HBK Sorce Advisory LLC Boosts Stock Position in Marathon Petroleum Co. (NYSE:MPC)

HBK Sorce Advisory LLC grew its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 16.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,126 shares of the oil and gas company’s stock after purchasing an additional 435 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Marathon Petroleum were worth $542,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Raymond James & Associates increased its stake in shares of Marathon Petroleum by 2.6% in the second quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company’s stock worth $743,690,000 after purchasing an additional 107,915 shares in the last quarter. Norges Bank bought a new position in shares of Marathon Petroleum in the fourth quarter worth $500,685,000. Price T Rowe Associates Inc. MD raised its position in shares of Marathon Petroleum by 1.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company’s stock worth $620,815,000 after buying an additional 31,100 shares in the last quarter. Boston Partners boosted its stake in Marathon Petroleum by 0.3% during the first quarter. Boston Partners now owns 2,773,050 shares of the oil and gas company’s stock valued at $558,390,000 after buying an additional 8,476 shares during the period. Finally, Acadian Asset Management LLC grew its position in Marathon Petroleum by 7.6% during the first quarter. Acadian Asset Management LLC now owns 1,663,835 shares of the oil and gas company’s stock worth $335,241,000 after buying an additional 117,790 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MPC. TD Cowen lifted their price target on Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Wolfe Research started coverage on shares of Marathon Petroleum in a research report on Thursday, July 18th. They set an “outperform” rating and a $200.00 price objective on the stock. Tudor Pickering lowered shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. Raymond James lowered 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. Finally, StockNews.com cut Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $198.38.

Marathon Petroleum Price Performance

Shares of Marathon Petroleum stock opened at $163.58 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90. Marathon Petroleum Co. has a one year low of $139.32 and a one year high of $221.11. The business’s 50 day simple moving average is $170.03 and its two-hundred day simple moving average is $180.07. The stock has a market capitalization of $54.75 billion, a P/E ratio of 8.17, a price-to-earnings-growth ratio of 2.09 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, topping the consensus estimate of $3.09 by $1.03. The company had revenue of $38.36 billion for the quarter, compared to the consensus estimate of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $5.32 earnings per share. Analysts forecast that Marathon Petroleum Co. will post 12.68 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were issued a dividend of $0.825 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.02%. Marathon Petroleum’s dividend payout ratio is currently 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.