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Charles Schwab Investment Management Inc. Buys 105,152 Shares of Marathon Petroleum Corporation (NYSE:MPC)

Marathon Petroleum logo with Energy background

Key Points

  • Charles Schwab Investment Management Inc. now holds a $377.49 million stake in Marathon Petroleum Corporation after increasing its holdings by 4.2% in the first quarter.
  • The company's quarterly earnings exceeded expectations, reporting an EPS of $3.96, significantly higher than the consensus estimate of $3.22, although revenue was down 11.1% year-over-year.
  • Marathon Petroleum declared a quarterly dividend of $0.91, with a 2.3% yield, set to be paid on September 10th to investors of record by August 20th.
  • Looking to Export and Analyze Marathon Petroleum Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Charles Schwab Investment Management Inc. raised its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 4.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,591,077 shares of the oil and gas company's stock after buying an additional 105,152 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.83% of Marathon Petroleum worth $377,494,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Fourth Dimension Wealth LLC bought a new position in Marathon Petroleum in the fourth quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC grew its position in Marathon Petroleum by 1,546.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company's stock valued at $31,000 after purchasing an additional 201 shares during the period. Hughes Financial Services LLC bought a new stake in Marathon Petroleum during the 1st quarter valued at $32,000. Decker Retirement Planning Inc. increased its stake in Marathon Petroleum by 1,621.4% during the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock valued at $35,000 after purchasing an additional 227 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in Marathon Petroleum during the first quarter worth $35,000. 76.77% of the stock is currently owned by institutional investors.

Insider Transactions at Marathon Petroleum

In related news, Director Kim K.W. Rucker sold 7,392 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total value of $1,293,600.00. Following the sale, the director directly owned 18,944 shares of the company's stock, valued at $3,315,200. This trade represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.25% of the company's stock.

Marathon Petroleum Stock Performance

Shares of MPC stock traded down $0.56 during trading on Friday, reaching $160.95. 1,278,171 shares of the company's stock traded hands, compared to its average volume of 1,807,968. The firm's 50-day moving average is $169.25 and its 200 day moving average is $153.73. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $183.10. The company has a market capitalization of $48.93 billion, a P/E ratio of 23.88, a PEG ratio of 2.88 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, beating analysts' consensus estimates of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%. The business had revenue of $34.10 billion during the quarter, compared to analyst estimates of $31.70 billion. During the same quarter in the previous year, the firm earned $4.12 EPS. The company's quarterly revenue was down 11.1% compared to the same quarter last year. Equities research analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 2.3%. Marathon Petroleum's dividend payout ratio (DPR) is currently 54.01%.

Analyst Upgrades and Downgrades

MPC has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of Marathon Petroleum from $182.00 to $205.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Barclays lifted their price target on Marathon Petroleum from $159.00 to $189.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Mizuho increased their price objective on Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. UBS Group raised their target price on Marathon Petroleum from $175.00 to $203.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Finally, Morgan Stanley upped their price target on Marathon Petroleum from $160.00 to $182.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $185.29.

Read Our Latest Stock Report on MPC

Marathon Petroleum Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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