Marathon Petroleum Corporation $MPC Holdings Boosted by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

Key Points

• CUSHING ASSET MANAGEMENT increased its Marathon Petroleum stake by 73.1% in the first quarter, buying 60,300 additional shares and bringing its total to 142,800 shares worth about $34.9 million.
• Marathon Petroleum beat earnings expectations in its latest quarter, posting $1.65 EPS versus the $0.74 consensus estimate and revenue of $34.2 billion, while revenue rose 8.5% year over year.
• Analysts remain constructive on MPC, with a consensus “Moderate Buy” rating and average price target of $272.62, while the stock recently traded near its 52-week high at $266.50.

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 73.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 142,800 shares of the oil and gas company's stock after acquiring an additional 60,300 shares during the period. Marathon Petroleum accounts for about 1.7% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's investment portfolio, making the stock its 16th biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings in Marathon Petroleum were worth $34,869,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in MPC. State Street Corp boosted its position in Marathon Petroleum by 0.3% during the 4th quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company's stock valued at $2,916,660,000 after purchasing an additional 47,896 shares during the period. Boston Partners increased its position in Marathon Petroleum by 2.3% in the third quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company's stock worth $1,214,522,000 after buying an additional 141,691 shares during the period. Norges Bank acquired a new stake in Marathon Petroleum in the fourth quarter worth $472,312,000. Charles Schwab Investment Management Inc. lifted its stake in Marathon Petroleum by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,818,361 shares of the oil and gas company's stock valued at $458,350,000 after buying an additional 11,693 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Marathon Petroleum by 2.7% in the fourth quarter. Invesco Ltd. now owns 2,600,191 shares of the oil and gas company's stock valued at $422,869,000 after buying an additional 67,600 shares during the last quarter. 76.77% of the stock is owned by institutional investors.

Insider Activity at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of the business's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the sale, the vice president owned 16,900 shares of the company's stock, valued at $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MPC has been the subject of several recent research reports. Scotiabank upped their price target on shares of Marathon Petroleum from $174.00 to $210.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, April 22nd. Jefferies Financial Group lifted their price objective on shares of Marathon Petroleum from $279.00 to $296.00 and gave the company a "buy" rating in a research report on Tuesday, May 26th. Morgan Stanley upped their target price on shares of Marathon Petroleum from $233.00 to $265.00 and gave the stock an "overweight" rating in a research report on Friday, June 12th. Bank of America raised their price target on shares of Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. Finally, Weiss Ratings downgraded Marathon Petroleum from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 6th. Ten research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $272.62.

Marathon Petroleum Stock Performance

MPC stock opened at $266.50 on Monday. The company has a 50-day simple moving average of $252.10 and a 200 day simple moving average of $219.16. The company has a market capitalization of $77.80 billion, a P/E ratio of 17.40, a PEG ratio of 0.39 and a beta of 0.52. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a fifty-two week low of $158.00 and a fifty-two week high of $272.46.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, beating the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The firm had revenue of $34.20 billion for the quarter, compared to analysts' expectations of $33.42 billion. During the same quarter last year, the company earned ($0.24) EPS. Marathon Petroleum's quarterly revenue was up 8.5% on a year-over-year basis. Sell-side analysts predict that Marathon Petroleum Corporation will post 32.96 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Wednesday, May 20th. Marathon Petroleum's dividend payout ratio (DPR) is currently 26.11%.

Marathon Petroleum Profile

Marathon Petroleum Corporation NYSE: MPC is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum's operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.

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