Smith Group Asset Management LLC Acquires 1,574 Shares of Marathon Petroleum Corporation $MPC

Smith Group Asset Management LLC raised its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 2.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,675 shares of the oil and gas company’s stock after purchasing an additional 1,574 shares during the quarter. Smith Group Asset Management LLC’s holdings in Marathon Petroleum were worth $12,736,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Baker Tilly Wealth Management LLC lifted its position in shares of Marathon Petroleum by 2.8% during the second quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company’s stock worth $370,000 after purchasing an additional 60 shares during the last quarter. CHICAGO TRUST Co NA increased its stake in shares of Marathon Petroleum by 3.9% during the second quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company’s stock valued at $280,000 after buying an additional 63 shares during the period. Werba Rubin Papier Wealth Management increased its stake in shares of Marathon Petroleum by 4.2% during the second quarter. Werba Rubin Papier Wealth Management now owns 1,577 shares of the oil and gas company’s stock valued at $262,000 after buying an additional 64 shares during the period. Sunpointe LLC increased its stake in shares of Marathon Petroleum by 4.1% during the second quarter. Sunpointe LLC now owns 1,750 shares of the oil and gas company’s stock valued at $291,000 after buying an additional 69 shares during the period. Finally, Wallace Advisory Group LLC increased its stake in shares of Marathon Petroleum by 3.4% during the second quarter. Wallace Advisory Group LLC now owns 2,258 shares of the oil and gas company’s stock valued at $375,000 after buying an additional 75 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Price Performance

Shares of MPC stock opened at $195.95 on Friday. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $201.61. The firm has a market capitalization of $59.57 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 3.95 and a beta of 0.90. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. The stock’s 50-day simple moving average is $182.85 and its 200-day simple moving average is $166.38.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The business had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. During the same quarter in the previous year, the firm earned $4.12 earnings per share. The company’s revenue was down 11.1% on a year-over-year basis. As a group, equities analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.9%. Marathon Petroleum’s payout ratio is 54.01%.

Insider Activity at Marathon Petroleum

In related news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the sale, the insider owned 28,700 shares of the company’s stock, valued at $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.21% of the stock is owned by company insiders.

Analysts Set New Price Targets

MPC has been the topic of several research reports. Dbs Bank upgraded Marathon Petroleum to a “moderate buy” rating in a research note on Monday, July 28th. Bank of America raised their price target on Marathon Petroleum from $184.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, September 3rd. Raymond James Financial restated an “outperform” rating and set a $203.00 price target (up previously from $199.00) on shares of Marathon Petroleum in a research note on Friday, October 17th. Barclays raised their price target on Marathon Petroleum from $176.00 to $194.00 and gave the company an “overweight” rating in a research note on Monday, October 13th. Finally, BMO Capital Markets lifted their target price on Marathon Petroleum from $195.00 to $208.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus price target of $200.31.

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.