SG Americas Securities LLC Has $12.06 Million Stake in Marathon Petroleum Co. (NYSE:MPC)

SG Americas Securities LLC boosted its holdings in Marathon Petroleum Co. (NYSE:MPC) by 149.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,866 shares of the oil and gas company’s stock after buying an additional 35,890 shares during the period. SG Americas Securities LLC’s holdings in Marathon Petroleum were worth $12,063,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of MPC. Norges Bank acquired a new position in Marathon Petroleum in the fourth quarter valued at approximately $500,685,000. Assenagon Asset Management S.A. lifted its holdings in Marathon Petroleum by 256.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 884,573 shares of the oil and gas company’s stock valued at $131,235,000 after buying an additional 636,281 shares during the period. Schroder Investment Management Group lifted its holdings in Marathon Petroleum by 309.9% in the fourth quarter. Schroder Investment Management Group now owns 643,590 shares of the oil and gas company’s stock valued at $95,483,000 after buying an additional 486,573 shares during the period. International Assets Investment Management LLC increased its stake in Marathon Petroleum by 248.1% in the fourth quarter. International Assets Investment Management LLC now owns 608,888 shares of the oil and gas company’s stock valued at $90,335,000 after purchasing an additional 433,977 shares in the last quarter. Finally, Canoe Financial LP bought a new stake in Marathon Petroleum in the fourth quarter valued at approximately $33,604,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Piper Sandler lowered their target price on shares of Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a research note on Friday, June 14th. Raymond James lowered their target price on shares of Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating for the company in a research note on Thursday, May 30th. Tudor Pickering raised shares of Marathon Petroleum to a “strong-buy” rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. lowered their target price on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Finally, StockNews.com downgraded shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $188.00.

Marathon Petroleum Stock Up 0.7 %

Marathon Petroleum stock opened at $165.46 on Friday. The company has a market cap of $58.30 billion, a P/E ratio of 8.26, a price-to-earnings-growth ratio of 1.63 and a beta of 1.40. Marathon Petroleum Co. has a 1-year low of $117.28 and a 1-year high of $221.11. The company has a fifty day simple moving average of $174.11 and a 200 day simple moving average of $177.02. The company has a current ratio of 1.43, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.25. The firm had revenue of $32.71 billion during the quarter, compared to analysts’ expectations of $32.07 billion. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter last year, the company posted $6.09 earnings per share. Research analysts anticipate that Marathon Petroleum Co. will post 16.9 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were paid a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio is currently 16.48%.

Marathon Petroleum announced that its Board of Directors has approved a share repurchase plan on Tuesday, April 30th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the oil and gas company to buy up to 7.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Marathon Petroleum 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.