AdvisorShares Investments LLC Purchases New Position in Marathon Petroleum Corporation $MPC

AdvisorShares Investments LLC acquired a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,350 shares of the oil and gas company’s stock, valued at approximately $574,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Marathon Petroleum in the 4th quarter valued at approximately $472,312,000. Capital Wealth Planning LLC increased its position in shares of Marathon Petroleum by 49,392.0% during the 4th quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock valued at $245,157,000 after purchasing an additional 1,495,097 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Marathon Petroleum by 3,816.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company’s stock valued at $212,517,000 after purchasing an additional 1,273,386 shares during the last quarter. Man Group plc raised its holdings in Marathon Petroleum by 2,175.0% during the 4th quarter. Man Group plc now owns 568,790 shares of the oil and gas company’s stock valued at $92,502,000 after buying an additional 543,788 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Marathon Petroleum by 104.8% during the 4th quarter. Victory Capital Management Inc. now owns 1,055,897 shares of the oil and gas company’s stock valued at $171,721,000 after buying an additional 540,283 shares during the period. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Price Performance

Shares of MPC stock opened at $266.50 on Friday. Marathon Petroleum Corporation has a twelve month low of $158.00 and a twelve month high of $272.46. The stock has a market capitalization of $77.80 billion, a price-to-earnings ratio of 17.40, a P/E/G ratio of 0.39 and a beta of 0.52. The stock has a fifty day simple moving average of $252.10 and a two-hundred day simple moving average of $218.93. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, beating the consensus estimate of $0.74 by $0.91. The firm had revenue of $34.20 billion for the quarter, compared to analyst estimates of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.24) earnings per share. On average, analysts predict that Marathon Petroleum Corporation will post 32.96 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.5%. The ex-dividend date was Wednesday, May 20th. Marathon Petroleum’s dividend payout ratio is presently 26.11%.

Insider Buying and Selling

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the transaction, the vice president owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on MPC shares. Morgan Stanley lifted their price objective on shares of Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Weiss Ratings lowered shares of Marathon Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. lifted their price target on shares of Marathon Petroleum from $235.00 to $257.00 in a research note on Wednesday, May 6th. BMO Capital Markets reiterated an “outperform” rating on shares of Marathon Petroleum in a report on Friday, June 12th. Finally, TD Cowen cut their price target on shares of Marathon Petroleum from $320.00 to $315.00 and set a “buy” rating on the stock in a report on Monday, June 29th. Ten research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $272.62.

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.