Marathon Petroleum Corporation $MPC Shares Purchased by Ghe LLC

Ghe LLC raised its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 1,939.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 649,542 shares of the oil and gas company’s stock after purchasing an additional 617,699 shares during the period. Marathon Petroleum accounts for approximately 33.6% of Ghe LLC’s holdings, making the stock its biggest holding. Ghe LLC’s holdings in Marathon Petroleum were worth $158,605,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MPC. Brighton Jones LLC lifted its holdings in Marathon Petroleum by 30.9% in the fourth quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock valued at $696,000 after buying an additional 1,178 shares during the period. Woodline Partners LP grew its holdings in Marathon Petroleum by 38.3% during the 1st quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company’s stock worth $3,889,000 after acquiring an additional 7,396 shares during the period. Sivia Capital Partners LLC raised its position in shares of Marathon Petroleum by 26.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,221 shares of the oil and gas company’s stock valued at $369,000 after acquiring an additional 466 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Marathon Petroleum in the 2nd quarter valued at $8,505,000. Finally, AXA S.A. boosted its position in shares of Marathon Petroleum by 46.7% in the 2nd quarter. AXA S.A. now owns 39,675 shares of the oil and gas company’s stock worth $6,590,000 after purchasing an additional 12,639 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on MPC shares. Scotiabank increased their target price on Marathon Petroleum from $174.00 to $210.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $344.00 price target on shares of Marathon Petroleum in a research note on Monday, June 15th. Raymond James Financial increased their price target on shares of Marathon Petroleum from $285.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, June 10th. The Goldman Sachs Group boosted their price objective on shares of Marathon Petroleum from $264.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, TD Cowen lowered their target price on shares of Marathon Petroleum from $320.00 to $315.00 and set a “buy” rating for the company in a research note on Monday, June 29th. Ten analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average target price of $277.31.

Insider Activity at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the transaction, the vice president owned 16,900 shares in the company, valued at $4,543,058. This trade represents a 27.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is currently owned by corporate insiders.

Marathon Petroleum Trading Down 0.0%

NYSE MPC opened at $283.60 on Monday. The stock has a market capitalization of $82.79 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 0.41 and a beta of 0.52. The stock’s 50 day moving average price is $256.82 and its two-hundred day moving average price is $222.90. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18. Marathon Petroleum Corporation has a 52 week low of $158.00 and a 52 week high of $287.15.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The company had revenue of $34.20 billion during the quarter, compared to analysts’ expectations of $33.42 billion. During the same period last year, the business earned ($0.24) EPS. The business’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, analysts anticipate that Marathon Petroleum Corporation will post 32.96 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $4.00 annualized dividend and a yield of 1.4%. Marathon Petroleum’s payout ratio is 26.11%.

About Marathon Petroleum

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.