Marathon Petroleum Corporation $MPC Shares Acquired by NewEdge Wealth LLC

NewEdge Wealth LLC increased its position in Marathon Petroleum Corporation (NYSE:MPC) by 89.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,450 shares of the oil and gas company’s stock after purchasing an additional 3,047 shares during the quarter. NewEdge Wealth LLC’s holdings in Marathon Petroleum were worth $1,201,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of 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 acquiring an additional 3,924,713 shares in the last quarter. Geode Capital Management LLC boosted 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 last quarter. Boston Partners grew its stake in Marathon Petroleum by 13.1% during the 2nd quarter. Boston Partners now owns 6,163,737 shares of the oil and gas company’s stock valued at $1,024,395,000 after purchasing an additional 715,223 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Marathon Petroleum by 12.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,619,398 shares of the oil and gas company’s stock worth $933,438,000 after purchasing an additional 637,050 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Marathon Petroleum in the 2nd quarter valued at approximately $527,197,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 0.2%

NYSE MPC opened at $196.77 on Monday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.79 and a current ratio of 1.32. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $210.32. The company has a 50-day simple moving average of $179.89 and a 200-day simple moving average of $183.39. The firm has a market capitalization of $59.15 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 1.28 and a beta of 0.74.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.34. Marathon Petroleum had a net margin of 2.99% and a return on equity of 14.00%. The firm had revenue of $35.10 billion for the quarter, compared to analyst estimates of $30.89 billion. During the same quarter in the prior year, the business earned $0.77 earnings per share. Marathon Petroleum’s quarterly revenue was down .1% on a year-over-year basis. On average, equities analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Wednesday, February 18th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. Marathon Petroleum’s dividend payout ratio (DPR) is 29.96%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MPC shares. The Goldman Sachs Group raised their price target on shares of Marathon Petroleum from $204.00 to $211.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. TD Cowen raised their price objective on shares of Marathon Petroleum from $183.00 to $198.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Marathon Petroleum in a research report on Thursday, January 22nd. BMO Capital Markets increased their price target on shares of Marathon Petroleum from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, February 9th. Finally, Wells Fargo & Company boosted their price objective on Marathon Petroleum from $213.00 to $217.00 and gave the company an “overweight” rating in a report on Wednesday, February 4th. Ten equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $202.19.

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.