Westover Capital Advisors buys $3.7 Million stake in Marathon Petroleum Corp (MPC)

Marathon Petroleum Corp (MPC) : Westover Capital Advisors scooped up 97,448 additional shares in Marathon Petroleum Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 105,298 shares of Marathon Petroleum Corp which is valued at $3.7 Million.Marathon Petroleum Corp makes up approximately 3.23% of Westover Capital Advisors’s portfolio.

Other Hedge Funds, Including , Hartford Investment Management Co boosted its stake in MPC in the latest quarter, The investment management firm added 2,618 additional shares and now holds a total of 147,653 shares of Marathon Petroleum Corp which is valued at $5.2 Million. Marathon Petroleum Corp makes up approx 0.11% of Hartford Investment Management Co’s portfolio.Qci Asset Management Incny reduced its stake in MPC by selling 52 shares or 18.84% in the most recent quarter. The Hedge Fund company now holds 224 shares of MPC which is valued at $7,950.Tiaa Cref Investment Management reduced its stake in MPC by selling 394,710 shares or 12.66% in the most recent quarter. The Hedge Fund company now holds 2,722,814 shares of MPC which is valued at $97.7 Million. Marathon Petroleum Corp makes up approx 0.07% of Tiaa Cref Investment Management’s portfolio. Harfst Associates sold out all of its stake in MPC during the most recent quarter. The investment firm sold 200 shares of MPC which is valued $7,176.

Marathon Petroleum Corp closed down -0.13 points or -0.36% at $35.68 with 46,67,831 shares getting traded on Wednesday. Post opening the session at $36.21, the shares hit an intraday low of $35.23 and an intraday high of $36.21 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Marathon Petroleum Corp reported $0.07 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $0.15. The company had revenue of $12830.00 million for the quarter, compared to analysts expectations of $12988.94 million. The company’s revenue was down -25.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $3.24 EPS.

Many Wall Street Analysts have commented on Marathon Petroleum Corp. Company shares were Reiterated by RBC Capital Mkts on Apr 29, 2016 to “Top Pick”, Firm has raised the Price Target to $ 58 from a previous price target of $56 .Marathon Petroleum Corp was Upgraded by BofA/Merrill to ” Buy” on Mar 3, 2016.

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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