PDS Planning Inc Acquires 259 Shares of Marathon Petroleum Co. (NYSE:MPC)

PDS Planning Inc grew its holdings in shares of Marathon Petroleum Co. (NYSE:MPCGet Rating) by 10.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,677 shares of the oil and gas company’s stock after buying an additional 259 shares during the period. PDS Planning Inc’s holdings in Marathon Petroleum were worth $220,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Marathon Petroleum in the 4th quarter worth about $411,853,000. Bank of New York Mellon Corp increased its position in shares of Marathon Petroleum by 21.9% during the 1st quarter. Bank of New York Mellon Corp now owns 12,481,878 shares of the oil and gas company’s stock valued at $1,067,202,000 after purchasing an additional 2,244,421 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Marathon Petroleum by 22,119.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,227,468 shares of the oil and gas company’s stock valued at $190,449,000 after purchasing an additional 2,217,443 shares during the last quarter. Invesco Ltd. increased its position in shares of Marathon Petroleum by 39.0% during the 1st quarter. Invesco Ltd. now owns 6,695,296 shares of the oil and gas company’s stock valued at $572,449,000 after purchasing an additional 1,878,976 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Marathon Petroleum by 89.1% during the 1st quarter. First Trust Advisors LP now owns 1,431,767 shares of the oil and gas company’s stock valued at $122,416,000 after purchasing an additional 674,456 shares during the last quarter. Institutional investors own 78.69% of the company’s stock.

Insider Buying and Selling

In other Marathon Petroleum news, VP Carl Kristopher Hagedorn sold 14,353 shares of the stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $105.41, for a total value of $1,512,949.73. Following the sale, the vice president now owns 7,873 shares in the company, valued at $829,892.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Suzanne Gagle sold 35,174 shares of the firm’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $93.57, for a total transaction of $3,291,231.18. Following the transaction, the senior vice president now owns 43,996 shares in the company, valued at $4,116,705.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Carl Kristopher Hagedorn sold 14,353 shares of the firm’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $105.41, for a total value of $1,512,949.73. Following the transaction, the vice president now owns 7,873 shares in the company, valued at approximately $829,892.93. The disclosure for this sale can be found here. 0.28% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MPC shares. Barclays upped their price target on shares of Marathon Petroleum from $94.00 to $112.00 and gave the company an “overweight” rating in a research report on Tuesday, August 16th. Raymond James increased their target price on shares of Marathon Petroleum from $131.00 to $133.00 and gave the stock a “strong-buy” rating in a report on Friday, September 9th. Piper Sandler reduced their target price on shares of Marathon Petroleum from $111.00 to $110.00 and set a “neutral” rating for the company in a report on Monday, September 12th. Credit Suisse Group increased their target price on shares of Marathon Petroleum to $130.00 in a report on Thursday, June 9th. Finally, StockNews.com raised shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a report on Sunday, September 11th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $116.54.

Marathon Petroleum Stock Up 1.4 %

NYSE MPC opened at $95.98 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.10 and a current ratio of 1.49. The company has a market capitalization of $47.86 billion, a P/E ratio of 6.49, a P/E/G ratio of 0.19 and a beta of 1.70. Marathon Petroleum Co. has a one year low of $59.55 and a one year high of $114.35. The stock has a 50 day moving average price of $95.54 and a 200-day moving average price of $91.55.

Marathon Petroleum (NYSE:MPCGet Rating) last posted its earnings results on Tuesday, August 2nd. The oil and gas company reported $10.61 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $5.63. The firm had revenue of $54.33 billion during 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 company’s quarterly revenue was up 82.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.67 EPS. As a group, equities analysts predict that Marathon Petroleum Co. will post 21.76 EPS for the current fiscal 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 given a dividend of $0.58 per share. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.42%. Marathon Petroleum’s dividend payout ratio is currently 15.68%.

Marathon Petroleum Profile

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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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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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