Ivory Investment Management buys $67,411,785 stake in Marathon Petroleum Corp (MPC)

Marathon Petroleum Corp (MPC) : Ivory Investment Management scooped up 782,828 additional shares in Marathon Petroleum Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,616,202 shares of Marathon Petroleum Corp which is valued at $67,411,785.Marathon Petroleum Corp makes up approximately 2.18% of Ivory Investment Management’s portfolio.

Other Hedge Funds, Including , Millennium Management boosted its stake in MPC in the latest quarter, The investment management firm added 1,426,026 additional shares and now holds a total of 1,916,459 shares of Marathon Petroleum Corp which is valued at $79,935,505. Marathon Petroleum Corp makes up approx 0.20% of Millennium Management’s portfolio.Fort Washington Investment Advisors Inc Oh reduced its stake in MPC by selling 912 shares or 1.51% in the most recent quarter. The Hedge Fund company now holds 59,654 shares of MPC which is valued at $2,488,168. Marathon Petroleum Corp makes up approx 0.05% of Fort Washington Investment Advisors Inc Oh’s portfolio.First National Trust Co reduced its stake in MPC by selling 2,037 shares or 19.71% in the most recent quarter. The Hedge Fund company now holds 8,298 shares of MPC which is valued at $313,913. Marathon Petroleum Corp makes up approx 0.05% of First National Trust Co’s portfolio.National Investment Services Inc Wi reduced its stake in MPC by selling 3,442 shares or 3.85% in the most recent quarter. The Hedge Fund company now holds 85,964 shares of MPC which is valued at $3,252,018. Marathon Petroleum Corp makes up approx 3.56% of National Investment Services Inc Wi’s portfolio.

Marathon Petroleum Corp closed down -0.6 points or -1.41% at $41.91 with 38,70,576 shares getting traded on Thursday. Post opening the session at $42.55, the shares hit an intraday low of $41.385 and an intraday high of $42.6 and the price fluctuated in this range throughout the day.Shares ended Thursday 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 Corp was Downgraded by Scotia Howard Weil to ” Sector Perform” on Jul 11, 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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