iA Global Asset Management Inc. Grows Stock Position in Marathon Petroleum Corporation $MPC

iA Global Asset Management Inc. boosted its stake in Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 126.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,977 shares of the oil and gas company’s stock after purchasing an additional 13,935 shares during the period. iA Global Asset Management Inc.’s holdings in Marathon Petroleum were worth $4,814,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Concord Asset Management LLC VA bought a new stake in shares of Marathon Petroleum during the second quarter valued at approximately $412,000. Los Angeles Capital Management LLC lifted its position in Marathon Petroleum by 459.5% during the second quarter. Los Angeles Capital Management LLC now owns 189,973 shares of the oil and gas company’s stock valued at $31,556,000 after buying an additional 156,019 shares during the period. FSM Wealth Advisors LLC bought a new stake in shares of Marathon Petroleum during the 2nd quarter valued at $685,000. Generali Asset Management SPA SGR grew its position in shares of Marathon Petroleum by 36.8% in the 3rd quarter. Generali Asset Management SPA SGR now owns 41,225 shares of the oil and gas company’s stock worth $7,946,000 after buying an additional 11,082 shares during the period. Finally, Greatmark Investment Partners Inc. increased its stake in shares of Marathon Petroleum by 2.9% in the 2nd quarter. Greatmark Investment Partners Inc. now owns 168,603 shares of the oil and gas company’s stock worth $28,007,000 after acquiring an additional 4,820 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

MPC has been the topic of several research reports. Morgan Stanley boosted their price objective on shares of Marathon Petroleum from $182.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, October 3rd. Piper Sandler dropped their price target on Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Zacks Research downgraded Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Barclays lowered their price objective on Marathon Petroleum from $202.00 to $194.00 and set an “overweight” rating for the company in a research note on Tuesday, January 13th. Finally, Wall Street Zen cut Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Eight equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $195.71.

Check Out Our Latest Research Report on Marathon Petroleum

Marathon Petroleum Stock Performance

MPC stock opened at $175.39 on Friday. The stock’s 50 day simple moving average is $179.65 and its 200 day simple moving average is $180.70. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $202.29. The stock has a market capitalization of $52.72 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 0.76 and a beta of 0.74.

Marathon Petroleum (NYSE:MPC — Get Free Report) last posted its quarterly earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $31.06 billion. As a group, research analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th were paid a dividend of $1.00 per share. The ex-dividend date was Wednesday, November 19th. This represents a $4.00 annualized dividend and a yield of 2.3%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s dividend payout ratio (DPR) is currently 42.64%.

Marathon Petroleum Profile

(Free Report)

Marathon Petroleum Corporation NYSE: MPC is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.

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