Lewis Asset Management LLC Buys New Shares in Marathon Petroleum Corporation $MPC

Lewis Asset Management LLC bought a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,093 shares of the oil and gas company’s stock, valued at approximately $511,000.

Several other large investors have also recently added to or reduced their stakes in MPC. Norges Bank bought a new position in Marathon Petroleum in the fourth quarter worth $472,312,000. Capital Wealth Planning LLC increased its holdings in Marathon Petroleum by 49,392.0% in the 4th quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock valued at $245,157,000 after buying an additional 1,495,097 shares during the period. Pacer Advisors Inc. raised its stake in shares of Marathon Petroleum by 3,816.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company’s stock valued at $212,517,000 after buying an additional 1,273,386 shares in the last quarter. Man Group plc lifted its holdings in shares of Marathon Petroleum by 2,175.0% during the 4th quarter. Man Group plc now owns 568,790 shares of the oil and gas company’s stock worth $92,502,000 after acquiring an additional 543,788 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Marathon Petroleum by 104.8% during the 4th quarter. Victory Capital Management Inc. now owns 1,055,897 shares of the oil and gas company’s stock worth $171,721,000 after acquiring an additional 540,283 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Raymond James Financial upped their target price on shares of Marathon Petroleum from $285.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, June 10th. BMO Capital Markets reiterated an “outperform” rating on shares of Marathon Petroleum in a research note on Friday, June 12th. Zacks Research downgraded Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 17th. UBS Group set a $285.00 price target on Marathon Petroleum in a research report on Wednesday, May 6th. Finally, Barclays increased their price objective on Marathon Petroleum from $230.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Ten research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $272.94.

Insider Buying and Selling at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were 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. The trade was a 27.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.17% of the stock is currently owned by corporate insiders.

Marathon Petroleum Trading Up 0.1%

Shares of MPC opened at $253.78 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18. The company has a market cap of $74.09 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 0.39 and a beta of 0.52. The stock has a fifty day moving average price of $247.79 and a two-hundred day moving average price of $216.35. Marathon Petroleum Corporation has a 52-week low of $158.00 and a 52-week high of $272.46.

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 (EPS) 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 business had revenue of $34.20 billion for the quarter, compared to the consensus estimate of $33.42 billion. During the same quarter in the prior year, the company earned ($0.24) EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. Analysts predict that Marathon Petroleum Corporation will post 31.35 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Wednesday, May 20th. Marathon Petroleum’s dividend payout ratio is 26.11%.

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.