Marathon Petroleum Co. (NYSE:MPC) Shares Acquired by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC increased its stake in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 191.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,489 shares of the oil and gas company's stock after buying an additional 4,265 shares during the quarter. Exchange Traded Concepts LLC's holdings in Marathon Petroleum were worth $1,057,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MPC. Raymond James & Associates boosted its holdings in Marathon Petroleum by 2.6% in the 2nd 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 in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Marathon Petroleum by 1.0% in the 1st 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 purchasing an additional 31,100 shares in the last quarter. Boston Partners boosted its stake in shares of Marathon Petroleum by 0.3% during the 1st 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 in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Marathon Petroleum by 8.5% during the 2nd quarter. Pacer Advisors Inc. now owns 2,669,815 shares of the oil and gas company's stock worth $463,160,000 after acquiring an additional 209,270 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of Marathon Petroleum by 7.6% during the 1st quarter. Acadian Asset Management LLC now owns 1,663,835 shares of the oil and gas company's stock worth $335,241,000 after acquiring an additional 117,790 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company's stock.

Marathon Petroleum Trading Up 0.3 %

Shares of MPC stock traded up $0.41 on Thursday, reaching $158.31. 2,407,872 shares of the stock were exchanged, compared to its average volume of 2,685,204. The firm has a 50 day moving average of $168.39 and a two-hundred day moving average of $176.35. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. Marathon Petroleum Co. has a 1-year low of $140.98 and a 1-year high of $221.11. The stock has a market cap of $55.78 billion, a P/E ratio of 7.89, a price-to-earnings-growth ratio of 2.65 and a beta of 1.37.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, topping analysts' consensus estimates of $3.09 by $1.03. The firm had revenue of $38.36 billion during the quarter, compared to analysts' expectations of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The firm's revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the company earned $5.32 EPS. On average, research analysts anticipate that Marathon Petroleum Co. will post 10.22 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were given a $0.825 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $3.30 dividend on an annualized basis and a yield of 2.08%. Marathon Petroleum's payout ratio is currently 16.48%.

Analyst Ratings Changes

Several brokerages have recently commented on MPC. Tudor Pickering lowered Marathon Petroleum from a "strong-buy" rating to a "strong sell" rating in a research note on Monday, September 9th. Jefferies Financial Group lifted their price objective on Marathon Petroleum from $222.00 to $231.00 and gave the stock a "buy" rating in a research report on Monday, July 15th. Wolfe Research started coverage on Marathon Petroleum in a research report on Thursday, July 18th. They set an "outperform" rating and a $200.00 price objective for the company. Tudor, Pickering, Holt & Co. downgraded Marathon Petroleum from a "buy" rating to a "sell" rating in a research report on Monday, September 9th. Finally, JPMorgan Chase & Co. cut their price objective on Marathon Petroleum from $172.00 to $171.00 and set a "neutral" rating for the company in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Marathon Petroleum currently has a consensus rating of "Moderate Buy" and an average target price of $187.00.

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.