Oppenheimer Asset Management Inc. Buys 3,291 Shares of Marathon Petroleum Corporation (NYSE:MPC)

Oppenheimer Asset Management Inc. raised its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 8.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,387 shares of the oil and gas company's stock after acquiring an additional 3,291 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Marathon Petroleum were worth $6,467,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Wellington Management Group LLP lifted its holdings in shares of Marathon Petroleum by 78.1% during the 4th quarter. Wellington Management Group LLP now owns 9,961,503 shares of the oil and gas company's stock valued at $1,389,630,000 after purchasing an additional 4,367,774 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Marathon Petroleum by 7.0% during the 4th quarter. Bank of New York Mellon Corp now owns 4,803,951 shares of the oil and gas company's stock valued at $670,151,000 after purchasing an additional 315,786 shares during the last quarter. Demars Financial Group LLC lifted its holdings in shares of Marathon Petroleum by 12.8% during the 1st quarter. Demars Financial Group LLC now owns 4,713,595 shares of the oil and gas company's stock valued at $686,724,000 after purchasing an additional 536,462 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Marathon Petroleum by 11.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,399,977 shares of the oil and gas company's stock valued at $613,624,000 after purchasing an additional 452,043 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Marathon Petroleum by 14.0% during the 4th quarter. Northern Trust Corp now owns 3,937,348 shares of the oil and gas company's stock valued at $549,260,000 after purchasing an additional 484,438 shares during the last quarter. Institutional investors own 76.77% of the company's stock.

Marathon Petroleum Price Performance

NYSE:MPC opened at $165.35 on Wednesday. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $183.31. The company has a quick ratio of 0.73, a current ratio of 1.19 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $50.80 billion, a PE ratio of 23.26, a price-to-earnings-growth ratio of 3.29 and a beta of 0.89. The stock's 50-day moving average price is $153.47 and its 200-day moving average price is $147.05.

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

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st were paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Wednesday, May 21st. Marathon Petroleum's dividend payout ratio (DPR) is 51.20%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MPC. Evercore ISI began coverage on Marathon Petroleum in a report on Wednesday, June 18th. They set an "in-line" rating and a $170.00 price objective for the company. 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 report on Friday, April 11th. Mizuho increased their price objective on Marathon Petroleum from $168.00 to $184.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Raymond James Financial reduced their target price on Marathon Petroleum from $193.00 to $183.00 and set a "strong-buy" rating for the company in a research note on Wednesday, April 9th. Finally, Wells Fargo & Company raised their target price on Marathon Petroleum from $180.00 to $182.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $175.80.

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.

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