QRG Capital Management Inc. Has $2.67 Million Stake in Marathon Petroleum Corporation $MPC

QRG Capital Management Inc. lowered its position in Marathon Petroleum Corporation (NYSE:MPC) by 39.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 13,833 shares of the oil and gas company’s stock after selling 9,065 shares during the period. QRG Capital Management Inc.’s holdings in Marathon Petroleum were worth $2,666,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Delos Wealth Advisors LLC acquired a new stake in Marathon Petroleum during the 2nd quarter worth about $25,000. Activest Wealth Management raised its position in shares of Marathon Petroleum by 290.2% during the second quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 119 shares during the period. NewSquare Capital LLC lifted its holdings in shares of Marathon Petroleum by 103.1% in the 2nd quarter. NewSquare Capital LLC now owns 199 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 101 shares in the last quarter. WFA of San Diego LLC bought a new position in shares of Marathon Petroleum in the 2nd quarter worth $33,000. Finally, Transce3nd LLC grew its position in Marathon Petroleum by 10,250.0% in the 2nd quarter. Transce3nd LLC now owns 207 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 205 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on MPC. Raymond James Financial lowered their price objective on shares of Marathon Petroleum from $215.00 to $205.00 and set an “outperform” rating on the stock in a report on Monday, December 22nd. Wells Fargo & Company reduced their price target on shares of Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Citigroup dropped their target price on shares of Marathon Petroleum from $185.00 to $182.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 14th. JPMorgan Chase & Co. decreased their price target on shares of Marathon Petroleum from $211.00 to $179.00 and set a “neutral” rating for the company in a research note on Tuesday, January 13th. Finally, Wall Street Zen lowered Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $195.71.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $175.51 on Tuesday. The business has a 50-day simple moving average of $181.40 and a 200 day simple moving average of $180.75. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $202.29. The stock has a market cap of $52.76 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 0.72 and a beta of 0.74. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.01. The firm had revenue of $34.81 billion for 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%. On average, research analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, November 19th. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s dividend payout ratio is currently 42.64%.

About Marathon Petroleum

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.