Brookstone Capital Management Purchases 8,978 Shares of Marathon Petroleum Co. (NYSE:MPC)

Brookstone Capital Management increased its position in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 31.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,214 shares of the oil and gas company's stock after purchasing an additional 8,978 shares during the period. Brookstone Capital Management's holdings in Marathon Petroleum were worth $6,063,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of MPC. Raymond James & Associates raised its holdings in shares of Marathon Petroleum by 2.6% in the second quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company's stock valued at $743,690,000 after purchasing an additional 107,915 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Marathon Petroleum by 1.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company's stock valued at $620,815,000 after acquiring an additional 31,100 shares during the last quarter. Boston Partners lifted its holdings in Marathon Petroleum by 0.3% during the first quarter. Boston Partners now owns 2,773,050 shares of the oil and gas company's stock worth $558,390,000 after acquiring an additional 8,476 shares during the period. Pacer Advisors Inc. boosted its position in Marathon Petroleum by 8.5% in the second quarter. Pacer Advisors Inc. now owns 2,669,815 shares of the oil and gas company's stock worth $463,160,000 after purchasing an additional 209,270 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in Marathon Petroleum by 7.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,663,835 shares of the oil and gas company's stock valued at $335,241,000 after purchasing an additional 117,790 shares during the period. Institutional investors and hedge funds own 76.77% of the company's stock.

Marathon Petroleum Trading Up 1.4 %

Shares of NYSE MPC traded up $2.24 during midday trading on Thursday, hitting $164.85. The company's stock had a trading volume of 1,988,964 shares, compared to its average volume of 2,700,662. Marathon Petroleum Co. has a 12-month low of $140.98 and a 12-month high of $221.11. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86. The firm has a market cap of $58.08 billion, a P/E ratio of 8.26, a price-to-earnings-growth ratio of 2.59 and a beta of 1.37. The business's 50 day moving average is $169.06 and its two-hundred day moving average is $177.68.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, topping analysts' consensus estimates of $3.09 by $1.03. The business had revenue of $38.36 billion for the quarter, compared to the consensus estimate of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The company's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.32 EPS. As a group, equities research analysts expect that Marathon Petroleum Co. will post 10.56 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were issued a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum's dividend payout ratio is 16.48%.

Wall Street Analysts Forecast Growth

Several analysts have commented on MPC shares. StockNews.com lowered shares of Marathon Petroleum from a "buy" rating to a "hold" rating in a research report on Friday, June 14th. Wolfe Research started coverage on Marathon Petroleum in a research note on Thursday, July 18th. They issued an "outperform" rating and a $200.00 price objective on the stock. BMO Capital Markets decreased their target price on Marathon Petroleum from $200.00 to $190.00 and set an "outperform" rating for the company in a research report on Friday, October 4th. Jefferies Financial Group upped their price target on Marathon Petroleum from $222.00 to $231.00 and gave the company a "buy" rating in a research report on Monday, July 15th. Finally, Mizuho decreased their price objective on Marathon Petroleum from $198.00 to $193.00 and set a "neutral" rating for the company in a report on Monday, September 16th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Marathon Petroleum has an average rating of "Moderate Buy" and a consensus target price of $190.73.

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.