ABN Amro Investment Solutions Increases Stake in Marathon Petroleum Corporation $MPC

ABN Amro Investment Solutions raised its stake in Marathon Petroleum Corporation (NYSE:MPC) by 11.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 17,111 shares of the oil and gas company’s stock after purchasing an additional 1,726 shares during the quarter. ABN Amro Investment Solutions’ holdings in Marathon Petroleum were worth $4,178,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in MPC. PNC Financial Services Group Inc. grew its stake in shares of Marathon Petroleum by 1.6% in the first quarter. PNC Financial Services Group Inc. now owns 344,132 shares of the oil and gas company’s stock worth $84,030,000 after purchasing an additional 5,320 shares during the last quarter. Oslo Pensjonsforsikring AS purchased a new stake in shares of Marathon Petroleum in the 1st quarter worth about $379,000. Wilkerson Advisory Group LLC boosted its stake in shares of Marathon Petroleum by 31.0% during the 1st quarter. Wilkerson Advisory Group LLC now owns 477 shares of the oil and gas company’s stock valued at $116,000 after purchasing an additional 113 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in shares of Marathon Petroleum during the first quarter valued at about $106,000. Finally, Amova Asset Management Americas Inc. lifted its stake in shares of Marathon Petroleum by 2.1% in the 1st quarter. Amova Asset Management Americas Inc. now owns 3,383 shares of the oil and gas company’s stock valued at $826,000 after purchasing an additional 70 shares during the period. 76.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MPC has been the topic of a number of recent research reports. Weiss Ratings raised shares of Marathon Petroleum from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, July 6th. Scotiabank lifted their price target on shares of Marathon Petroleum from $174.00 to $210.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd. TD Cowen boosted their price objective on shares of Marathon Petroleum from $315.00 to $357.00 and gave the stock a “buy” rating in a research note on Tuesday. Piper Sandler upped their price objective on shares of Marathon Petroleum from $197.00 to $228.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Finally, UBS Group reaffirmed a “buy” rating and set a $321.00 target price on shares of Marathon Petroleum in a research note on Friday, July 10th. Ten equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and a consensus price target of $291.50.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $316.17 on Thursday. Marathon Petroleum Corporation has a 1 year low of $158.00 and a 1 year high of $326.92. The firm’s 50-day moving average is $266.31 and its 200 day moving average is $231.05. The stock has a market cap of $92.30 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 0.43 and a beta of 0.52. 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 released 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. The business had revenue of $34.20 billion during the quarter, compared to analyst estimates of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. Marathon Petroleum’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business earned ($0.24) EPS. Sell-side analysts anticipate that Marathon Petroleum Corporation will post 35.82 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were given a dividend of $1.00 per share. 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 (DPR) is 26.11%.

Insider Transactions at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the transaction, the vice president directly owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. This represents a 27.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.17% of the company’s stock.

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.