Gabelli Funds LLC Grows Position in Marathon Petroleum Co. (NYSE:MPC)

Gabelli Funds LLC raised its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 12.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 235,350 shares of the oil and gas company’s stock after acquiring an additional 25,356 shares during the period. Gabelli Funds LLC owned approximately 0.07% of Marathon Petroleum worth $40,829,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of MPC. Gryphon Financial Partners LLC lifted its stake in Marathon Petroleum by 81.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 4,226 shares of the oil and gas company’s stock valued at $627,000 after acquiring an additional 1,895 shares during the period. Gladstone Institutional Advisory LLC lifted its stake in shares of Marathon Petroleum by 7.1% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 1,642 shares of the oil and gas company’s stock valued at $244,000 after purchasing an additional 109 shares during the period. SageView Advisory Group LLC lifted its stake in shares of Marathon Petroleum by 9.1% in the 4th quarter. SageView Advisory Group LLC now owns 6,141 shares of the oil and gas company’s stock valued at $911,000 after purchasing an additional 511 shares during the period. TCW Group Inc. acquired a new position in shares of Marathon Petroleum in the 4th quarter valued at $1,549,000. Finally, Team Hewins LLC acquired a new position in shares of Marathon Petroleum in the 4th quarter valued at $460,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MPC has been the subject of a number of research analyst reports. Morgan Stanley reduced their price objective on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Mizuho reduced their price objective on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Tudor Pickering cut shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. reduced their price objective on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Finally, StockNews.com cut shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $197.69.

Marathon Petroleum Stock Down 1.2 %

Shares of MPC opened at $164.39 on Friday. The company’s 50-day simple moving average is $169.99 and its 200-day simple moving average is $179.80. The stock has a market capitalization of $57.92 billion, a PE ratio of 8.21, a P/E/G ratio of 2.09 and a beta of 1.38. Marathon Petroleum Co. has a 1 year low of $139.32 and a 1 year high of $221.11. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, beating the consensus estimate of $3.09 by $1.03. The firm had revenue of $38.36 billion for the quarter, compared to analysts’ expectations 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 was up 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $5.32 earnings per share. Analysts forecast that Marathon Petroleum Co. will post 12.68 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were paid a $0.825 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $3.30 annualized dividend and a yield of 2.01%. Marathon Petroleum’s dividend payout ratio is currently 16.48%.

About Marathon Petroleum

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.