Reaves W H & Co. Inc. Raises Stock Holdings in Marathon Petroleum Corporation $MPC

Key Points

• Reaves W H & Co. Inc. boosted its Marathon Petroleum stake by 67% in the fourth quarter, bringing its holdings to 167,000 shares worth about $27.2 million.
• Marathon Petroleum reported strong quarterly results, with EPS of $1.65 versus the $0.74 estimate and revenue of $34.2 billion, topping expectations and rising 8.5% year over year.
• The company declared a $1.00 quarterly dividend payable June 10, implying a $4.00 annualized payout and a 1.6% yield; analysts currently rate the stock a Moderate Buy with a consensus target of $268.50.

Reaves W H & Co. Inc. increased its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 67.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 167,000 shares of the oil and gas company's stock after acquiring an additional 67,000 shares during the period. Reaves W H & Co. Inc. owned approximately 0.06% of Marathon Petroleum worth $27,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MPC. Boston Partners raised its stake in shares of Marathon Petroleum by 2.3% during the 3rd quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company's stock valued at $1,214,522,000 after buying an additional 141,691 shares during the last quarter. Norges Bank purchased a new position in shares of Marathon Petroleum during the 4th quarter valued at about $472,312,000. Legal & General Group Plc raised its stake in shares of Marathon Petroleum by 2.0% during the 3rd quarter. Legal & General Group Plc now owns 1,861,020 shares of the oil and gas company's stock valued at $358,693,000 after buying an additional 35,847 shares during the last quarter. Amundi raised its stake in shares of Marathon Petroleum by 11.8% during the 3rd quarter. Amundi now owns 1,626,862 shares of the oil and gas company's stock valued at $314,830,000 after buying an additional 172,172 shares during the last quarter. Finally, National Pension Service raised its stake in shares of Marathon Petroleum by 4.3% during the 4th quarter. National Pension Service now owns 885,426 shares of the oil and gas company's stock valued at $143,997,000 after buying an additional 36,158 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company's stock.

Marathon Petroleum Price Performance

NYSE:MPC opened at $248.45 on Monday. Marathon Petroleum Corporation has a 52 week low of $155.93 and a 52 week high of $264.14. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $72.53 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 0.40 and a beta of 0.52. The stock's 50-day moving average price is $240.26 and its 200-day moving average price is $207.78.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The firm had revenue of $34.20 billion for the quarter, compared to analysts' expectations of $33.42 billion. During the same period last year, the firm earned ($0.24) EPS. The company's quarterly revenue was up 8.5% on a year-over-year basis. As a group, equities analysts expect that Marathon Petroleum Corporation will post 30.05 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.6%. The ex-dividend date is Wednesday, May 20th. Marathon Petroleum's payout ratio is presently 26.11%.

Insider Transactions at Marathon Petroleum

In related news, insider Ricky D. Hessling sold 1,626 shares of Marathon Petroleum stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $228.18, for a total value of $371,020.68. Following the sale, the insider directly owned 7,525 shares in the company, valued at approximately $1,717,054.50. The trade was a 17.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 4,473 shares of company stock valued at $1,015,428. Insiders own 0.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Weiss Ratings lowered Marathon Petroleum from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 6th. Raymond James Financial reiterated an "outperform" rating on shares of Marathon Petroleum in a research note on Wednesday, May 6th. Wall Street Zen upgraded Marathon Petroleum from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 10th. Mizuho lifted their price objective on Marathon Petroleum from $224.00 to $284.00 and gave the company a "neutral" rating in a research note on Wednesday. Finally, Bank of America lifted their price objective on Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $268.50.

Key Marathon Petroleum News

Here are the key news stories impacting Marathon Petroleum this week:

• Positive Sentiment: Marathon Petroleum was upgraded to Zacks Rank #1 (Strong Buy), signaling stronger earnings expectations and a more favorable near-term outlook. What Makes Marathon Petroleum (MPC) a New Strong Buy Stock
• Positive Sentiment: MPC appeared on Zacks’ momentum, value, and growth stock screens, which reinforces investor interest from multiple angles. Best Momentum Stock to Buy for May 28th
• Positive Sentiment: The stock was also added to Zacks’ “New Strong Buy” and “Best Growth Stocks” lists, which may help sustain bullish sentiment among traders and growth-focused investors. New Strong Buy Stocks for May 28th
• Positive Sentiment: Marathon Petroleum was highlighted in a Zacks energy growth-stock article alongside other names benefiting from supply risks and strong demand, suggesting the sector backdrop remains supportive. 3 Energy Growth Stocks Riding Supply Risks and Strong Demand

Marathon Petroleum Company 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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