Ghe LLC trimmed its holdings in Marathon Petroleum Co. (NYSE:MPC – Get Rating) by 26.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,111 shares of the oil and gas company's stock after selling 10,346 shares during the quarter. Marathon Petroleum comprises 2.7% of Ghe LLC's portfolio, making the stock its 10th biggest holding. Ghe LLC's holdings in Marathon Petroleum were worth $2,489,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in MPC. State Street Corp raised its holdings in Marathon Petroleum by 0.9% during the 1st quarter. State Street Corp now owns 41,765,374 shares of the oil and gas company's stock worth $3,570,939,000 after purchasing an additional 371,647 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Marathon Petroleum by 21.9% during the 1st quarter. Bank of New York Mellon Corp now owns 12,481,878 shares of the oil and gas company's stock worth $1,067,202,000 after purchasing an additional 2,244,421 shares during the last quarter. Invesco Ltd. raised its holdings in Marathon Petroleum by 39.0% during the 1st quarter. Invesco Ltd. now owns 6,695,296 shares of the oil and gas company's stock worth $572,449,000 after purchasing an additional 1,878,976 shares during the last quarter. Norges Bank bought a new stake in Marathon Petroleum during the 4th quarter worth about $411,853,000. Finally, Canada Pension Plan Investment Board raised its holdings in Marathon Petroleum by 7.6% during the 4th quarter. Canada Pension Plan Investment Board now owns 3,314,907 shares of the oil and gas company's stock worth $212,121,000 after purchasing an additional 234,319 shares during the last quarter. 78.69% of the stock is owned by institutional investors.
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Analyst Ratings Changes
A number of brokerages have recently commented on MPC. StockNews.com raised Marathon Petroleum from a "buy" rating to a "strong-buy" rating in a research note on Sunday, September 11th. BMO Capital Markets initiated coverage on Marathon Petroleum in a research report on Monday, June 13th. They set an "outperform" rating and a $135.00 price target for the company. Barclays upped their price objective on Marathon Petroleum from $94.00 to $112.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 16th. Morgan Stanley upped their price objective on Marathon Petroleum from $115.00 to $120.00 and gave the stock an "overweight" rating in a research note on Friday, July 15th. Finally, Cowen increased their price target on Marathon Petroleum to $129.00 in a research note on Tuesday, September 20th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Marathon Petroleum has an average rating of "Buy" and a consensus price target of $116.54.
Marathon Petroleum Stock Down 1.4 %
Shares of NYSE:MPC opened at $98.70 on Friday. The stock has a market cap of $49.21 billion, a price-to-earnings ratio of 6.67, a PEG ratio of 0.20 and a beta of 1.70. The company has a quick ratio of 1.10, a current ratio of 1.49 and a debt-to-equity ratio of 0.79. Marathon Petroleum Co. has a 12-month low of $59.55 and a 12-month high of $114.35. The business's 50 day moving average is $96.34 and its 200 day moving average is $92.16.
Marathon Petroleum (NYSE:MPC – Get Rating) last announced its earnings results on Tuesday, August 2nd. The oil and gas company reported $10.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.98 by $5.63. The company had revenue of $54.33 billion for the quarter, compared to analysts' expectations of $44.26 billion. Marathon Petroleum had a return on equity of 23.85% and a net margin of 5.09%. Marathon Petroleum's quarterly revenue was up 82.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.67 earnings per share. On average, sell-side analysts forecast that Marathon Petroleum Co. will post 21.77 earnings per share for the current fiscal year.
Marathon Petroleum Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Wednesday, August 17th were given a $0.58 dividend. The ex-dividend date was Tuesday, August 16th. This represents a $2.32 annualized dividend and a yield of 2.35%. Marathon Petroleum's dividend payout ratio is currently 15.68%.
Insiders Place Their Bets
In other Marathon Petroleum news, VP Carl Kristopher Hagedorn sold 14,353 shares of the business's stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $105.41, for a total value of $1,512,949.73. Following the transaction, the vice president now owns 7,873 shares of the company's stock, valued at $829,892.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Marathon Petroleum news, VP Carl Kristopher Hagedorn sold 14,353 shares of the business's stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $105.41, for a total value of $1,512,949.73. Following the transaction, the vice president now owns 7,873 shares of the company's stock, valued at $829,892.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Suzanne Gagle sold 35,174 shares of the business's stock in a transaction on Monday, September 19th. The stock was sold at an average price of $93.57, for a total value of $3,291,231.18. Following the completion of the transaction, the senior vice president now directly owns 43,996 shares in the company, valued at approximately $4,116,705.72. The disclosure for this sale can be found here. Insiders own 0.28% of the company's stock.
Marathon Petroleum Company Profile
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Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. 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.
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