Marathon Petroleum Co. (NYSE:MPC) Shares Acquired by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI raised its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 314.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,107 shares of the oil and gas company’s stock after acquiring an additional 5,391 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Marathon Petroleum were worth $1,158,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in MPC. Granite Bay Wealth Management LLC acquired a new stake in shares of Marathon Petroleum in the 2nd quarter valued at about $219,537,000. Capital Wealth Planning LLC raised its stake in Marathon Petroleum by 10,902.9% during the 1st quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock valued at $223,792,000 after acquiring an additional 1,100,536 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Marathon Petroleum by 980.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 684,718 shares of the oil and gas company’s stock valued at $118,785,000 after acquiring an additional 621,336 shares during the last quarter. Panagora Asset Management Inc. raised its stake in Marathon Petroleum by 64.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 619,049 shares of the oil and gas company’s stock valued at $107,393,000 after acquiring an additional 241,746 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in Marathon Petroleum by 8.5% during the 2nd quarter. Pacer Advisors Inc. now owns 2,669,815 shares of the oil and gas company’s stock valued at $463,160,000 after acquiring an additional 209,270 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on MPC shares. BMO Capital Markets reduced their price objective on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Wolfe Research started coverage on Marathon Petroleum in a research note on Thursday, July 18th. They set an “outperform” rating and a $200.00 price objective for the company. Jefferies Financial Group upped their price objective on Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Morgan Stanley cut their target price on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Finally, Scotiabank cut their target price on Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $187.00.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $153.76 on Thursday. The business’s fifty day moving average price is $166.48 and its two-hundred day moving average price is $174.39. The stock has a market cap of $54.17 billion, a PE ratio of 7.68, a price-to-earnings-growth ratio of 2.65 and a beta of 1.37. 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 Co. has a one year low of $140.98 and a one year high of $221.11.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 24.05% and a net margin of 4.79%. Marathon Petroleum’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.32 EPS. On average, analysts forecast that Marathon Petroleum Co. will post 10.22 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio (DPR) is presently 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.