Princeton Global Asset Management LLC Purchases 390 Shares of Marathon Petroleum Co. (NYSE:MPC)

Princeton Global Asset Management LLC raised its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 1.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,941 shares of the oil and gas company’s stock after purchasing an additional 390 shares during the period. Princeton Global Asset Management LLC’s holdings in Marathon Petroleum were worth $3,634,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of MPC. Fourth Dimension Wealth LLC acquired a new position in Marathon Petroleum in the fourth quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Marathon Petroleum during the 4th quarter valued at $27,000. Asset Planning Inc acquired a new position in shares of Marathon Petroleum in the 4th quarter valued at $28,000. Sierra Ocean LLC bought a new position in shares of Marathon Petroleum in the 4th quarter worth $31,000. Finally, Cape Investment Advisory Inc. boosted its position in shares of Marathon Petroleum by 762.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 267 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, insider Ricky D. Hessling purchased 2,000 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was bought at an average cost of $134.72 per share, with a total value of $269,440.00. Following the purchase, the insider now directly owns 12,162 shares of the company’s stock, valued at $1,638,464.64. The trade was a 19.68% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.21% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wells Fargo & Company increased their target price on Marathon Petroleum from $175.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, May 13th. Morgan Stanley lowered their price target on Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Mizuho increased their price target on shares of Marathon Petroleum from $168.00 to $184.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. Scotiabank decreased their price objective on shares of Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating for the company in a report on Friday, April 11th. Finally, TD Cowen upped their target price on shares of Marathon Petroleum from $142.00 to $152.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.29.

Marathon Petroleum Stock Up 1.2%

Shares of MPC stock opened at $160.18 on Friday. Marathon Petroleum Co. has a 12-month low of $115.10 and a 12-month high of $183.31. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The firm has a fifty day moving average of $143.86 and a 200-day moving average of $146.25. The company has a market capitalization of $49.21 billion, a price-to-earnings ratio of 16.13, a P/E/G ratio of 3.11 and a beta of 0.89.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.16. The firm had revenue of $31.85 billion during the quarter, compared to analyst estimates of $28.91 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.58 EPS. As a group, equities research analysts predict that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a dividend of $0.91 per share. The ex-dividend date is Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.27%. Marathon Petroleum’s payout ratio is presently 51.20%.

About Marathon Petroleum

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.