Biltmore Wealth Management LLC Cuts Stock Holdings in Marathon Petroleum Corp (NYSE:MPC)

Biltmore Wealth Management LLC decreased its holdings in shares of Marathon Petroleum Corp (NYSE:MPC) by 6.0% during the third quarter, HoldingsChannel reports. The firm owned 8,938 shares of the oil and gas company’s stock after selling 566 shares during the period. Biltmore Wealth Management LLC’s holdings in Marathon Petroleum were worth $334,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Asio Capital LLC increased its position in Marathon Petroleum by 53.3% during the 3rd quarter. Asio Capital LLC now owns 58,583 shares of the oil and gas company’s stock valued at $1,719,000 after purchasing an additional 20,365 shares during the period. Raymond James Trust N.A. increased its position in Marathon Petroleum by 2.4% during the 3rd quarter. Raymond James Trust N.A. now owns 131,798 shares of the oil and gas company’s stock valued at $3,867,000 after purchasing an additional 3,122 shares during the period. Investors Asset Management of Georgia Inc. GA ADV boosted its holdings in shares of Marathon Petroleum by 11.1% in the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 10,519 shares of the oil and gas company’s stock valued at $309,000 after buying an additional 1,050 shares in the last quarter. Nachman Norwood & Parrott Inc bought a new stake in shares of Marathon Petroleum in the 3rd quarter valued at about $101,000. Finally, Avantax Advisory Services Inc. boosted its holdings in shares of Marathon Petroleum by 101.9% in the 3rd quarter. Avantax Advisory Services Inc. now owns 26,470 shares of the oil and gas company’s stock valued at $778,000 after buying an additional 13,357 shares in the last quarter. 73.27% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE MPC opened at $29.37 on Friday. The company has a current ratio of 1.27, a quick ratio of 0.57 and a debt-to-equity ratio of 0.99. Marathon Petroleum Corp has a 12 month low of $15.26 and a 12 month high of $69.65. The company has a 50 day simple moving average of $31.38 and a two-hundred day simple moving average of $33.15. The stock has a market cap of $19.11 billion, a price-to-earnings ratio of -2.47 and a beta of 2.13.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Monday, August 3rd. The oil and gas company reported ($1.33) EPS for the quarter, beating the consensus estimate of ($1.86) by $0.53. The business had revenue of $15.20 billion during the quarter, compared to analysts’ expectations of $17.49 billion. Marathon Petroleum had a negative net margin of 7.55% and a positive return on equity of 3.04%. The business’s quarterly revenue was down 54.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.73 EPS. Analysts forecast that Marathon Petroleum Corp will post -3.53 EPS for the current year.

A number of analysts have recently weighed in on the stock. Citigroup lowered their price target on shares of Marathon Petroleum from $38.00 to $30.00 in a report on Thursday, September 24th. Tudor Pickering upgraded shares of Marathon Petroleum from a “sell” rating to a “hold” rating and set a $32.00 price target on the stock in a report on Monday, September 28th. JPMorgan Chase & Co. lowered their price target on shares of Marathon Petroleum from $44.00 to $37.00 and set a “neutral” rating on the stock in a report on Friday, September 11th. Morgan Stanley raised their price target on shares of Marathon Petroleum from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Finally, Piper Sandler lowered their target price on shares of Marathon Petroleum from $46.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, September 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $45.00.

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

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