Oppenheimer Asset Management Inc. Reduces Stake in Marathon Petroleum Corporation $MPC

Oppenheimer Asset Management Inc. lowered its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 22.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Delos Wealth Advisors LLC bought a new position in shares of Marathon Petroleum during the 2nd quarter worth $25,000. Activest Wealth Management lifted its holdings in Marathon Petroleum by 290.2% during the second quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 119 shares during the last quarter. NewSquare Capital LLC boosted its position in Marathon Petroleum by 103.1% during the second quarter. NewSquare Capital LLC now owns 199 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 101 shares during the period. WFA of San Diego LLC bought a new position in Marathon Petroleum during the second quarter worth about $33,000. Finally, Transce3nd LLC increased its stake in shares of Marathon Petroleum by 10,250.0% in the second quarter. Transce3nd LLC now owns 207 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 205 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

MPC has been the subject of a number of recent research reports. Jefferies Financial Group reduced their price objective on shares of Marathon Petroleum from $216.00 to $205.00 and set a “buy” rating for the company in a research note on Monday, January 26th. Raymond James Financial lifted their price target on Marathon Petroleum from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Wells Fargo & Company boosted their price objective on Marathon Petroleum from $213.00 to $217.00 and gave the company an “overweight” rating in a research note on Wednesday, February 4th. Mizuho raised their target price on Marathon Petroleum from $198.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 13th. Finally, Scotiabank reiterated an “outperform” rating and set a $174.00 price target on shares of Marathon Petroleum in a research report on Friday, January 16th. Ten research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $202.19.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $204.16 on Wednesday. The company has a market capitalization of $61.37 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 1.38 and a beta of 0.74. The business has a 50 day moving average of $178.04 and a 200 day moving average of $181.63. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $206.45.

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

Marathon Petroleum Dividend Announcement

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

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.