Smith Anglin Financial LLC Boosts Stake in Marathon Petroleum Corporation $MPC

Smith Anglin Financial LLC raised its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 31.4% during the second quarter, HoldingsChannel reports. The firm owned 1,892 shares of the oil and gas company’s stock after buying an additional 452 shares during the quarter. Smith Anglin Financial LLC’s holdings in Marathon Petroleum were worth $314,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MPC. Vanguard Group Inc. raised its position in Marathon Petroleum by 12.3% during the first quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company’s stock valued at $5,090,611,000 after purchasing an additional 3,834,501 shares during the period. Boston Partners raised its position in Marathon Petroleum by 58.5% during the first quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock valued at $791,274,000 after purchasing an additional 2,011,810 shares during the period. Wellington Management Group LLP raised its position in Marathon Petroleum by 18.7% during the first quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock valued at $1,722,664,000 after purchasing an additional 1,862,674 shares during the period. GAMMA Investing LLC raised its position in Marathon Petroleum by 14,969.1% during the first quarter. GAMMA Investing LLC now owns 1,540,963 shares of the oil and gas company’s stock valued at $224,503,000 after purchasing an additional 1,530,737 shares during the period. Finally, Nuveen LLC purchased a new stake in Marathon Petroleum during the first quarter valued at approximately $147,122,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MPC shares. Barclays increased their price target on Marathon Petroleum from $159.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Raymond James Financial increased their price target on Marathon Petroleum from $195.00 to $199.00 and gave the stock an “outperform” rating in a report on Tuesday, September 9th. Mizuho increased their price target on Marathon Petroleum from $184.00 to $188.00 and gave the stock a “neutral” rating in a report on Monday, September 15th. Dbs Bank upgraded Marathon Petroleum to a “moderate buy” rating in a report on Monday, July 28th. Finally, Evercore ISI raised their price objective on Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a report on Friday, September 19th. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average price target of $195.00.

Marathon Petroleum Trading Up 1.2%

Shares of NYSE:MPC opened at $198.85 on Monday. The business’s 50-day moving average is $175.09 and its 200 day moving average is $160.70. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $201.61. The firm has a market capitalization of $60.45 billion, a P/E ratio of 29.50, a P/E/G ratio of 3.44 and a beta of 0.97.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The company had revenue of $34.10 billion during the quarter, compared to analysts’ expectations of $31.70 billion. During the same period last year, the business posted $4.12 earnings per share. The firm’s revenue was down 11.1% compared to the same quarter last year. On average, research analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a yield of 1.8%. Marathon Petroleum’s payout ratio is currently 54.01%.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction dated 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 sale, the director owned 18,944 shares of the company’s stock, valued at approximately $3,315,200. The trade was a 28.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the sale, the insider directly owned 28,700 shares of the company’s stock, valued at approximately $4,678,100. This represents a 27.49% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

About Marathon Petroleum

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.