PNC Financial Services Group Inc. grew its position in shares of Marathon Petroleum Corporation (NYSE:MPC – Free Report) by 1.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 344,132 shares of the oil and gas company’s stock after purchasing an additional 5,320 shares during the period. PNC Financial Services Group Inc. owned about 0.12% of Marathon Petroleum worth $84,030,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Diversified Trust Co. lifted its holdings in shares of Marathon Petroleum by 39.3% in the 4th quarter. Diversified Trust Co. now owns 15,675 shares of the oil and gas company’s stock worth $2,549,000 after acquiring an additional 4,419 shares during the last quarter. North Dakota State Investment Board bought a new position in shares of Marathon Petroleum during the 4th quarter valued at $1,714,000. Teachers Retirement System of The State of Kentucky raised its position in Marathon Petroleum by 570.7% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 168,644 shares of the oil and gas company’s stock worth $41,180,000 after purchasing an additional 143,500 shares during the period. USA Financial Formulas bought a new stake in Marathon Petroleum in the fourth quarter worth $791,000. Finally, Pictet Asset Management Holding SA lifted its stake in Marathon Petroleum by 31.0% in the first quarter. Pictet Asset Management Holding SA now owns 213,545 shares of the oil and gas company’s stock worth $52,146,000 after purchasing an additional 50,521 shares during the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on the company. Citigroup raised their price objective on Marathon Petroleum from $257.00 to $303.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. BMO Capital Markets restated an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, June 12th. TD Cowen boosted their price objective on Marathon Petroleum from $315.00 to $357.00 and gave the company a “buy” rating in a research report on Tuesday. Zacks Research lowered Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 17th. Finally, JPMorgan Chase & Co. raised their target price on shares of Marathon Petroleum from $235.00 to $257.00 in a report on Wednesday, May 6th. Ten investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $291.50.
Marathon Petroleum Stock Down 1.1%
Shares of Marathon Petroleum stock opened at $316.17 on Thursday. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 12-month low of $158.00 and a 12-month high of $326.92. The company has a market cap of $92.30 billion, a P/E ratio of 20.64, a PEG ratio of 0.43 and a beta of 0.52. The company’s fifty day simple moving average is $266.31 and its two-hundred day simple moving average is $231.05.
Marathon Petroleum (NYSE:MPC – Get Free Report) last announced its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The firm had revenue of $34.20 billion for the quarter, compared to analyst estimates of $33.42 billion. During the same quarter in the previous year, the firm posted ($0.24) EPS. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. Research analysts anticipate that Marathon Petroleum Corporation will post 35.82 EPS for the current year.
Marathon Petroleum Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were issued a $1.00 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $4.00 annualized dividend and a yield of 1.3%. Marathon Petroleum’s dividend payout ratio (DPR) is 26.11%.
Insider Buying and Selling
In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the sale, the vice president directly owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. The trade was a 27.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.17% of the stock is owned by company insiders.
Marathon Petroleum Profile
Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.
Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.
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