D.A. Davidson & CO. Grows Stock Position in Marathon Petroleum Corporation $MPC

D.A. Davidson & CO. raised its position in Marathon Petroleum Corporation (NYSE:MPC) by 12.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,041 shares of the oil and gas company’s stock after acquiring an additional 3,952 shares during the quarter. D.A. Davidson & CO.’s holdings in Marathon Petroleum were worth $8,801,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Marathon Petroleum in the 4th quarter valued at $472,312,000. Capital Wealth Planning LLC lifted its holdings in shares of Marathon Petroleum by 49,392.0% in 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 buying an additional 1,495,097 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Marathon Petroleum by 3,816.8% in the fourth quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company’s stock valued at $212,517,000 after buying an additional 1,273,386 shares in the last quarter. GHE LLC grew its holdings in Marathon Petroleum by 1,939.8% during the first quarter. GHE LLC now owns 649,542 shares of the oil and gas company’s stock worth $158,605,000 after acquiring an additional 617,699 shares during the period. Finally, Man Group plc raised its position in Marathon Petroleum by 2,175.0% in the fourth quarter. Man Group plc now owns 568,790 shares of the oil and gas company’s stock worth $92,502,000 after acquiring an additional 543,788 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marathon Petroleum

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MPC. Piper Sandler raised their price objective on shares of Marathon Petroleum from $197.00 to $228.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Barclays lifted their target price on Marathon Petroleum from $270.00 to $289.00 and gave the company an “overweight” rating in a report on Monday. Scotiabank lifted their price objective on Marathon Petroleum from $174.00 to $210.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Mizuho upped their price target on shares of Marathon Petroleum from $224.00 to $284.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. Finally, Citigroup lifted their price objective on shares of Marathon Petroleum from $257.00 to $303.00 and gave the company a “neutral” rating in a research note on Tuesday. Ten investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and an average price target of $283.56.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $312.74 on Friday. Marathon Petroleum Corporation has a 12-month low of $158.00 and a 12-month high of $313.15. The firm has a market capitalization of $91.30 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52. The business has a 50 day simple moving average of $262.34 and a 200 day simple moving average of $227.34. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The business had revenue of $34.20 billion for the quarter, compared to analysts’ expectations of $33.42 billion. During the same period in the previous year, the business earned ($0.24) earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. On average, equities research analysts anticipate that Marathon Petroleum Corporation will post 35.82 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were issued a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $4.00 annualized dividend and a dividend yield of 1.3%. Marathon Petroleum’s dividend payout ratio is currently 26.11%.

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.