West Family Investments Inc. Makes New $430,000 Investment in Marathon Petroleum Corporation $MPC
West Family Investments Inc. bought a new stake in Marathon Petroleum Corporation (NYSE:MPC — Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,590 shares of the oil and gas company’s stock, valued at approximately $430,000.
Several other hedge funds have also made changes to their positions in MPC. Vanguard Group Inc. grew its stake in 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 worth $6,456,049,000 after buying an additional 3,924,713 shares during the last quarter. Norges Bank acquired a new position in shares of Marathon Petroleum during the second quarter valued at $527,197,000. Boston Partners grew its position in shares of Marathon Petroleum by 58.5% during the first quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock worth $791,274,000 after acquiring an additional 2,011,810 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Marathon Petroleum by 18.7% in the 1st quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock worth $1,722,664,000 after acquiring an additional 1,862,674 shares during the period. Finally, Geode Capital Management LLC lifted its position in Marathon Petroleum by 14.8% in 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 purchasing an additional 1,033,645 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.
Marathon Petroleum Trading Up 1.0%
Marathon Petroleum stock opened at $193.73 on Friday. 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 $58.24 billion, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 0.99 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 firm’s 50 day moving average price is $191.67 and its two-hundred day moving average price is $177.46.
Marathon Petroleum (NYSE:MPC — Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $34.81 billion during the quarter, compared to the consensus estimate of $31.06 billion. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%. On average, research analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.
Marathon Petroleum Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, November 19th will be given a $1.00 dividend. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. The ex-dividend date is Wednesday, November 19th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.1%. Marathon Petroleum’s dividend payout ratio is 42.64%.
Analyst Ratings Changes
A number of equities analysts recently issued reports on MPC shares. TD Cowen decreased their price objective on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Piper Sandler increased their price objective on shares of Marathon Petroleum from $220.00 to $231.00 and gave the company a “neutral” rating in a report on Friday, November 14th. Barclays raised their price objective on shares of Marathon Petroleum from $194.00 to $202.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Wells Fargo & Company cut their target price on Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Finally, BMO Capital Markets lifted their price target on Marathon Petroleum from $208.00 to $210.00 in a research report on Tuesday, November 11th. Eight research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $203.21.
Get Our Latest Stock Analysis on Marathon Petroleum
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.
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