Oak Harvest Investment Services Has $328,000 Holdings in Marathon Petroleum Co. (NYSE:MPC)

Oak Harvest Investment Services grew its position in Marathon Petroleum Co. (NYSE:MPC) by 5.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,628 shares of the oil and gas company’s stock after purchasing an additional 80 shares during the quarter. Oak Harvest Investment Services’ holdings in Marathon Petroleum were worth $328,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Marathon Petroleum in the fourth quarter valued at about $500,685,000. Assenagon Asset Management S.A. grew its position in shares of Marathon Petroleum by 256.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 884,573 shares of the oil and gas company’s stock worth $131,235,000 after purchasing an additional 636,281 shares in the last quarter. Schroder Investment Management Group increased its holdings in shares of Marathon Petroleum by 309.9% during the fourth quarter. Schroder Investment Management Group now owns 643,590 shares of the oil and gas company’s stock worth $95,483,000 after purchasing an additional 486,573 shares during the period. International Assets Investment Management LLC raised its position in shares of Marathon Petroleum by 248.1% in the fourth quarter. International Assets Investment Management LLC now owns 608,888 shares of the oil and gas company’s stock valued at $90,335,000 after buying an additional 433,977 shares in the last quarter. Finally, Canoe Financial LP acquired a new stake in Marathon Petroleum during the fourth quarter worth approximately $33,604,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 0.5 %

NYSE:MPC traded up $0.85 during mid-day trading on Thursday, hitting $174.99. 1,344,597 shares of the company’s stock were exchanged, compared to its average volume of 2,601,003. The company has a current ratio of 1.43, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. Marathon Petroleum Co. has a fifty-two week low of $112.82 and a fifty-two week high of $221.11. The company has a 50 day simple moving average of $177.24 and a 200-day simple moving average of $176.30. The firm has a market capitalization of $61.65 billion, a P/E ratio of 8.74, a PEG ratio of 1.63 and a beta of 1.40.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.25. The company had revenue of $32.71 billion for the quarter, compared to analysts’ expectations of $32.07 billion. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. Marathon Petroleum’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.09 earnings per share. As a group, research analysts expect that Marathon Petroleum Co. will post 17.85 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio is presently 16.48%.

Marathon Petroleum declared that its board has initiated a stock repurchase plan on Tuesday, April 30th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to buy up to 7.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have weighed in on MPC shares. JPMorgan Chase & Co. dropped their price objective on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a report on Tuesday. Barclays cut their price objective on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a research report on Monday. Mizuho decreased their target price on shares of Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Scotiabank boosted their target price on shares of Marathon Petroleum from $175.00 to $207.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Finally, Bank of America increased their price target on shares of Marathon Petroleum from $185.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and an average price target of $191.31.

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.