Oppenheimer Asset Management Inc. Has $7.19 Million Stake in Marathon Petroleum Corporation $MPC

Oppenheimer Asset Management Inc. trimmed its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 2.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,306 shares of the oil and gas company’s stock after selling 1,081 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Marathon Petroleum were worth $7,194,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Marathon Petroleum by 12.3% in the 1st quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company’s stock valued at $5,090,611,000 after purchasing an additional 3,834,501 shares during the period. Boston Partners boosted its holdings in shares of Marathon Petroleum by 58.5% in the first quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock valued at $791,274,000 after buying an additional 2,011,810 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Marathon Petroleum by 18.7% in the first quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock valued at $1,722,664,000 after buying an additional 1,862,674 shares during the period. Nuveen LLC acquired a new position in shares of Marathon Petroleum in the first quarter valued at approximately $147,122,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Marathon Petroleum by 26.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,675,362 shares of the oil and gas company’s stock valued at $535,465,000 after buying an additional 769,015 shares during the period. 76.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Molly R. Benson sold 10,879 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the sale, the insider directly owned 28,700 shares of the company’s stock, valued at $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

MPC has been the subject of a number of research analyst reports. Scotiabank reaffirmed an “outperform” rating on shares of Marathon Petroleum in a research note on Thursday, October 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marathon Petroleum in a research report on Wednesday, October 8th. UBS Group upped their price objective on Marathon Petroleum from $203.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Mizuho upped their price target on Marathon Petroleum from $184.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, September 15th. Finally, BMO Capital Markets upped their price target on Marathon Petroleum from $195.00 to $208.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.31.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $196.13 on Tuesday. The stock has a market cap of $59.63 billion, a P/E ratio of 29.10, a P/E/G ratio of 4.11 and a beta of 0.90. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. The company has a fifty day moving average price of $184.19 and a two-hundred day moving average price of $167.95. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $201.61.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The firm had revenue of $34.10 billion during the quarter, compared to analysts’ expectations of $31.70 billion. During the same quarter last year, the company posted $4.12 earnings per share. The company’s revenue for the quarter was down 11.1% compared to the same quarter last year. As a group, equities analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 54.01%.

Marathon Petroleum 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.