Miller Howard Investments Inc. NY Has $7.42 Million Stock Holdings in Marathon Petroleum Corporation $MPC

Key Points

• Miller Howard Investments Inc. increased its stake in Marathon Petroleum Corporation by 62.3%, owning 44,676 shares worth approximately $7.4 million after acquiring 17,155 additional shares in the second quarter.
• Marathon Petroleum reported earnings per share of $3.96 for the quarter, surpassing analysts' expectations of $3.22, while its revenue of $34.1 billion also exceeded expectations.
• The company recently announced a quarterly dividend of $0.91, representing an annual yield of 2.0% and a payout ratio of 54.01%.

Miller Howard Investments Inc. NY lifted its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 62.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,676 shares of the oil and gas company's stock after purchasing an additional 17,155 shares during the quarter. Miller Howard Investments Inc. NY's holdings in Marathon Petroleum were worth $7,421,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Baker Tilly Wealth Management LLC increased its stake in Marathon Petroleum by 2.8% in the 2nd quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company's stock worth $370,000 after purchasing an additional 60 shares during the period. Sunpointe LLC increased its position in Marathon Petroleum by 4.1% during the second quarter. Sunpointe LLC now owns 1,750 shares of the oil and gas company's stock valued at $291,000 after acquiring an additional 69 shares during the last quarter. Beverly Hills Private Wealth LLC grew its holdings in Marathon Petroleum by 1.3% during the first quarter. Beverly Hills Private Wealth LLC now owns 6,739 shares of the oil and gas company's stock valued at $982,000 after purchasing an additional 84 shares during the period. Valmark Advisers Inc. boosted its stake in shares of Marathon Petroleum by 2.3% in the first quarter. Valmark Advisers Inc. now owns 3,801 shares of the oil and gas company's stock worth $554,000 after acquiring an additional 86 shares during the period. Finally, Southland Equity Partners LLC boosted its stake in Marathon Petroleum by 6.2% during the first quarter. Southland Equity Partners LLC now owns 1,549 shares of the oil and gas company's stock valued at $226,000 after buying an additional 90 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Price Performance

Shares of MPC stock traded up $3.88 during trading hours on Tuesday, hitting $191.13. 527,438 shares of the company's stock were exchanged, compared to its average volume of 2,549,551. 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 12-month low of $115.10 and a 12-month high of $192.61. The company has a market capitalization of $58.11 billion, a PE ratio of 28.34, a PEG ratio of 3.43 and a beta of 0.97. The business's 50 day simple moving average is $173.45 and its 200-day simple moving average is $159.06.

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

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 1.9%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum's dividend payout ratio is presently 54.01%.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the company's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the sale, the director owned 18,944 shares in the company, valued at $3,315,200. This represents a 28.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Molly R. Benson sold 10,879 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the sale, the insider directly owned 28,700 shares of the company's stock, valued at $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Bank of America boosted their target price on Marathon Petroleum from $184.00 to $192.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 3rd. Raymond James Financial boosted their target price on Marathon Petroleum from $195.00 to $199.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 9th. Wells Fargo & Company increased their target price on Marathon Petroleum from $182.00 to $205.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Dbs Bank upgraded Marathon Petroleum to a "moderate buy" rating in a research note on Monday, July 28th. Finally, Barclays boosted their target price on Marathon Petroleum from $159.00 to $189.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Marathon Petroleum has a consensus rating of "Moderate Buy" and an average target price of $192.50.

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.