Janney Montgomery Scott LLC Increases Stock Position in Marathon Petroleum Corporation $MPC

Janney Montgomery Scott LLC lifted its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 3.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 145,016 shares of the oil and gas company’s stock after acquiring an additional 5,337 shares during the period. Janney Montgomery Scott LLC’s holdings in Marathon Petroleum were worth $35,410,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Cornerstone Wealth Group LLC acquired a new stake in Marathon Petroleum during the 1st quarter worth $281,000. Fort Washington Investment Advisors Inc. OH purchased a new position in Marathon Petroleum during the 1st quarter worth $635,000. Pictet Asset Management Holding SA increased its stake in Marathon Petroleum by 31.0% in the first quarter. Pictet Asset Management Holding SA now owns 213,545 shares of the oil and gas company’s stock valued at $52,146,000 after purchasing an additional 50,521 shares during the period. Traveka Wealth LLC purchased a new stake in shares of Marathon Petroleum in the first quarter valued at about $208,000. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Marathon Petroleum in the first quarter valued at about $3,161,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Activity at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the sale, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is owned by corporate insiders.

Marathon Petroleum Trading Up 2.1%

Shares of Marathon Petroleum stock opened at $259.35 on Tuesday. The firm has a market cap of $75.72 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 0.39 and a beta of 0.52. Marathon Petroleum Corporation has a 52-week low of $158.00 and a 52-week high of $272.46. The company’s 50-day simple moving average is $248.45 and its 200-day simple moving average is $217.03. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The firm had revenue of $34.20 billion during the quarter, compared to the consensus estimate of $33.42 billion. During the same quarter last year, the firm earned ($0.24) earnings per share. The firm’s revenue was up 8.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Marathon Petroleum Corporation will post 31.35 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Wednesday, May 20th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 26.11%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. BMO Capital Markets reissued an “outperform” rating on shares of Marathon Petroleum in a report on Friday, June 12th. Piper Sandler upped their price objective on Marathon Petroleum from $197.00 to $228.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Scotiabank lifted their target price on Marathon Petroleum from $174.00 to $210.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Morgan Stanley lifted their target price on Marathon Petroleum from $233.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Finally, Barclays upped their price target on Marathon Petroleum from $230.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Ten analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and a consensus price target of $272.62.

Marathon Petroleum Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.