Marathon Petroleum Corporation (NYSE:MPC) Shares Acquired by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY grew its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 10.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,521 shares of the oil and gas company's stock after buying an additional 2,640 shares during the quarter. Miller Howard Investments Inc. NY's holdings in Marathon Petroleum were worth $4,009,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Aaron Wealth Advisors LLC lifted its holdings in shares of Marathon Petroleum by 10.6% in the 1st quarter. Aaron Wealth Advisors LLC now owns 2,580 shares of the oil and gas company's stock worth $376,000 after buying an additional 247 shares during the period. Keybank National Association OH lifted its holdings in shares of Marathon Petroleum by 14.1% in the 1st quarter. Keybank National Association OH now owns 31,319 shares of the oil and gas company's stock worth $4,563,000 after buying an additional 3,865 shares during the period. DAVENPORT & Co LLC lifted its holdings in shares of Marathon Petroleum by 1.2% in the 1st quarter. DAVENPORT & Co LLC now owns 33,681 shares of the oil and gas company's stock worth $4,899,000 after buying an additional 385 shares during the period. Summit Trail Advisors LLC lifted its stake in shares of Marathon Petroleum by 4.4% during the 1st quarter. Summit Trail Advisors LLC now owns 19,769 shares of the oil and gas company's stock worth $2,880,000 after purchasing an additional 832 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Marathon Petroleum by 0.6% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 38,444 shares of the oil and gas company's stock worth $5,601,000 after purchasing an additional 228 shares during the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on MPC. Scotiabank decreased their price objective on Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. Morgan Stanley decreased their price objective on Marathon Petroleum from $175.00 to $160.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Piper Sandler decreased their price objective on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. Wall Street Zen upgraded Marathon Petroleum from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, TD Cowen upped their price objective 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 assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $176.13.

Marathon Petroleum Stock Performance

MPC traded down $2.46 during trading on Friday, reaching $172.01. 1,135,939 shares of the company's stock were exchanged, compared to its average volume of 2,708,487. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $183.31. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.19 and a quick ratio of 0.73. The stock has a market capitalization of $52.84 billion, a P/E ratio of 24.19, a price-to-earnings-growth ratio of 3.46 and a beta of 0.88. The company's fifty day simple moving average is $159.64 and its 200-day simple moving average is $148.32.

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

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders 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 yield of 2.12%. The ex-dividend date of this dividend was Wednesday, May 21st. Marathon Petroleum's dividend payout ratio is presently 51.20%.

Marathon Petroleum 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.