Commerce Bank Increases Position in Marathon Petroleum Co. (NYSE:MPC)

Commerce Bank boosted its holdings in Marathon Petroleum Co. (NYSE:MPC) by 1.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,425 shares of the oil and gas company’s stock after acquiring an additional 521 shares during the period. Commerce Bank’s holdings in Marathon Petroleum were worth $7,340,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Marathon Petroleum during the 4th quarter worth approximately $25,000. FinTrust Capital Advisors LLC raised its holdings in Marathon Petroleum by 400.0% in the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in Marathon Petroleum in the fourth quarter worth approximately $30,000. Vima LLC acquired a new position in Marathon Petroleum during the 4th quarter worth approximately $30,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in shares of Marathon Petroleum in the 4th quarter valued at $32,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on MPC. Raymond James dropped their price target on 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. Tudor Pickering upgraded shares of Marathon Petroleum to a “strong-buy” rating in a research report on Thursday, May 30th. The Goldman Sachs Group lifted their target price on shares of Marathon Petroleum from $175.00 to $211.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Mizuho cut their price target 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. Finally, Barclays lowered their price objective on Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating on the stock in a report on Monday, July 1st. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $191.31.

Marathon Petroleum Stock Up 0.2 %

Shares of Marathon Petroleum stock opened at $162.49 on Thursday. The firm has a market cap of $57.25 billion, a P/E ratio of 8.10, a P/E/G ratio of 1.65 and a beta of 1.40. The business has a 50-day moving average price of $174.83 and a 200 day moving average price of $176.83. 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 Co. has a fifty-two week low of $117.28 and a fifty-two week high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.25. The company had revenue of $32.71 billion for the quarter, compared to analysts’ expectations of $32.07 billion. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The firm’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period last year, the business posted $6.09 earnings per share. On average, sell-side analysts forecast that Marathon Petroleum Co. will post 16.9 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were issued a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Wednesday, May 15th. Marathon Petroleum’s payout ratio is 16.48%.

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 shares. This buyback authorization authorizes the oil and gas company to buy up to 7.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.