Gradient Investments LLC grew its stake in shares of Marathon Petroleum Co. (NYSE:MPC – Get Rating) by 67.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,370 shares of the oil and gas company’s stock after buying an additional 1,760 shares during the period. Gradient Investments LLC’s holdings in Marathon Petroleum were worth $359,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Herold Advisors Inc. bought a new stake in shares of Marathon Petroleum during the first quarter valued at about $26,000. Riverview Trust Co bought a new stake in shares of Marathon Petroleum during the first quarter valued at about $29,000. Hazlett Burt & Watson Inc. bought a new stake in shares of Marathon Petroleum during the first quarter valued at about $30,000. Dixon Hughes Goodman Wealth Advisors LLC increased its position in shares of Marathon Petroleum by 138.5% during the first quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 353 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 205 shares during the period. Finally, DB Wealth Management Group LLC increased its position in shares of Marathon Petroleum by 886.8% during the first quarter. DB Wealth Management Group LLC now owns 375 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 337 shares during the period. 78.69% of the stock is currently owned by institutional investors.
Marathon Petroleum Stock Up 0.7 %
Shares of MPC opened at $96.30 on Tuesday. The firm has a market cap of $48.02 billion, a P/E ratio of 6.46, a P/E/G ratio of 0.20 and a beta of 1.70. The stock has a 50 day simple moving average of $94.44 and a two-hundred day simple moving average of $91.21. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.49 and a quick ratio of 1.10. Marathon Petroleum Co. has a 1 year low of $56.08 and a 1 year high of $114.35.
Marathon Petroleum Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Wednesday, August 17th were paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend was Tuesday, August 16th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 15.68%.
Wall Street Analyst Weigh In
MPC has been the subject of several recent analyst reports. BMO Capital Markets initiated coverage on Marathon Petroleum in a report on Monday, June 13th. They set an “outperform” rating and a $135.00 price objective for the company. Morgan Stanley boosted their price objective on Marathon Petroleum from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, July 15th. Royal Bank of Canada boosted their price objective on Marathon Petroleum from $110.00 to $121.00 and gave the stock an “outperform” rating in a report on Wednesday, August 3rd. Wells Fargo & Company cut their price objective on Marathon Petroleum from $129.00 to $117.00 and set an “overweight” rating for the company in a report on Wednesday, August 3rd. Finally, Raymond James boosted their price objective on Marathon Petroleum from $131.00 to $133.00 and gave the stock a “strong-buy” rating in a report on Friday, September 9th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum presently has an average rating of “Buy” and an average price target of $115.58.
In other news, VP Carl Kristopher Hagedorn sold 14,353 shares of the stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $105.41, for a total transaction of $1,512,949.73. Following the completion of the sale, the vice president now owns 7,873 shares of the company’s stock, valued at $829,892.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.28% of the company’s stock.
Marathon Petroleum Company Profile
Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale.
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