Gradient Investments LLC lowered its stake in shares of Marathon Petroleum Co. (NYSE:MPC – Get Rating) by 13.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,610 shares of the oil and gas company’s stock after selling 410 shares during the period. Gradient Investments LLC’s holdings in Marathon Petroleum were worth $223,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of MPC. Acadian Asset Management LLC lifted its holdings in Marathon Petroleum by 91.4% during the fourth quarter. Acadian Asset Management LLC now owns 4,693 shares of the oil and gas company’s stock worth $300,000 after buying an additional 2,241 shares during the period. Candriam Luxembourg S.C.A. increased its position in shares of Marathon Petroleum by 2.5% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 36,084 shares of the oil and gas company’s stock worth $2,309,000 after purchasing an additional 867 shares in the last quarter. Prudential PLC acquired a new position in shares of Marathon Petroleum during the fourth quarter worth $1,012,000. MAI Capital Management increased its position in shares of Marathon Petroleum by 8.8% during the fourth quarter. MAI Capital Management now owns 12,632 shares of the oil and gas company’s stock worth $808,000 after purchasing an additional 1,024 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Marathon Petroleum by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,870,128 shares of the oil and gas company’s stock worth $247,650,000 after purchasing an additional 21,024 shares in the last quarter. Hedge funds and other institutional investors own 78.69% of the company’s stock.
Marathon Petroleum Price Performance
Shares of MPC opened at $96.14 on Friday. The business’s 50-day moving average is $93.94 and its two-hundred day moving average is $90.74. The company has a market capitalization of $47.94 billion, a P/E ratio of 6.50, a P/E/G ratio of 0.20 and a beta of 1.70. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.10 and a current ratio of 1.49. Marathon Petroleum Co. has a fifty-two week low of $56.08 and a fifty-two week high of $114.35.
Marathon Petroleum (NYSE:MPC – Get Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The oil and gas company reported $10.61 earnings per share for the quarter, topping the consensus estimate of $4.98 by $5.63. The company had revenue of $54.33 billion for the quarter, compared to the consensus estimate of $44.26 billion. Marathon Petroleum had a return on equity of 23.85% and a net margin of 5.09%. The firm’s revenue for the quarter was up 82.1% compared to the same quarter last year. During the same period last year, the firm earned $0.67 EPS. Research analysts predict that Marathon Petroleum Co. will post 21.15 earnings per share for the current year.
Marathon Petroleum Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Wednesday, August 17th were paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend was Tuesday, August 16th. Marathon Petroleum’s payout ratio is currently 15.68%.
Insider Transactions at Marathon Petroleum
In other news, VP Carl Kristopher Hagedorn sold 14,353 shares of the stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $105.41, for a total transaction of $1,512,949.73. Following the sale, the vice president now directly owns 7,873 shares of the company’s stock, valued at approximately $829,892.93. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.28% of the company’s stock.
Analysts Set New Price Targets
MPC has been the topic of a number of recent analyst reports. Morgan Stanley upped their price target on Marathon Petroleum from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, July 15th. Raymond James upped their price target on Marathon Petroleum from $131.00 to $133.00 and gave the stock a “strong-buy” rating in a research report on Friday, September 9th. Credit Suisse Group upped their target price on Marathon Petroleum to $130.00 in a research report on Thursday, June 9th. StockNews.com raised Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Sunday, September 11th. Finally, Piper Sandler cut their target price on Marathon Petroleum from $111.00 to $110.00 and set a “neutral” rating on the stock in a research report on Monday. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Buy” and an average price target of $115.58.
About Marathon Petroleum
Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale.
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