Marathon Petroleum Co. (NYSE:MPC) Holdings Boosted by LPL Financial LLC

LPL Financial LLC boosted its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 1.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 417,134 shares of the oil and gas company’s stock after purchasing an additional 6,818 shares during the period. LPL Financial LLC owned 0.12% of Marathon Petroleum worth $72,365,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James & Associates lifted its stake in shares of Marathon Petroleum by 2.6% in the 2nd quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company’s stock valued at $743,690,000 after purchasing an additional 107,915 shares during the last quarter. Norges Bank acquired a new stake in shares of Marathon Petroleum in the 4th quarter valued at $500,685,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Marathon Petroleum by 1.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company’s stock valued at $620,815,000 after purchasing an additional 31,100 shares during the last quarter. Boston Partners lifted its stake in shares of Marathon Petroleum by 0.3% in the 1st quarter. Boston Partners now owns 2,773,050 shares of the oil and gas company’s stock valued at $558,390,000 after purchasing an additional 8,476 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of Marathon Petroleum by 7.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,663,835 shares of the oil and gas company’s stock valued at $335,241,000 after purchasing an additional 117,790 shares during the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MPC. StockNews.com lowered shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Wolfe Research started coverage on shares of Marathon Petroleum in a research note on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price objective for the company. Jefferies Financial Group upped their price target on shares of Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a report on Monday, July 15th. Wells Fargo & Company decreased their price target on shares of Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Finally, TD Cowen upped their price target on shares of Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $198.38.

Marathon Petroleum Stock Up 1.3 %

NYSE MPC opened at $163.58 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31. The firm has a 50-day simple moving average of $170.03 and a 200 day simple moving average of $180.01. Marathon Petroleum Co. has a twelve month low of $139.32 and a twelve month high of $221.11. The stock has a market cap of $54.75 billion, a PE ratio of 8.17, a PEG ratio of 2.09 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, beating the consensus estimate of $3.09 by $1.03. The business had revenue of $38.36 billion during the quarter, compared to analysts’ expectations of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the company earned $5.32 earnings per share. On average, research analysts forecast that Marathon Petroleum Co. will post 12.68 EPS for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio is 16.48%.

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.