Envestnet Asset Management Inc. raised its holdings in Marathon Petroleum Co. (NYSE:MPC – Free Report) by 4.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 347,725 shares of the oil and gas company’s stock after acquiring an additional 13,858 shares during the period. Envestnet Asset Management Inc. owned approximately 0.09% of Marathon Petroleum worth $52,625,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the business. Moneta Group Investment Advisors LLC increased its holdings in shares of Marathon Petroleum by 121,130.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,942,426 shares of the oil and gas company’s stock worth $458,859,000 after buying an additional 3,939,174 shares during the last quarter. Norges Bank purchased a new position in Marathon Petroleum in the 4th quarter valued at approximately $453,190,000. Arrowstreet Capital Limited Partnership boosted its position in Marathon Petroleum by 22,119.1% in 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 buying an additional 2,217,443 shares during the period. Bank of Montreal Can purchased a new position in Marathon Petroleum in the 2nd quarter valued at approximately $132,795,000. Finally, Point72 Asset Management L.P. boosted its position in Marathon Petroleum by 246.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,216,688 shares of the oil and gas company’s stock valued at $141,866,000 after buying an additional 865,418 shares during the period. Institutional investors and hedge funds own 74.93% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have commented on MPC. TD Cowen raised their price target on shares of Marathon Petroleum from $168.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Citigroup initiated coverage on shares of Marathon Petroleum in a research report on Wednesday, January 24th. They set a “neutral” rating for the company. Raymond James lifted their price objective on shares of Marathon Petroleum from $175.00 to $185.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, January 31st. Wells Fargo & Company raised shares of Marathon Petroleum from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $159.00 to $169.00 in a research report on Thursday, December 14th. Finally, Barclays lifted their price objective on shares of Marathon Petroleum from $163.00 to $168.00 and gave the stock an “overweight” rating in a research report on Monday, February 5th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $163.00.
Marathon Petroleum Trading Up 1.1 %
Shares of Marathon Petroleum stock opened at $166.05 on Thursday. Marathon Petroleum Co. has a 52-week low of $104.32 and a 52-week high of $173.32. The company has a quick ratio of 1.20, a current ratio of 1.67 and a debt-to-equity ratio of 0.83. The company’s 50-day simple moving average is $158.55 and its 200-day simple moving average is $151.78. The firm has a market cap of $63.05 billion, a price-to-earnings ratio of 7.06, a price-to-earnings-growth ratio of 1.90 and a beta of 1.51.
Marathon Petroleum (NYSE:MPC – Get Free Report) last issued its quarterly earnings results on Tuesday, January 30th. The oil and gas company reported $3.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $1.77. Marathon Petroleum had a net margin of 6.44% and a return on equity of 30.21%. The business had revenue of $36.26 billion for the quarter, compared to analyst estimates of $34.90 billion. During the same period in the previous year, the business posted $6.65 earnings per share. The business’s revenue was down 8.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Marathon Petroleum Co. will post 14.38 earnings per share for the current year.
Marathon Petroleum Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, March 11th. Stockholders of record on Wednesday, February 21st will be paid a dividend of $0.825 per share. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.99%. Marathon Petroleum’s dividend payout ratio (DPR) is 14.02%.
Marathon Petroleum announced that its board has approved a share repurchase program on Wednesday, October 25th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to reacquire up to 8.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
Marathon Petroleum Company Profile
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 and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.
Read More
Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Co. (NYSE:MPC – Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Marathon Petroleum, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Marathon Petroleum wasn’t on the list.
While Marathon Petroleum currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio? Find out by clicking the link below.