Oppenheimer Asset Management Inc. Has $7.19 Million Stock Holdings in Marathon Petroleum Corporation $MPC

Oppenheimer Asset Management Inc. lessened its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 2.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 43,306 shares of the oil and gas company’s stock after selling 1,081 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Marathon Petroleum were worth $7,194,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Marathon Petroleum by 12.3% during the first quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company’s stock worth $5,090,611,000 after acquiring an additional 3,834,501 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Marathon Petroleum by 18.7% during the 1st quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock worth $1,722,664,000 after purchasing an additional 1,862,674 shares during the last quarter. Raymond James Financial Inc. lifted its holdings in Marathon Petroleum by 6.3% during the 1st quarter. Raymond James Financial Inc. now owns 6,037,532 shares of the oil and gas company’s stock worth $879,608,000 after purchasing an additional 355,215 shares during the last quarter. Boston Partners lifted its holdings in Marathon Petroleum by 58.5% during the 1st quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock worth $791,274,000 after purchasing an additional 2,011,810 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Marathon Petroleum by 3.7% during the first quarter. Bank of New York Mellon Corp now owns 4,982,348 shares of the oil and gas company’s stock worth $725,878,000 after buying an additional 178,397 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Morgan Stanley lifted their target price on Marathon Petroleum from $182.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, October 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Marathon Petroleum in a research note on Wednesday, October 8th. TD Cowen dropped their price target on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Dbs Bank upgraded shares of Marathon Petroleum to a “moderate buy” rating in a research report on Monday, July 28th. Finally, Bank of America lifted their price target on shares of Marathon Petroleum from $184.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $200.31.

Insider Buying and Selling

In related news, insider Molly R. Benson sold 10,879 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the transaction, the insider directly owned 28,700 shares in the company, valued at $4,678,100. This represents a 27.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

Marathon Petroleum Stock Down 0.0%

Shares of MPC opened at $196.13 on Tuesday. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $201.61. The company has a market cap of $59.63 billion, a P/E ratio of 29.10, a P/E/G ratio of 4.11 and a beta of 0.90. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. The firm has a 50 day simple moving average of $184.19 and a two-hundred day simple moving average of $167.95.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS 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 company had revenue of $34.10 billion during the quarter, compared to analysts’ expectations of $31.70 billion. During the same quarter in the previous year, the firm earned $4.12 EPS. Marathon Petroleum’s revenue was down 11.1% on a year-over-year basis. Research analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

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

About Marathon Petroleum

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.