PNC Financial Services Group Inc. Increases Stock Position in Marathon Petroleum Corporation $MPC

PNC Financial Services Group Inc. grew its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 1.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 344,132 shares of the oil and gas company’s stock after buying an additional 5,320 shares during the period. PNC Financial Services Group Inc.’s holdings in Marathon Petroleum were worth $84,030,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MPC. Norges Bank purchased a new position in Marathon Petroleum during the 4th quarter valued at about $472,312,000. Capital Wealth Planning LLC boosted its stake in Marathon Petroleum by 49,392.0% during the fourth quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock worth $245,157,000 after acquiring an additional 1,495,097 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Marathon Petroleum by 3,816.8% in the fourth quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company’s stock worth $212,517,000 after purchasing an additional 1,273,386 shares during the period. GHE LLC increased its stake in shares of Marathon Petroleum by 1,939.8% during the first quarter. GHE LLC now owns 649,542 shares of the oil and gas company’s stock valued at $158,605,000 after purchasing an additional 617,699 shares in the last quarter. Finally, Man Group plc increased its stake in shares of Marathon Petroleum by 2,175.0% during the fourth quarter. Man Group plc now owns 568,790 shares of the oil and gas company’s stock valued at $92,502,000 after purchasing an additional 543,788 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction 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 completion of the transaction, the vice president 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 document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MPC shares. Scotiabank boosted their price target on Marathon Petroleum from $174.00 to $210.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 22nd. UBS Group reaffirmed a “buy” rating and set a $321.00 price objective on shares of Marathon Petroleum in a research report on Friday, July 10th. Mizuho lifted their price objective on Marathon Petroleum from $224.00 to $284.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. Morgan Stanley boosted their target price on Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Finally, Weiss Ratings raised Marathon Petroleum from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, July 6th. Ten analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $291.50.

Marathon Petroleum Trading Down 1.1%

Shares of NYSE MPC opened at $316.17 on Thursday. The firm’s 50 day moving average price is $266.31 and its 200-day moving average price is $231.05. Marathon Petroleum Corporation has a 52-week low of $158.00 and a 52-week high of $326.92. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18. The company has a market cap of $92.30 billion, a PE ratio of 20.64, a P/E/G ratio of 0.43 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The company 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 quarterly revenue was up 8.5% compared to the same quarter last year. On average, equities research analysts expect that Marathon Petroleum Corporation will post 35.82 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were issued a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.3%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 26.11%.

Marathon Petroleum Company 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.