D.A. Davidson & CO. Has $6.70 Million Stock Holdings in Marathon Petroleum Corporation $MPC

D.A. Davidson & CO. lifted its stake in Marathon Petroleum Corporation (NYSE:MPC) by 49.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,353 shares of the oil and gas company’s stock after acquiring an additional 13,333 shares during the quarter. D.A. Davidson & CO.’s holdings in Marathon Petroleum were worth $6,703,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased 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 worth $5,090,611,000 after buying an additional 3,834,501 shares during the last quarter. Wellington Management Group LLP increased 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 worth $1,722,664,000 after buying an additional 1,862,674 shares during the last quarter. Raymond James Financial Inc. increased its position in Marathon Petroleum by 6.3% during the first quarter. Raymond James Financial Inc. now owns 6,037,532 shares of the oil and gas company’s stock worth $879,608,000 after buying an additional 355,215 shares during the last quarter. Boston Partners increased 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 worth $791,274,000 after buying an additional 2,011,810 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Marathon Petroleum by 3.7% during the first quarter. Bank of New York Mellon Corp now owns 4,982,348 shares of the oil and gas company’s stock worth $725,878,000 after buying an additional 178,397 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Citigroup increased their target price on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. Barclays increased their target price on shares of Marathon Petroleum from $176.00 to $194.00 and gave the stock an “overweight” rating in a research report on Monday, October 13th. Evercore ISI increased their target price on shares of Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a research report on Friday, September 19th. Bank of America upped their price target on shares of Marathon Petroleum from $184.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, September 3rd. Finally, Wolfe Research cut shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $200.31.

Marathon Petroleum Stock Up 3.9%

MPC stock opened at $195.95 on Friday. 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 52-week low of $115.10 and a 52-week high of $201.61. The company has a 50-day moving average of $182.85 and a two-hundred day moving average of $166.38. The stock has a market capitalization of $59.57 billion, a price-to-earnings ratio of 29.07, a price-to-earnings-growth ratio of 3.95 and a beta of 0.90.

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

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 54.01%.

Insider Buying and Selling

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the firm’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the transaction, the insider owned 28,700 shares in the company, valued at $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is currently owned by corporate insiders.

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.