Lbp Am Sa Raises Stock Holdings in Marathon Petroleum Corporation (NYSE:MPC)

Lbp Am Sa lifted its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 28.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 65,444 shares of the oil and gas company’s stock after purchasing an additional 14,463 shares during the period. Lbp Am Sa’s holdings in Marathon Petroleum were worth $9,535,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Wellington Management Group LLP increased its holdings in Marathon Petroleum by 78.1% during the 4th quarter. Wellington Management Group LLP now owns 9,961,503 shares of the oil and gas company’s stock worth $1,389,630,000 after purchasing an additional 4,367,774 shares during the period. Demars Financial Group LLC boosted its position in Marathon Petroleum by 16,338.3% during the 4th quarter. Demars Financial Group LLC now owns 4,177,133 shares of the oil and gas company’s stock valued at $582,710,000 after acquiring an additional 4,151,722 shares in the last quarter. Norges Bank bought a new stake in Marathon Petroleum during the 4th quarter valued at $453,427,000. GAMMA Investing LLC boosted its position in Marathon Petroleum by 14,969.1% during the 1st quarter. GAMMA Investing LLC now owns 1,540,963 shares of the oil and gas company’s stock valued at $224,503,000 after acquiring an additional 1,530,737 shares in the last quarter. Finally, Boston Partners boosted its position in Marathon Petroleum by 37.4% during the 4th quarter. Boston Partners now owns 3,436,704 shares of the oil and gas company’s stock valued at $480,501,000 after acquiring an additional 935,042 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on MPC shares. Evercore ISI started coverage on Marathon Petroleum in a research report on Wednesday, June 18th. They set an “in-line” rating and a $170.00 target price on the stock. Mizuho boosted their price objective on Marathon Petroleum from $168.00 to $184.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. TD Cowen lifted their price target on Marathon Petroleum from $152.00 to $163.00 and gave the company a “buy” rating in a research note on Tuesday, June 10th. Wall Street Zen upgraded Marathon Petroleum from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Finally, Scotiabank cut their price objective on Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating for the company in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $176.13.

Marathon Petroleum Trading Down 0.2%

Shares of Marathon Petroleum stock opened at $179.52 on Thursday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.73 and a current ratio of 1.19. The stock has a 50 day moving average of $162.09 and a 200 day moving average of $149.26. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $183.31. The firm has a market capitalization of $55.15 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 3.47 and a beta of 0.88.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.16. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. The business had revenue of $31.85 billion during the quarter, compared to analyst estimates of $28.91 billion. During the same period last year, the business posted $2.58 earnings per share. The company’s quarterly revenue was down 4.1% on a year-over-year basis. As a group, research analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $3.64 annualized dividend and a dividend yield of 2.03%. Marathon Petroleum’s dividend payout ratio is currently 51.20%.

Insider Activity at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 7,392 shares of the firm’s stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the completion of the transaction, the director directly owned 18,944 shares in the company, valued at $3,315,200. This trade represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by corporate insiders.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. 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 and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.