CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Boosts Stock Holdings in Marathon Petroleum Corporation (NYSE:MPC)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 20.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 86,528 shares of the oil and gas company's stock after acquiring an additional 14,866 shares during the quarter. Marathon Petroleum accounts for about 0.8% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's portfolio, making the stock its 24th largest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings in Marathon Petroleum were worth $12,606,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Wellington Management Group LLP grew its stake 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 grew its stake in shares of Marathon Petroleum by 16,338.3% during the fourth 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 in the last quarter. Norges Bank acquired a new position in shares of Marathon Petroleum during the fourth quarter worth $453,427,000. GAMMA Investing LLC grew its stake in shares of Marathon Petroleum by 14,969.1% during the first quarter. GAMMA Investing LLC now owns 1,540,963 shares of the oil and gas company's stock worth $224,503,000 after purchasing an additional 1,530,737 shares in the last quarter. Finally, Boston Partners grew its stake in shares of Marathon Petroleum by 37.4% during the fourth 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. Hedge funds and other institutional investors own 76.77% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on MPC. Barclays boosted their target price on shares of Marathon Petroleum from $141.00 to $159.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. Mizuho upped their price objective on shares of Marathon Petroleum from $168.00 to $184.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Evercore ISI assumed coverage on shares of Marathon Petroleum in a research note on Wednesday, June 18th. They issued an "in-line" rating and a $170.00 price objective for the company. Piper Sandler decreased their price objective on shares of Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. Finally, Wall Street Zen upgraded shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $175.80.

Marathon Petroleum Stock Performance

Shares of MPC traded up $0.17 during mid-day trading on Friday, hitting $167.69. 8,636,560 shares of the company's stock were exchanged, compared to its average volume of 2,716,466. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $183.31. The firm has a market capitalization of $51.52 billion, a P/E ratio of 23.58, a P/E/G ratio of 3.30 and a beta of 0.89. The business's 50 day moving average is $155.91 and its two-hundred day moving average is $147.36. The company has a current ratio of 1.19, a quick ratio of 0.73 and a debt-to-equity ratio of 1.16.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.16. The business had revenue of $31.85 billion during the quarter, compared to the consensus estimate 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 prior year, the firm earned $2.58 earnings per share. On average, equities analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $3.64 annualized dividend and a yield of 2.17%. Marathon Petroleum's dividend payout ratio is currently 51.20%.

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.