Choreo LLC Boosts Stake in Marathon Petroleum Co. (NYSE:MPC)

Choreo LLC lifted its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 303.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,502 shares of the oil and gas company’s stock after buying an additional 14,666 shares during the period. Choreo LLC’s holdings in Marathon Petroleum were worth $3,407,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. PFG Investments LLC grew its stake in shares of Marathon Petroleum by 21.2% in the second quarter. PFG Investments LLC now owns 4,507 shares of the oil and gas company’s stock worth $782,000 after acquiring an additional 789 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Marathon Petroleum in the 2nd quarter worth approximately $141,000. Hudson Edge Investment Partners Inc. raised its stake in Marathon Petroleum by 2.3% during the 2nd quarter. Hudson Edge Investment Partners Inc. now owns 33,692 shares of the oil and gas company’s stock valued at $5,845,000 after buying an additional 764 shares during the last quarter. Ballentine Partners LLC lifted its holdings in shares of Marathon Petroleum by 4.0% during the 2nd quarter. Ballentine Partners LLC now owns 12,651 shares of the oil and gas company’s stock valued at $2,195,000 after buying an additional 491 shares during the period. Finally, Caprock Group LLC boosted its stake in shares of Marathon Petroleum by 673.0% in the 2nd quarter. Caprock Group LLC now owns 18,862 shares of the oil and gas company’s stock worth $3,272,000 after buying an additional 16,422 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MPC shares. Tudor, Pickering, Holt & Co. cut Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday. Scotiabank lowered their price objective on shares of Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. StockNews.com lowered shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. TD Cowen increased their price target on shares of Marathon Petroleum from $187.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Raymond James decreased their target price on Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating on the stock in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $198.38.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $163.24 on Tuesday. The stock has a 50-day moving average price of $170.98 and a 200 day moving average price of $180.39. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86. Marathon Petroleum Co. has a 12-month low of $139.32 and a 12-month high of $221.11. The stock has a market capitalization of $54.63 billion, a P/E ratio of 8.15, a P/E/G ratio of 2.18 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $1.03. The firm had revenue of $38.36 billion for the quarter, compared to analysts’ expectations of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $5.32 earnings per share. Equities research analysts forecast that Marathon Petroleum Co. will post 12.68 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be given a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 2.02%. The ex-dividend date is Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio is presently 16.48%.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. 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 and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.