Marathon Petroleum Corporation $MPC Stake Raised by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 73.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 142,800 shares of the oil and gas company’s stock after acquiring an additional 60,300 shares during the quarter. Marathon Petroleum accounts for about 1.7% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s portfolio, making the stock its 16th biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Marathon Petroleum were worth $34,869,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in MPC. Brighton Jones LLC grew its position in Marathon Petroleum by 30.9% in the fourth quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock worth $696,000 after buying an additional 1,178 shares during the last quarter. Woodline Partners LP lifted its position in shares of Marathon Petroleum by 38.3% during the 1st quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company’s stock valued at $3,889,000 after acquiring an additional 7,396 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in shares of Marathon Petroleum by 26.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,221 shares of the oil and gas company’s stock worth $369,000 after acquiring an additional 466 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Marathon Petroleum during the 2nd quarter worth $8,505,000. Finally, AXA S.A. grew its holdings in shares of Marathon Petroleum by 46.7% in the 2nd quarter. AXA S.A. now owns 39,675 shares of the oil and gas company’s stock worth $6,590,000 after acquiring an additional 12,639 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the sale, the vice president owned 16,900 shares in the company, valued at $4,543,058. This represents a 27.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is currently owned by insiders.

Marathon Petroleum Stock Up 0.1%

Shares of Marathon Petroleum stock opened at $266.50 on Monday. Marathon Petroleum Corporation has a 1 year low of $158.00 and a 1 year high of $272.46. The company has a market cap of $77.80 billion, a P/E ratio of 17.40, a P/E/G ratio of 0.39 and a beta of 0.52. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31. The stock has a 50-day moving average price of $252.10 and a 200 day moving average price of $219.16.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.91. The company had revenue of $34.20 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the business posted ($0.24) EPS. As a group, analysts expect that Marathon Petroleum Corporation will post 32.96 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were paid a $1.00 dividend. 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 currently 26.11%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MPC. BMO Capital Markets reaffirmed an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, June 12th. Barclays lifted their price target on Marathon Petroleum from $230.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Mizuho boosted their price objective on Marathon Petroleum from $224.00 to $284.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Citigroup upped their price objective on shares of Marathon Petroleum from $243.00 to $257.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Finally, Bank of America raised their target price on shares of Marathon Petroleum from $224.00 to $260.00 in a report on Tuesday, May 26th. Ten equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $272.62.

Marathon Petroleum Company 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.