9,953 Shares in Marathon Petroleum Corporation $MPC Acquired by RiverFront Investment Group LLC

RiverFront Investment Group LLC purchased a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 9,953 shares of the oil and gas company’s stock, valued at approximately $1,653,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MPC. Activest Wealth Management lifted its holdings in Marathon Petroleum by 290.2% in the second quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 119 shares during the last quarter. WPG Advisers LLC acquired a new stake in shares of Marathon Petroleum during the 1st quarter worth about $32,000. NewSquare Capital LLC lifted its position in Marathon Petroleum by 103.1% in the second quarter. NewSquare Capital LLC now owns 199 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 101 shares during the last quarter. Stone House Investment Management LLC increased its position in shares of Marathon Petroleum by 46.1% during the second quarter. Stone House Investment Management LLC now owns 225 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 71 shares during the last quarter. Finally, Operose Advisors LLC purchased a new stake in shares of Marathon Petroleum in the 1st quarter valued at approximately $42,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wells Fargo & Company cut their target price on Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Wall Street Zen upgraded Marathon Petroleum from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Barclays raised their target price on Marathon Petroleum from $194.00 to $202.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Marathon Petroleum in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Marathon Petroleum from $183.00 to $211.00 and gave the company a “neutral” rating in a research note on Wednesday, November 12th. Eight investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $202.14.

Marathon Petroleum Trading Down 0.1%

NYSE MPC opened at $190.39 on Tuesday. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $202.29. The firm has a 50 day moving average of $191.08 and a two-hundred day moving average of $176.63. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $57.23 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 1.00 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.01. The business had revenue of $34.81 billion during the quarter, compared to analysts’ expectations of $31.06 billion. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. As a group, research analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 19th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, November 19th. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s dividend payout ratio (DPR) is currently 42.64%.

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.