Reaves W H & Co. Inc. Has $21.85 Million Stock Position in Marathon Petroleum Corporation (NYSE:MPC)

Reaves W H & Co. Inc. grew its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 11.1% during the 1st quarter, Holdings Channel reports. The firm owned 150,000 shares of the oil and gas company’s stock after buying an additional 15,000 shares during the period. Reaves W H & Co. Inc.’s holdings in Marathon Petroleum were worth $21,854,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MPC. Demars Financial Group LLC increased its position in shares of Marathon Petroleum by 16,338.3% during the 4th quarter. Demars Financial Group LLC now owns 4,177,133 shares of the oil and gas company’s stock worth $582,710,000 after purchasing an additional 4,151,722 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Marathon Petroleum by 14,969.1% during the 1st quarter. GAMMA Investing LLC now owns 1,540,963 shares of the oil and gas company’s stock worth $224,503,000 after purchasing an additional 1,530,737 shares during the last quarter. Two Sigma Investments LP acquired a new position in shares of Marathon Petroleum during the 4th quarter worth approximately $81,318,000. Two Sigma Advisers LP bought a new position in shares of Marathon Petroleum during the 4th quarter worth approximately $71,842,000. Finally, Northern Trust Corp boosted its stake in shares of Marathon Petroleum by 14.0% during the 4th quarter. Northern Trust Corp now owns 3,937,348 shares of the oil and gas company’s stock worth $549,260,000 after acquiring an additional 484,438 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

MPC opened at $168.30 on Tuesday. The firm has a market cap of $51.70 billion, a P/E ratio of 23.67, a price-to-earnings-growth ratio of 2.83 and a beta of 0.90. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $183.10. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.73 and a current ratio of 1.19. The business’s fifty day moving average is $169.00 and its 200-day moving average is $153.40.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.16. The company had revenue of $31.85 billion for the quarter, compared to analyst estimates of $28.91 billion. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. Marathon Petroleum’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.58 EPS. Sell-side analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio is currently 51.20%.

Insider Buying and Selling at Marathon Petroleum

In related news, Director Kim K.W. Rucker sold 7,392 shares of the company’s stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the completion of the sale, the director directly owned 18,944 shares in the company, valued at $3,315,200. This represents a 28.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.21% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on MPC shares. Dbs Bank upgraded Marathon Petroleum to a “moderate buy” rating in a research note on Monday, July 28th. Citigroup lifted their target price on Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. Wall Street Zen upgraded Marathon Petroleum from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Barclays lifted their target price on Marathon Petroleum from $159.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday, July 11th. Finally, Evercore ISI started coverage on Marathon Petroleum in a research note on Wednesday, June 18th. They set an “in-line” rating and a $170.00 target price for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $183.93.

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.