Oppenheimer Asset Management Inc. Sells 9,920 Shares of Marathon Petroleum Corporation $MPC

Oppenheimer Asset Management Inc. reduced its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 22.9% in the third quarter, HoldingsChannel reports. The fund owned 33,386 shares of the oil and gas company’s stock after selling 9,920 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Marathon Petroleum were worth $6,435,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MPC. Vanguard Group Inc. boosted its stake in Marathon Petroleum by 11.2% in 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 purchasing an additional 3,924,713 shares in the last quarter. Norges Bank bought a new stake in shares of Marathon Petroleum in the second quarter worth $527,197,000. Geode Capital Management LLC grew its stake in shares of Marathon Petroleum by 14.8% during 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 period. Boston Partners grew its position in Marathon Petroleum by 13.1% during the second quarter. Boston Partners now owns 6,163,737 shares of the oil and gas company’s stock valued at $1,024,395,000 after buying an additional 715,223 shares during the period. Finally, Balyasny Asset Management L.P. increased its stake in shares of Marathon Petroleum by 27,979.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 659,595 shares of the oil and gas company’s stock worth $109,565,000 after purchasing an additional 657,246 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Down 0.0%

Shares of MPC stock opened at $204.16 on Wednesday. The company has a market cap of $61.37 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79. The stock’s 50 day simple moving average is $178.04 and its two-hundred day simple moving average is $181.63. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $206.45.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 EPS for the quarter, beating the consensus estimate of $3.73 by $0.34. The company had revenue of $35.10 billion for the quarter, compared to the consensus estimate of $30.89 billion. Marathon Petroleum had a net margin of 2.99% and a return on equity of 14.00%. The firm’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 EPS. Research analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 18th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $4.00 dividend on an annualized basis and a yield of 2.0%. Marathon Petroleum’s payout ratio is 29.96%.

Analyst Ratings Changes

MPC has been the subject of several analyst reports. Citigroup increased their target price on shares of Marathon Petroleum from $182.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday. UBS Group reiterated a “buy” rating and issued a $221.00 price target on shares of Marathon Petroleum in a report on Friday. Raymond James Financial increased their price objective on shares of Marathon Petroleum from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. reduced their target price on Marathon Petroleum from $211.00 to $179.00 and set a “neutral” rating on the stock in a report on Tuesday, January 13th. Finally, Jefferies Financial Group decreased their target price on Marathon Petroleum from $216.00 to $205.00 and set a “buy” rating on the stock in a research report on Monday, January 26th. Ten investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $202.19.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.