Global Assets Advisory LLC Invests $458,000 in Marathon Petroleum Corporation (NYSE:MPC)

Global Assets Advisory LLC purchased a new position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,144 shares of the oil and gas company's stock, valued at approximately $458,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP increased its position in shares of Marathon Petroleum by 78.1% during the fourth quarter. Wellington Management Group LLP now owns 9,961,503 shares of the oil and gas company's stock worth $1,389,630,000 after purchasing an additional 4,367,774 shares in the last quarter. Demars Financial Group LLC boosted its stake in Marathon Petroleum by 16,338.3% during the 4th quarter. Demars Financial Group LLC now owns 4,177,133 shares of the oil and gas company's stock worth $582,710,000 after purchasing an additional 4,151,722 shares during the last quarter. Norges Bank purchased a new stake in shares of Marathon Petroleum during the fourth quarter worth $453,427,000. GAMMA Investing LLC raised its position in shares of Marathon Petroleum by 14,969.1% in the first quarter. GAMMA Investing LLC now owns 1,540,963 shares of the oil and gas company's stock valued at $224,503,000 after buying an additional 1,530,737 shares during the last quarter. Finally, Boston Partners lifted its stake in Marathon Petroleum by 37.4% in the 4th quarter. Boston Partners now owns 3,436,704 shares of the oil and gas company's stock worth $480,501,000 after purchasing an additional 935,042 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Trading Down 1.3%

Marathon Petroleum stock traded down $2.10 during midday trading on Friday, reaching $165.42. 445,786 shares of the stock traded hands, compared to its average volume of 2,683,705. The firm has a market cap of $50.82 billion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 3.27 and a beta of 0.89. The company has a current ratio of 1.19, a quick ratio of 0.73 and a debt-to-equity ratio of 1.16. The company has a 50-day simple moving average of $155.11 and a two-hundred day simple moving average of $147.28. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $183.31.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, beating analysts' consensus estimates of ($0.40) by $0.16. The firm had revenue of $31.85 billion during the quarter, compared to analysts' expectations of $28.91 billion. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The business's quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.58 earnings per share. Research analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Wednesday, May 21st. Marathon Petroleum's dividend payout ratio is presently 51.20%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on MPC shares. Piper Sandler lowered their price objective on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Mizuho lifted their price target on Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Morgan Stanley dropped their price objective on shares of Marathon Petroleum from $175.00 to $160.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Evercore ISI started coverage on shares of Marathon Petroleum in a research note on Wednesday, June 18th. They set an "in-line" rating and a $170.00 target price on the stock. Finally, TD Cowen raised their target price on Marathon Petroleum from $152.00 to $163.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $175.80.

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.