Marathon Petroleum Co. (NYSE:MPC) Stock Holdings Increased by Bank of The West

Bank of The West raised its stake in Marathon Petroleum Co. (NYSE:MPC) by 7.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,808 shares of the oil and gas company’s stock after buying an additional 1,504 shares during the period. Bank of The West’s holdings in Marathon Petroleum were worth $1,378,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in MPC. Lord Abbett & CO. LLC boosted its position in shares of Marathon Petroleum by 372.5% in the 1st quarter. Lord Abbett & CO. LLC now owns 4,530,008 shares of the oil and gas company’s stock valued at $242,311,000 after purchasing an additional 3,571,177 shares during the period. Boston Partners lifted its stake in Marathon Petroleum by 18.0% during the first quarter. Boston Partners now owns 12,170,779 shares of the oil and gas company’s stock valued at $650,960,000 after buying an additional 1,855,636 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of Marathon Petroleum by 83.7% in the first quarter. Nuveen Asset Management LLC now owns 3,845,137 shares of the oil and gas company’s stock worth $205,676,000 after buying an additional 1,751,805 shares during the period. Janus Henderson Group PLC increased its position in shares of Marathon Petroleum by 181.3% in the first quarter. Janus Henderson Group PLC now owns 2,108,808 shares of the oil and gas company’s stock worth $112,800,000 after acquiring an additional 1,359,251 shares in the last quarter. Finally, MUFG Securities EMEA plc lifted its position in shares of Marathon Petroleum by 985.3% in the 1st quarter. MUFG Securities EMEA plc now owns 1,421,800 shares of the oil and gas company’s stock valued at $76,052,000 after acquiring an additional 1,290,800 shares in the last quarter. Institutional investors own 76.24% of the company’s stock.

Marathon Petroleum stock opened at $57.13 on Tuesday. Marathon Petroleum Co. has a one year low of $26.56 and a one year high of $64.84. The company’s fifty day moving average price is $56.69 and its two-hundred day moving average price is $57.53. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.98 and a quick ratio of 1.52. The company has a market capitalization of $36.46 billion, a price-to-earnings ratio of 5.03, a PEG ratio of 6.66 and a beta of 2.18.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, August 3rd. The oil and gas company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.28. Marathon Petroleum had a negative return on equity of 3.09% and a net margin of 8.42%. The company had revenue of $29.83 billion during the quarter, compared to the consensus estimate of $21.24 billion. During the same quarter in the prior year, the company posted ($1.33) EPS. The firm’s revenue was up 142.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Marathon Petroleum Co. will post 1.11 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Wednesday, August 18th were given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend was Tuesday, August 17th. Marathon Petroleum’s dividend payout ratio is -67.44%.

Several analysts have issued reports on the stock. Morgan Stanley assumed coverage on shares of Marathon Petroleum in a research note on Tuesday, September 7th. They set an “overweight” rating and a $75.00 target price on the stock. Wells Fargo & Company upped their price target on Marathon Petroleum from $66.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, June 24th. Raymond James restated a “buy” rating and set a $82.00 price objective on shares of Marathon Petroleum in a research report on Monday, July 12th. Bank of America reaffirmed a “buy” rating and set a $83.00 target price on shares of Marathon Petroleum in a research note on Wednesday, June 16th. Finally, Barclays decreased their price target on shares of Marathon Petroleum from $71.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, July 9th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Marathon Petroleum presently has a consensus rating of “Buy” and an average price target of $66.62.

About Marathon Petroleum

Marathon Petroleum Corp. is an independent company, which engages in refining, marketing, and transportation of petroleum products in the United States. Itoperates through the following segments: Refining and Marketing; Retail; and Midstream. The Refining and Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States; purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals, and trucks that the company owns or operates.

Further Reading: Earnings Reports

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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