Edgestream Partners L.P. Purchases 6,499 Shares of Marathon Petroleum Corporation $MPC

Edgestream Partners L.P. raised its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 108.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,469 shares of the oil and gas company’s stock after purchasing an additional 6,499 shares during the quarter. Edgestream Partners L.P.’s holdings in Marathon Petroleum were worth $2,071,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MPC. Vanguard Group Inc. grew its position in Marathon Petroleum by 11.2% during the second quarter. Vanguard Group Inc. now owns 38,866,104 shares of the oil and gas company’s stock valued at $6,456,049,000 after buying an additional 3,924,713 shares during the period. Wellington Management Group LLP boosted its stake in shares of Marathon Petroleum by 18.7% during the 1st quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock worth $1,722,664,000 after acquiring an additional 1,862,674 shares during the last quarter. Geode Capital Management LLC grew its position 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 acquiring an additional 1,033,645 shares during the period. Boston Partners increased its stake in shares of Marathon Petroleum by 13.1% in the 2nd quarter. Boston Partners now owns 6,163,737 shares of the oil and gas company’s stock worth $1,024,395,000 after purchasing an additional 715,223 shares in the last quarter. Finally, Raymond James Financial Inc. raised its holdings in Marathon Petroleum by 6.3% in the 1st quarter. Raymond James Financial Inc. now owns 6,037,532 shares of the oil and gas company’s stock worth $879,608,000 after purchasing an additional 355,215 shares during the period. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Up 0.4%

NYSE MPC opened at $190.13 on Friday. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $202.29. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 1.31. The stock has a market cap of $57.15 billion, a PE ratio of 20.27, a P/E/G ratio of 0.97 and a beta of 0.72. The stock’s 50 day moving average is $191.68 and its 200 day moving average is $178.13.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.01. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. The firm had revenue of $34.81 billion for the quarter, compared to analysts’ expectations of $31.06 billion. Research analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th will be issued a dividend of $1.00 per share. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $4.00 annualized dividend and a dividend yield of 2.1%. Marathon Petroleum’s payout ratio is currently 42.64%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MPC. Evercore ISI boosted their price target on Marathon Petroleum from $170.00 to $210.00 and gave the company an “in-line” rating in a report on Friday, September 19th. Wells Fargo & Company lowered their price objective on Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Barclays increased their target price on shares of Marathon Petroleum from $194.00 to $202.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Piper Sandler lifted their price target on shares of Marathon Petroleum from $220.00 to $231.00 and gave the company a “neutral” rating in a report on Friday, November 14th. Finally, JPMorgan Chase & Co. upped their price target on shares of Marathon Petroleum from $183.00 to $211.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. Eight analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Hold” and an average price target of $203.21.

Marathon Petroleum Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. 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 and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.