Empowered Funds LLC Boosts Stake in Marathon Petroleum Corporation $MPC
Empowered Funds LLC increased its position in Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 3.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 200,599 shares of the oil and gas company’s stock after purchasing an additional 6,196 shares during the quarter. Empowered Funds LLC owned approximately 0.07% of Marathon Petroleum worth $33,321,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MPC. Baker Tilly Wealth Management LLC lifted its position in Marathon Petroleum by 2.8% during the second quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company’s stock valued at $370,000 after buying an additional 60 shares during the period. CHICAGO TRUST Co NA increased its stake in shares of Marathon Petroleum by 3.9% in the 2nd quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company’s stock worth $280,000 after acquiring an additional 63 shares in the last quarter. Werba Rubin Papier Wealth Management lifted its position in Marathon Petroleum by 4.2% during the 2nd quarter. Werba Rubin Papier Wealth Management now owns 1,577 shares of the oil and gas company’s stock valued at $262,000 after acquiring an additional 64 shares during the period. AdvisorShares Investments LLC boosted its stake in Marathon Petroleum by 2.4% during the second quarter. AdvisorShares Investments LLC now owns 2,828 shares of the oil and gas company’s stock worth $470,000 after acquiring an additional 66 shares in the last quarter. Finally, Joseph Group Capital Management grew its holdings in Marathon Petroleum by 0.3% in the second quarter. Joseph Group Capital Management now owns 21,904 shares of the oil and gas company’s stock worth $3,639,000 after purchasing an additional 67 shares during the period. 76.77% of the stock is owned by hedge funds and other institutional investors.
Marathon Petroleum Price Performance
Shares of NYSE:MPC opened at $196.09 on Tuesday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.79 and a current ratio of 1.32. The firm has a market cap of $58.95 billion, a price-to-earnings ratio of 20.91, a price-to-earnings-growth ratio of 3.83 and a beta of 0.90. The business has a 50-day simple moving average of $189.95 and a two-hundred day simple moving average of $174.94. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $202.29.
Marathon Petroleum (NYSE:MPC — Get Free Report) last announced its quarterly earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.01. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. The firm had revenue of $34.81 billion during the quarter, compared to analyst estimates of $31.06 billion. On average, analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.
Marathon Petroleum Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th will be paid a dividend of $1.00 per share. The ex-dividend date is Wednesday, November 19th. This represents a $4.00 dividend on an annualized basis and a yield of 2.0%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s dividend payout ratio (DPR) is presently 38.81%.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the company. Bank of America boosted their price target on Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Marathon Petroleum in a report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price target on Marathon Petroleum from $183.00 to $211.00 and gave the company a “neutral” rating in a report on Wednesday, November 12th. Mizuho upped their price target on shares of Marathon Petroleum from $184.00 to $188.00 and gave the stock a “neutral” rating in a research note on Monday, September 15th. Finally, UBS Group raised their price objective on shares of Marathon Petroleum from $203.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Eight equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Marathon Petroleum currently has a consensus rating of “Hold” and an average target price of $202.14.
Check Out Our Latest Stock Analysis on Marathon Petroleum
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.
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