Baird Financial Group Inc. Has $12.21 Million Position in Marathon Petroleum Corporation $MPC

Baird Financial Group Inc. trimmed its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 4.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 73,494 shares of the oil and gas company’s stock after selling 3,189 shares during the quarter. Baird Financial Group Inc.’s holdings in Marathon Petroleum were worth $12,208,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MPC. Vanguard Group Inc. raised its holdings in Marathon Petroleum by 11.2% in the 2nd 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 last quarter. Norges Bank bought a new position in shares of Marathon Petroleum during the second quarter valued at $527,197,000. Boston Partners lifted its holdings in shares of Marathon Petroleum by 58.5% during the first quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock worth $791,274,000 after purchasing an additional 2,011,810 shares during the period. Wellington Management Group LLP grew its stake in shares of Marathon Petroleum by 18.7% in the first 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 purchasing an additional 1,862,674 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Marathon Petroleum by 14.8% in the second 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 purchasing an additional 1,033,645 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on MPC. Wells Fargo & Company reduced their price target 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marathon Petroleum in a research note on Wednesday, October 8th. Barclays increased their target price on shares of Marathon Petroleum from $194.00 to $202.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. Mizuho boosted their price target on shares of Marathon Petroleum from $184.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, September 15th. Finally, Scotiabank reiterated an “outperform” rating on shares of Marathon Petroleum in a research report on Thursday, October 9th. Eight equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $203.21.

Marathon Petroleum Stock Performance

Shares of MPC opened at $190.47 on Monday. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $202.29. The company has a market cap of $57.25 billion, a PE ratio of 20.31, a P/E/G ratio of 0.98 and a beta of 0.72. The stock has a 50-day moving average of $191.51 and a 200-day moving average of $178.60. 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 (NYSE:MPC) last announced its quarterly earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.01. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%.The business had revenue of $34.81 billion for the quarter, compared to analyst estimates of $31.06 billion. On average, equities research analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, November 19th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, November 19th. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s payout ratio is 42.64%.

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.