Kimelman & Baird LLC Buys New Stake in Marathon Petroleum Co. (NYSE:MPC)

Kimelman & Baird LLC bought a new stake in Marathon Petroleum Co. (NYSE:MPC) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 942 shares of the oil and gas company’s stock, valued at approximately $163,000.

Other large investors have also recently made changes to their positions in the company. Raymond James & Associates raised its position in Marathon Petroleum by 2.6% during the second quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company’s stock worth $743,690,000 after acquiring an additional 107,915 shares during the period. Price T Rowe Associates Inc. MD raised its position in Marathon Petroleum by 1.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company’s stock worth $620,815,000 after acquiring an additional 31,100 shares during the period. Boston Partners raised its position in Marathon Petroleum by 0.3% during the first quarter. Boston Partners now owns 2,773,050 shares of the oil and gas company’s stock worth $558,390,000 after acquiring an additional 8,476 shares during the period. Pacer Advisors Inc. raised its position in Marathon Petroleum by 8.5% during the second quarter. Pacer Advisors Inc. now owns 2,669,815 shares of the oil and gas company’s stock worth $463,160,000 after acquiring an additional 209,270 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in shares of Marathon Petroleum by 7.6% during the first quarter. Acadian Asset Management LLC now owns 1,663,835 shares of the oil and gas company’s stock worth $335,241,000 after buying an additional 117,790 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Stock Down 0.5 %

Shares of NYSE:MPC opened at $162.91 on Tuesday. The firm’s 50 day moving average price is $169.64 and its 200 day moving average price is $178.98. The stock has a market cap of $57.40 billion, a price-to-earnings ratio of 8.14, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38. Marathon Petroleum Co. has a fifty-two week low of $139.32 and a fifty-two week high of $221.11. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86.

Marathon Petroleum (NYSE:MPC) last issued 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 firm had revenue of $38.36 billion for 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% compared to the same quarter last year. During the same quarter last year, the company earned $5.32 earnings per share. As a group, equities research analysts predict that Marathon Petroleum Co. will post 10.56 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were issued a $0.825 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $3.30 annualized dividend and a yield of 2.03%. Marathon Petroleum’s dividend payout ratio (DPR) is 16.48%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MPC shares. Wells Fargo & Company dropped their target price 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. Mizuho dropped their price objective on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Scotiabank lowered their target price on shares of Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Tudor, Pickering, Holt & Co. lowered shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research note on Monday, September 9th. Finally, 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. Two analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $197.69.

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.