Smith Group Asset Management LLC Buys 2,960 Shares of Marathon Petroleum Corporation (NYSE:MPC)

Smith Group Asset Management LLC lifted its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 4.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,101 shares of the oil and gas company's stock after acquiring an additional 2,960 shares during the period. Smith Group Asset Management LLC's holdings in Marathon Petroleum were worth $10,941,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MPC. Fourth Dimension Wealth LLC bought a new stake in Marathon Petroleum in the fourth quarter worth about $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in Marathon Petroleum in the fourth quarter worth about $27,000. Decker Retirement Planning Inc. lifted its stake in Marathon Petroleum by 1,621.4% in the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock worth $35,000 after purchasing an additional 227 shares during the last quarter. Barnes Dennig Private Wealth Management LLC bought a new stake in Marathon Petroleum in the first quarter worth about $35,000. Finally, Cape Investment Advisory Inc. lifted its stake in Marathon Petroleum by 762.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company's stock worth $42,000 after purchasing an additional 267 shares during the last quarter. Institutional investors own 76.77% of the company's stock.

Analyst Upgrades and Downgrades

MPC has been the topic of a number of research reports. Barclays raised their target price on shares of Marathon Petroleum from $141.00 to $159.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. Wall Street Zen raised shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Wells Fargo & Company raised their target price on shares of Marathon Petroleum from $180.00 to $182.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 11th. Scotiabank cut their price objective on shares of Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating on the stock in a report on Friday, April 11th. Finally, Evercore ISI started coverage on shares of Marathon Petroleum in a report on Wednesday, June 18th. They set an "in-line" rating and a $170.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $176.13.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $166.14 on Tuesday. The stock has a market cap of $51.04 billion, a P/E ratio of 23.37, a price-to-earnings-growth ratio of 3.30 and a beta of 0.89. The company has a fifty day simple moving average of $156.70 and a 200-day simple moving average of $147.51. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $183.31. 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) EPS for the quarter, beating 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 business had revenue of $31.85 billion during the quarter, compared to analysts' expectations of $28.91 billion. During the same period in the prior year, the company earned $2.58 earnings per share. The business's revenue was down 4.1% compared to the same quarter last year. Equities analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Wednesday, May 21st. Marathon Petroleum's payout ratio is 51.20%.

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.

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