Mediolanum International Funds Ltd Purchases New Shares in Marathon Petroleum Co. (NYSE:MPC)

Mediolanum International Funds Ltd purchased a new position in shares of Marathon Petroleum Co. (NYSE:MPCFree Report) during the first quarter, Holdings Channel reports. The institutional investor purchased 44,816 shares of the oil and gas company’s stock, valued at approximately $8,828,000.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Marathon Petroleum during the 4th quarter worth approximately $500,685,000. Assenagon Asset Management S.A. boosted its holdings in Marathon Petroleum by 256.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 884,573 shares of the oil and gas company’s stock worth $131,235,000 after buying an additional 636,281 shares during the period. Schroder Investment Management Group lifted its position in shares of Marathon Petroleum by 309.9% during the fourth quarter. Schroder Investment Management Group now owns 643,590 shares of the oil and gas company’s stock worth $95,483,000 after acquiring an additional 486,573 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Marathon Petroleum by 248.1% during the 4th quarter. International Assets Investment Management LLC now owns 608,888 shares of the oil and gas company’s stock worth $90,335,000 after purchasing an additional 433,977 shares in the last quarter. Finally, Canoe Financial LP bought a new stake in shares of Marathon Petroleum during the fourth quarter valued at about $33,604,000. Institutional investors own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Piper Sandler cut their price target on shares of Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a report on Friday, June 14th. Scotiabank boosted their target price on Marathon Petroleum from $175.00 to $207.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Tudor Pickering upgraded shares of Marathon Petroleum to a “strong-buy” rating in a research report on Thursday, May 30th. Raymond James dropped their target price on Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating for the company in a report on Thursday, May 30th. Finally, Wells Fargo & Company decreased their target price on shares of Marathon Petroleum from $227.00 to $223.00 and set an “overweight” rating on the stock in a research note on Thursday, June 6th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $191.31.

Check Out Our Latest Stock Report on Marathon Petroleum

Marathon Petroleum Stock Down 0.4 %

MPC traded down $0.72 during trading on Wednesday, reaching $162.20. The stock had a trading volume of 2,457,468 shares, compared to its average volume of 2,699,837. The company has a current ratio of 1.43, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. The stock’s 50 day moving average is $175.16 and its two-hundred day moving average is $176.94. The company has a market capitalization of $57.15 billion, a price-to-earnings ratio of 8.15, a P/E/G ratio of 1.65 and a beta of 1.40. Marathon Petroleum Co. has a one year low of $117.28 and a one year high of $221.11.

Marathon Petroleum (NYSE:MPCGet Free Report) last released its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.25. The firm had revenue of $32.71 billion during the quarter, compared to analyst estimates of $32.07 billion. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The business’s revenue was down 6.2% on a year-over-year basis. During the same period last year, the business earned $6.09 earnings per share. As a group, analysts expect that Marathon Petroleum Co. will post 16.9 earnings per share for the current year.

Marathon Petroleum announced that its Board of Directors has initiated a share repurchase plan on Tuesday, April 30th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to reacquire up to 7.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were given a $0.825 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $3.30 annualized dividend and a yield of 2.03%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Marathon Petroleum Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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