Janney Montgomery Scott LLC boosted its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC – Free Report) by 3.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 145,016 shares of the oil and gas company’s stock after buying an additional 5,337 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Marathon Petroleum were worth $35,410,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MPC. Brighton Jones LLC grew its stake in Marathon Petroleum by 30.9% during the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock worth $696,000 after purchasing an additional 1,178 shares in the last quarter. Woodline Partners LP increased its holdings in Marathon Petroleum by 38.3% during the 1st quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company’s stock worth $3,889,000 after purchasing an additional 7,396 shares during the period. Sivia Capital Partners LLC raised its position in Marathon Petroleum by 26.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,221 shares of the oil and gas company’s stock valued at $369,000 after purchasing an additional 466 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Marathon Petroleum in the 2nd quarter valued at about $8,505,000. Finally, AXA S.A. boosted its stake in shares of Marathon Petroleum by 46.7% in the 2nd quarter. AXA S.A. now owns 39,675 shares of the oil and gas company’s stock valued at $6,590,000 after buying an additional 12,639 shares during the period. Hedge funds and other institutional investors own 76.77% of the company’s stock.
Analysts Set New Price Targets
Several analysts recently weighed in on MPC shares. Barclays raised their target price on shares of Marathon Petroleum from $230.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Raymond James Financial boosted their price target on shares of Marathon Petroleum from $285.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, June 10th. Jefferies Financial Group raised their price objective on shares of Marathon Petroleum from $279.00 to $296.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. The Goldman Sachs Group lifted their price objective on shares of Marathon Petroleum from $264.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Zacks Research downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 17th. Ten analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average price target of $272.62.
Marathon Petroleum Stock Performance
Shares of Marathon Petroleum stock opened at $259.35 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 52 week low of $158.00 and a 52 week high of $272.46. The firm’s 50 day moving average is $248.45 and its two-hundred day moving average is $217.03. The firm has a market capitalization of $75.72 billion, a P/E ratio of 16.93, a P/E/G ratio of 0.39 and a beta of 0.52.
Marathon Petroleum (NYSE:MPC – Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.91. The business had revenue of $34.20 billion during the quarter, compared to the consensus estimate of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.24) EPS. Research analysts forecast that Marathon Petroleum Corporation will post 31.35 EPS for the current fiscal year.
Marathon Petroleum Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.5%. The ex-dividend date was Wednesday, May 20th. Marathon Petroleum’s dividend payout ratio is currently 26.11%.
Insider Activity
In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction dated 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 transaction, the vice president owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.17% of the company’s stock.
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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