Sei Investments Co. Boosts Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Sei Investments Co. lifted its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 7.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,139 shares of the oil and gas company’s stock after acquiring an additional 11,013 shares during the period. Sei Investments Co.’s holdings in Marathon Petroleum were worth $30,657,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Scarborough Advisors LLC lifted its position in shares of Marathon Petroleum by 10.7% in the fourth quarter. Scarborough Advisors LLC now owns 2,174 shares of the oil and gas company’s stock worth $323,000 after buying an additional 210 shares in the last quarter. Global Assets Advisory LLC purchased a new position in Marathon Petroleum during the 1st quarter worth $36,823,000. First Horizon Advisors Inc. increased its holdings in Marathon Petroleum by 8.9% during the 4th quarter. First Horizon Advisors Inc. now owns 1,174 shares of the oil and gas company’s stock worth $174,000 after purchasing an additional 96 shares during the period. Canoe Financial LP bought a new stake in Marathon Petroleum during the 4th quarter valued at $33,604,000. Finally, Allworth Financial LP boosted its position in Marathon Petroleum by 3.2% during the 4th quarter. Allworth Financial LP now owns 10,899 shares of the oil and gas company’s stock valued at $1,617,000 after acquiring an additional 340 shares in the last quarter. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Stock Up 0.8 %

Marathon Petroleum stock traded up $1.25 during midday trading on Monday, hitting $166.71. 2,085,315 shares of the stock were exchanged, compared to its average volume of 2,688,525. Marathon Petroleum Co. has a 1 year low of $117.28 and a 1 year high of $221.11. The firm has a market cap of $58.74 billion, a P/E ratio of 8.41, a P/E/G ratio of 1.63 and a beta of 1.40. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 0.99. The company has a 50 day moving average price of $174.11 and a two-hundred day moving average price of $177.21.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.25. The firm had revenue of $32.71 billion for the quarter, compared to the consensus estimate of $32.07 billion. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.09 EPS. On average, sell-side analysts predict that Marathon Petroleum Co. will post 16.9 earnings per share for the current fiscal year.

Marathon Petroleum declared that its board has approved a stock buyback plan on Tuesday, April 30th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the oil and gas company to repurchase up to 7.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Thursday, May 16th were given a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.98%. The ex-dividend date was Wednesday, May 15th. Marathon Petroleum’s payout ratio is currently 16.48%.

Wall Street Analysts Forecast Growth

MPC has been the subject of a number of recent analyst reports. Jefferies Financial Group raised their price objective on Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a research report on Monday. The Goldman Sachs Group lifted their price objective on Marathon Petroleum from $175.00 to $211.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Tudor Pickering upgraded Marathon Petroleum to a “strong-buy” rating in a research note on Thursday, May 30th. Mizuho lowered their price objective on Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Finally, Raymond James lowered their price objective on Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating on the stock in a report on Thursday, May 30th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $193.15.

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.