Profit Investment Management Lowers stake in Marathon Petroleum Corp (MPC)

Marathon Petroleum Corp (MPC) : Profit Investment Management reduced its stake in Marathon Petroleum Corp by 41.73% during the most recent quarter end. The investment management company now holds a total of 16,890 shares of Marathon Petroleum Corp which is valued at $701,948 after selling 12,096 shares in Marathon Petroleum Corp , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Marathon Petroleum Corp makes up approximately 0.71% of Profit Investment Management’s portfolio.

Other Hedge Funds, Including , Msi Financial Services Inc boosted its stake in MPC in the latest quarter, The investment management firm added 1,183 additional shares and now holds a total of 16,116 shares of Marathon Petroleum Corp which is valued at $669,781. Marathon Petroleum Corp makes up approx 0.02% of Msi Financial Services Inc’s portfolio.Centurylink Investment Management Co reduced its stake in MPC by selling 2,130 shares or 17.14% in the most recent quarter. The Hedge Fund company now holds 10,294 shares of MPC which is valued at $431,936. Marathon Petroleum Corp makes up approx 0.15% of Centurylink Investment Management Co’s portfolio.Fisher Asset Management boosted its stake in MPC in the latest quarter, The investment management firm added 470 additional shares and now holds a total of 8,706 shares of Marathon Petroleum Corp which is valued at $369,744.Oregon Public Employees Retirement Fund reduced its stake in MPC by selling 79,601 shares or 39.92% in the most recent quarter. The Hedge Fund company now holds 119,824 shares of MPC which is valued at $5,088,925. Marathon Petroleum Corp makes up approx 0.11% of Oregon Public Employees Retirement Fund’s portfolio.Acropolis Investment Management reduced its stake in MPC by selling 1,315 shares or 2.76% in the most recent quarter. The Hedge Fund company now holds 46,395 shares of MPC which is valued at $1,961,117. Marathon Petroleum Corp makes up approx 0.36% of Acropolis Investment Management’s portfolio.

Marathon Petroleum Corp closed down -0.51 points or -1.20% at $41.96 with 51,30,635 shares getting traded on Tuesday. Post opening the session at $42.5, the shares hit an intraday low of $41.555 and an intraday high of $42.95 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Marathon Petroleum Corp reported $1.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.98. The company had revenue of $16790.00 million for the quarter, compared to analysts expectations of $14500.00 million. The company’s revenue was down -18.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.51 EPS.

Many Wall Street Analysts have commented on Marathon Petroleum Corp. Jefferies Initiated Marathon Petroleum Corp on Aug 23, 2016 to “Buy”, Price Target of the shares are set at $48.

Marathon Petroleum Corporation (MPC) is engaged petroleum product refining marketing retail and transportation businesses. It has three segments: Refining & Marketing which refines crude oil and other feedstocks at its seven refineries in the Gulf Coast and Midwest regions of the United States purchases ethanol and refined products for resale and distributes refined products; Speedway which sells transportation fuels and convenience products in the retail market in the Midwest East Coast and Southeast and Pipeline Transportation which transports crude oil and other feedstocks to its refineries and other locations delivers refined products to wholesale and retail market areas and includes the aggregated operations of MPLX LP.

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