Global Retirement Partners LLC Invests $708,000 in Marathon Petroleum Corporation $MPC
Global Retirement Partners LLC bought a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC — Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,261 shares of the oil and gas company’s stock, valued at approximately $708,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Marathon Petroleum by 11.2% during the 2nd quarter. Vanguard Group Inc. now owns 38,866,104 shares of the oil and gas company’s stock valued at $6,456,049,000 after purchasing an additional 3,924,713 shares during the last quarter. Wellington Management Group LLP boosted its stake in Marathon Petroleum by 18.7% during the first quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock valued at $1,722,664,000 after buying an additional 1,862,674 shares during the last quarter. Geode Capital Management LLC grew its holdings in Marathon Petroleum by 14.8% during the 2nd quarter. Geode Capital Management LLC now owns 8,013,213 shares of the oil and gas company’s stock valued at $1,325,598,000 after buying an additional 1,033,645 shares in the last quarter. Boston Partners increased its stake in Marathon Petroleum by 13.0% in the 2nd quarter. Boston Partners now owns 6,155,996 shares of the oil and gas company’s stock worth $1,023,110,000 after acquiring an additional 707,482 shares during the last quarter. Finally, Raymond James Financial Inc. raised its holdings in shares of Marathon Petroleum by 6.3% during the 1st quarter. Raymond James Financial Inc. now owns 6,037,532 shares of the oil and gas company’s stock worth $879,608,000 after acquiring an additional 355,215 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Marathon Petroleum from $183.00 to $211.00 and gave the company a “neutral” rating in a report on Wednesday, November 12th. Mizuho lifted their price objective 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. Weiss Ratings restated a “hold (c)” rating on shares of Marathon Petroleum in a research report on Wednesday, October 8th. Morgan Stanley increased their price target on shares of Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. Finally, Evercore ISI boosted their price objective on Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a research note on Friday, September 19th. Eight research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $202.14.
Read Our Latest Research Report on Marathon Petroleum
Marathon Petroleum Stock Performance
Marathon Petroleum stock opened at $193.73 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79. The firm has a market capitalization of $58.24 billion, a P/E ratio of 20.65, a price-to-earnings-growth ratio of 0.98 and a beta of 0.90. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $202.29. The company’s 50-day moving average is $191.67 and its 200 day moving average is $177.36.
Marathon Petroleum (NYSE:MPC — Get Free Report) last released its earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.01. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%.The firm had revenue of $34.81 billion for the quarter, compared to analysts’ expectations of $31.06 billion. Research analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current year.
Marathon Petroleum Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 19th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.1%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. The ex-dividend date is Wednesday, November 19th. Marathon Petroleum’s dividend payout ratio is 42.64%.
Marathon Petroleum Company 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.
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