Fort Washington Investment Advisors Inc. OH Takes $635,000 Position in Marathon Petroleum Corporation $MPC

Fort Washington Investment Advisors Inc. OH purchased a new position in Marathon Petroleum Corporation (NYSE:MPC) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,602 shares of the oil and gas company’s stock, valued at approximately $635,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MPC. Brighton Jones LLC boosted its position in Marathon Petroleum by 30.9% during the fourth quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock worth $696,000 after acquiring an additional 1,178 shares during the last quarter. Woodline Partners LP lifted its stake in Marathon Petroleum by 38.3% in the 1st quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company’s stock worth $3,889,000 after purchasing an additional 7,396 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings 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 purchasing an additional 466 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Marathon Petroleum in the second quarter valued at approximately $8,505,000. Finally, AXA S.A. grew its position in shares of Marathon Petroleum by 46.7% in the second quarter. AXA S.A. now owns 39,675 shares of the oil and gas company’s stock valued at $6,590,000 after purchasing an additional 12,639 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $259.35 on Tuesday. The firm has a market cap of $75.72 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 0.39 and a beta of 0.52. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 52 week low of $158.00 and a 52 week high of $272.46. The business’s fifty day simple moving average is $248.45 and its 200-day simple moving average is $217.03.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.91. The firm had revenue of $34.20 billion during the quarter, compared to the consensus estimate of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the company earned ($0.24) EPS. Equities analysts forecast that Marathon Petroleum Corporation will post 31.35 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

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

Insider Activity at Marathon Petroleum

In related 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 transaction of $1,703,243.52. Following the completion of 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 accessible through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

MPC has been the topic of a number of analyst reports. BMO Capital Markets reiterated an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, June 12th. Piper Sandler upped their target price on Marathon Petroleum from $197.00 to $228.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Jefferies Financial Group raised their target price on Marathon Petroleum from $279.00 to $296.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Barclays lifted their price target on Marathon Petroleum from $230.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Mizuho boosted their price target on shares of Marathon Petroleum from $224.00 to $284.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Ten investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $272.62.

Marathon Petroleum 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.