Assenagon Asset Management S.A. Boosts Holdings in Marathon Petroleum Corporation $MPC

Assenagon Asset Management S.A. boosted its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 846.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,115 shares of the oil and gas company’s stock after buying an additional 66,288 shares during the period. Assenagon Asset Management S.A.’s holdings in Marathon Petroleum were worth $14,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in MPC. Brighton Jones LLC lifted its holdings in shares of Marathon Petroleum by 30.9% during the fourth quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock worth $696,000 after purchasing an additional 1,178 shares during the period. Dorsey & Whitney Trust CO LLC lifted its stake in Marathon Petroleum by 4.2% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 4,472 shares of the oil and gas company’s stock valued at $652,000 after buying an additional 181 shares in the last quarter. PGIM Custom Harvest LLC acquired a new position in Marathon Petroleum in the 1st quarter valued at $209,000. Price T Rowe Associates Inc. MD raised its holdings in Marathon Petroleum by 26.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,675,362 shares of the oil and gas company’s stock valued at $535,465,000 after acquiring an additional 769,015 shares during the last quarter. Finally, Summit Financial LLC raised its holdings in shares of Marathon Petroleum by 42.6% during the 1st quarter. Summit Financial LLC now owns 5,098 shares of the oil and gas company’s stock worth $743,000 after acquiring an additional 1,522 shares during the period. 76.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MPC shares. Barclays raised their price objective on Marathon Petroleum from $194.00 to $202.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Wall Street Zen cut Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Saturday. BMO Capital Markets reiterated an “outperform” rating on shares of Marathon Petroleum in a research note on Tuesday, December 9th. Raymond James Financial boosted their price objective on shares of Marathon Petroleum from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Tuesday, November 25th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Marathon Petroleum from $183.00 to $211.00 and gave the company a “neutral” rating in a research note on Wednesday, November 12th. Eight analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Marathon Petroleum presently has an average rating of “Hold” and a consensus price target of $203.79.

Marathon Petroleum Stock Down 0.1%

Shares of NYSE MPC opened at $167.91 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.79 and a current ratio of 1.32. The stock’s 50-day simple moving average is $189.66 and its 200-day simple moving average is $179.87. The firm has a market cap of $50.47 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 0.87 and a beta of 0.72. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $202.29.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.01. The company had revenue of $34.81 billion during the quarter, compared to analyst estimates of $31.06 billion. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. As a group, equities analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th were given a $1.00 dividend. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.91. This represents a $4.00 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Wednesday, November 19th. Marathon Petroleum’s dividend payout ratio is 42.64%.

Marathon Petroleum 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.