1.2% of Cornerstone Financial Partners LLC’s portfolio, making the stock its 26th largest position. Cornerstone Financial Partners LLC’s holdings in Marathon Petroleum were worth $3,741,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of MPC. Thrivent Financial For Lutherans raised its holdings in Marathon Petroleum by 1.4% during the second quarter. Thrivent Financial For Lutherans now owns 19,748 shares of the oil and gas company’s stock valued at $1,033,000 after acquiring an additional 280 shares during the period. Van ECK Associates Corp raised its holdings in Marathon Petroleum by 31.6% during the second quarter. Van ECK Associates Corp now owns 5,600 shares of the oil and gas company’s stock valued at $293,000 after acquiring an additional 1,344 shares during the period. GSA Capital Partners LLP raised its holdings in Marathon Petroleum by 93.2% during the second quarter. GSA Capital Partners LLP now owns 11,397 shares of the oil and gas company’s stock valued at $596,000 after acquiring an additional 5,497 shares during the period. D.A. Davidson & CO. raised its holdings in Marathon Petroleum by 77.6% during the second quarter. D.A. Davidson & CO. now owns 12,061 shares of the oil and gas company’s stock valued at $631,000 after acquiring an additional 5,269 shares during the period. Finally, ETRADE Capital Management LLC raised its holdings in Marathon Petroleum by 15.1% during the second quarter. ETRADE Capital Management LLC now owns 9,253 shares of the oil and gas company’s stock valued at $484,000 after acquiring an additional 1,216 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Shares of Marathon Petroleum Corp (NYSE:MPC) traded up $0.40 during mid-day trading on Monday, hitting $71.89. The stock had a trading volume of 3,894,300 shares, compared to its average volume of 3,384,577. Marathon Petroleum Corp has a 1 year low of $46.88 and a 1 year high of $72.52. The company has a quick ratio of 0.80, a current ratio of 1.52 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $35,660.00, a PE ratio of 22.47, a price-to-earnings-growth ratio of 1.48 and a beta of 1.62.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Thursday, October 26th. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.29. Marathon Petroleum had a return on equity of 8.52% and a net margin of 2.35%. The firm had revenue of $19.36 billion for the quarter, compared to analysts’ expectations of $19.38 billion. During the same period in the previous year, the firm posted $0.58 earnings per share. The business’s revenue was up 17.6% compared to the same quarter last year. research analysts forecast that Marathon Petroleum Corp will post 3.76 EPS for the current fiscal year.

In other Marathon Petroleum news, VP C. Michael Palmer sold 17,298 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $64.55, for a total transaction of $1,116,585.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Anthony R. Kenney sold 77,578 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $62.35, for a total value of $4,836,988.30. The disclosure for this sale can be found here. Insiders sold 149,854 shares of company stock worth $9,482,177 over the last ninety days. Insiders own 1.05% of the company’s stock.

MPC has been the topic of a number of recent analyst reports. Citigroup raised their price target on Marathon Petroleum from $67.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. Barclays raised their price target on Marathon Petroleum from $63.00 to $76.00 and gave the company an “overweight” rating in a report on Tuesday, November 14th. UBS Group cut Marathon Petroleum from a “buy” rating to a “neutral” rating and raised their price target for the company from $63.00 to $65.00 in a report on Sunday, November 26th. Cowen reissued a “buy” rating and set a $60.00 price target on shares of Marathon Petroleum in a report on Tuesday, October 17th. Finally, Zacks Investment Research raised Marathon Petroleum from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a report on Friday, November 10th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $70.33.

WARNING: “Marathon Petroleum Corp (MPC) Holdings Reduced by Cornerstone Financial Partners LLC” was published by Watch List News and is the sole property of of Watch List News. If you are reading this article on another publication, it was stolen and reposted in violation of United States & international copyright laws. The correct version of this article can be viewed at https://www.watchlistnews.com/marathon-petroleum-corp-mpc-holdings-reduced-by-cornerstone-financial-partners-llc/1818357.html.

About Marathon Petroleum

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.

Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corp (NYSE:MPC).

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

Receive News & Ratings for Marathon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.