Brown Brothers Harriman & Co. Has $579,000 Holdings in Marathon Petroleum Co. (NYSE:MPC)

Brown Brothers Harriman & Co. boosted its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 378.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,338 shares of the oil and gas company’s stock after purchasing an additional 2,641 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Marathon Petroleum were worth $579,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of MPC. Granite Bay Wealth Management LLC acquired a new position in Marathon Petroleum during the 2nd quarter valued at $219,537,000. Capital Wealth Planning LLC lifted its holdings in shares of 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 worth $223,792,000 after acquiring an additional 1,100,536 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of 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 worth $118,785,000 after acquiring an additional 621,336 shares during the period. Schroder Investment Management Group lifted its holdings in shares of Marathon Petroleum by 309.9% during the 4th quarter. Schroder Investment Management Group now owns 643,590 shares of the oil and gas company’s stock worth $95,483,000 after acquiring an additional 486,573 shares during the period. Finally, Panagora Asset Management Inc. lifted its holdings in shares of 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 worth $107,393,000 after acquiring an additional 241,746 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Trading Up 1.8 %

MPC opened at $163.87 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $57.74 billion, a PE ratio of 8.19, a PEG 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 firm has a 50-day moving average price of $169.92 and a two-hundred day moving average price of $180.04.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data 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. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The firm had revenue of $38.36 billion during the quarter, compared to analysts’ expectations of $36.66 billion. During the same quarter last year, the company posted $5.32 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, equities analysts anticipate that Marathon Petroleum Co. will post 12.68 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MPC. StockNews.com downgraded shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Wells Fargo & Company reduced their price objective on shares of Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Piper Sandler dropped their target price on shares of Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a research report on Friday, June 14th. Mizuho dropped their target price 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. Finally, Wolfe Research began coverage on shares of Marathon Petroleum in a research report on Thursday, July 18th. They set an “outperform” rating and a $200.00 target price for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Marathon Petroleum presently has an average rating of “Hold” and a consensus target price of $199.46.

Marathon Petroleum Company 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.