Citizens Financial Group Inc. RI Raises Holdings in Marathon Petroleum Corporation $MPC

Citizens Financial Group Inc. RI boosted its stake in Marathon Petroleum Corporation (NYSE:MPC) by 6.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,979 shares of the oil and gas company’s stock after purchasing an additional 4,754 shares during the period. Citizens Financial Group Inc. RI’s holdings in Marathon Petroleum were worth $14,259,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Marathon Petroleum by 11.2% during 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 stake in Marathon Petroleum in the 2nd quarter worth $527,197,000. Geode Capital Management LLC increased its position in shares of 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 acquiring an additional 1,033,645 shares during the period. Boston Partners raised its stake in shares of Marathon Petroleum by 13.1% during the second quarter. Boston Partners now owns 6,163,737 shares of the oil and gas company’s stock valued at $1,024,395,000 after acquiring an additional 715,223 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of Marathon Petroleum by 27,979.8% during the second quarter. Balyasny Asset Management L.P. now owns 659,595 shares of the oil and gas company’s stock worth $109,565,000 after purchasing an additional 657,246 shares during the period. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Down 0.4%

Shares of Marathon Petroleum stock opened at $176.39 on Monday. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $202.29. The firm has a market cap of $53.02 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 0.70 and a beta of 0.74. The company has a 50-day moving average of $183.16 and a 200 day moving average of $180.44. 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 data on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.01. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. The business had revenue of $34.81 billion for the quarter, compared to analysts’ expectations of $31.06 billion. As a group, sell-side 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 disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Wednesday, November 19th were given 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 was Wednesday, November 19th. This represents a $4.00 dividend on an annualized basis and a yield of 2.3%. Marathon Petroleum’s dividend payout ratio is 42.64%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on MPC shares. JPMorgan Chase & Co. upped their price target on Marathon Petroleum from $183.00 to $211.00 and gave the company a “neutral” rating in a research report on Wednesday, November 12th. Evercore ISI upped their target price on Marathon Petroleum from $170.00 to $210.00 and gave the company an “in-line” rating in a report on Friday, September 19th. Wall Street Zen lowered Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Marathon Petroleum in a research report on Wednesday, October 8th. Finally, UBS Group raised their target price on shares of Marathon Petroleum from $203.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, Marathon Petroleum has an average rating of “Moderate Buy” and an average target price of $199.71.

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.