Advisory Services Network LLC Purchases 8,683 Shares of Marathon Petroleum Co. (NYSE:MPC)

Advisory Services Network LLC grew its position in shares of Marathon Petroleum Co. (NYSE:MPCGet Rating) by 36.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,766 shares of the oil and gas company’s stock after buying an additional 8,683 shares during the quarter. Advisory Services Network LLC’s holdings in Marathon Petroleum were worth $2,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of MPC. Norges Bank purchased a new stake in shares of Marathon Petroleum in the 4th quarter worth $411,853,000. Bank of New York Mellon Corp increased its stake in shares of Marathon Petroleum by 21.9% in the 1st quarter. Bank of New York Mellon Corp now owns 12,481,878 shares of the oil and gas company’s stock worth $1,067,202,000 after purchasing an additional 2,244,421 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Marathon Petroleum by 22,119.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,227,468 shares of the oil and gas company’s stock worth $190,449,000 after purchasing an additional 2,217,443 shares in the last quarter. Invesco Ltd. increased its stake in shares of Marathon Petroleum by 39.0% in the 1st quarter. Invesco Ltd. now owns 6,695,296 shares of the oil and gas company’s stock worth $572,449,000 after purchasing an additional 1,878,976 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Marathon Petroleum by 89.1% in the 1st quarter. First Trust Advisors LP now owns 1,431,767 shares of the oil and gas company’s stock worth $122,416,000 after purchasing an additional 674,456 shares in the last quarter. 78.69% of the stock is owned by institutional investors.

Marathon Petroleum Stock Down 0.5 %

Shares of NYSE:MPC opened at $95.65 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.10 and a debt-to-equity ratio of 0.79. Marathon Petroleum Co. has a 12 month low of $56.08 and a 12 month high of $114.35. The company has a 50-day moving average price of $94.19 and a 200 day moving average price of $90.87. The company has a market cap of $47.69 billion, a price-to-earnings ratio of 6.50, a PEG ratio of 0.20 and a beta of 1.70.

Marathon Petroleum (NYSE:MPCGet Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The oil and gas company reported $10.61 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $5.63. Marathon Petroleum had a net margin of 5.09% and a return on equity of 23.85%. The firm had revenue of $54.33 billion during the quarter, compared to the consensus estimate of $44.26 billion. During the same quarter last year, the firm earned $0.67 EPS. The firm’s revenue for the quarter was up 82.1% compared to the same quarter last year. As a group, equities research analysts predict that Marathon Petroleum Co. will post 21.15 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Wednesday, August 17th were issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend was Tuesday, August 16th. Marathon Petroleum’s payout ratio is 15.68%.

Analyst Ratings Changes

Several equities research analysts have recently commented on MPC shares. Raymond James upped their price objective on Marathon Petroleum from $131.00 to $133.00 and gave the stock a “strong-buy” rating in a research note on Friday, September 9th. BMO Capital Markets assumed coverage on Marathon Petroleum in a research note on Monday, June 13th. They issued an “outperform” rating and a $135.00 price target for the company. Royal Bank of Canada increased their price target on Marathon Petroleum from $110.00 to $121.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 3rd. Credit Suisse Group increased their price target on Marathon Petroleum to $130.00 in a research note on Thursday, June 9th. Finally, Morgan Stanley increased their price target on Marathon Petroleum from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, July 15th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $115.58.

Insiders Place Their Bets

In other Marathon Petroleum news, VP Carl Kristopher Hagedorn sold 14,353 shares of the firm’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $105.41, for a total value of $1,512,949.73. Following the completion of the sale, the vice president now owns 7,873 shares of the company’s stock, valued at $829,892.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.28% of the stock is owned by insiders.

About Marathon Petroleum

(Get Rating)

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. 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.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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