Marathon Petroleum Co. (NYSE:MPC) Shares Bought by Norden Group LLC

Norden Group LLC lifted its holdings in Marathon Petroleum Co. (NYSE:MPC) by 1,953.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,798 shares of the oil and gas company’s stock after acquiring an additional 75,912 shares during the period. Norden Group LLC’s holdings in Marathon Petroleum were worth $16,079,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Marathon Petroleum during the 4th quarter valued at $25,000. ICA Group Wealth Management LLC acquired a new position in Marathon Petroleum during the 4th quarter worth $30,000. Vima LLC acquired a new position in Marathon Petroleum during the 4th quarter worth $30,000. Manchester Capital Management LLC grew its holdings in Marathon Petroleum by 97.2% during the 4th quarter. Manchester Capital Management LLC now owns 215 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 106 shares in the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new position in Marathon Petroleum during the 4th quarter worth $32,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on MPC shares. Tudor Pickering raised shares of Marathon Petroleum to a “strong-buy” rating in a report on Thursday, May 30th. Mizuho decreased their price objective on shares of Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating for the company in a report on Thursday, June 20th. StockNews.com downgraded shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Wells Fargo & Company reduced their price target on shares of Marathon Petroleum from $227.00 to $223.00 and set an “overweight” rating on the stock in a research report on Thursday, June 6th. Finally, Raymond James reduced their price target on shares of Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating on the stock in a research report on Thursday, May 30th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $191.31.

Marathon Petroleum Trading Up 0.5 %

Shares of NYSE:MPC opened at $174.99 on Thursday. The company has a market cap of $61.65 billion, a PE ratio of 8.74, a P/E/G ratio of 1.63 and a beta of 1.40. The company’s 50-day moving average price is $177.73 and its 200 day moving average price is $176.31. Marathon Petroleum Co. has a fifty-two week low of $112.82 and a fifty-two week high of $221.11. The company has a quick ratio of 0.99, a current ratio of 1.43 and a debt-to-equity ratio of 0.85.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.25. The firm had revenue of $32.71 billion for the quarter, compared to the consensus estimate of $32.07 billion. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. Marathon Petroleum’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period last year, the firm posted $6.09 EPS. Sell-side analysts anticipate that Marathon Petroleum Co. will post 17.85 earnings per share for the current year.

Marathon Petroleum announced that its board has approved a share repurchase program 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 repurchase up to 7.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were given a dividend of $0.825 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.89%. Marathon Petroleum’s dividend payout ratio (DPR) is 16.48%.

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.