Marathon Petroleum Corporation $MPC Shares Acquired by NewEdge Wealth LLC

NewEdge Wealth LLC boosted its position in Marathon Petroleum Corporation (NYSE:MPC) by 89.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 6,450 shares of the oil and gas company’s stock after buying 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 & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of MPC. Alberta Investment Management Corp acquired a new position in shares of Marathon Petroleum during the third quarter worth approximately $2,891,000. Essex Financial Services Inc. bought a new stake in Marathon Petroleum during the 3rd quarter valued at $394,000. Syon Capital LLC boosted its position in Marathon Petroleum by 4.9% during the 3rd quarter. Syon Capital LLC now owns 17,595 shares of the oil and gas company’s stock worth $3,391,000 after acquiring an additional 827 shares during the period. Axxcess Wealth Management LLC grew its stake in shares of Marathon Petroleum by 43.2% in the third quarter. Axxcess Wealth Management LLC now owns 9,441 shares of the oil and gas company’s stock worth $1,820,000 after purchasing an additional 2,848 shares in the last quarter. Finally, Drucker Wealth 3.0 LLC acquired a new position in shares of Marathon Petroleum during the third quarter valued at $287,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Up 0.2%

MPC stock opened at $196.77 on Monday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79. The firm has a market cap of $59.15 billion, a PE ratio of 14.74, a P/E/G ratio of 1.28 and a beta of 0.74. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $210.32. The firm has a 50 day simple moving average of $179.89 and a 200 day simple moving average of $183.39.

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

Marathon Petroleum Dividend Announcement

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

Analysts Set New Price Targets

MPC has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. JPMorgan Chase & Co. reduced 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. Citigroup raised their price objective on shares of Marathon Petroleum from $182.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Scotiabank reissued an “outperform” rating and set a $174.00 target price on shares of Marathon Petroleum in a report on Friday, January 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marathon Petroleum in a research note on Thursday, January 22nd. Ten investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $202.19.

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.