NorthCrest Asset Manangement LLC Boosts Stake in Marathon Petroleum Co. (NYSE:MPC)

NorthCrest Asset Manangement LLC boosted its position in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 309.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,030 shares of the oil and gas company's stock after purchasing an additional 22,696 shares during the period. NorthCrest Asset Manangement LLC's holdings in Marathon Petroleum were worth $4,892,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MPC. Raymond James & Associates grew its position 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 grew its holdings in Marathon Petroleum by 1.0% during 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 buying an additional 31,100 shares during the last quarter. Boston Partners increased its position 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 buying an additional 8,476 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of 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 valued at $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 first 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 acquiring an additional 117,790 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Trading Down 0.3 %

MPC traded down $0.52 during trading on Friday, hitting $152.36. 1,046,293 shares of the company's stock were exchanged, compared to its average volume of 2,666,899. Marathon Petroleum Co. has a 1 year low of $140.98 and a 1 year high of $221.11. The stock has a 50 day moving average price of $165.37 and a 200 day moving average price of $173.52. The firm has a market cap of $53.68 billion, a P/E ratio of 7.61, a price-to-earnings-growth ratio of 3.03 and a beta of 1.37. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86.

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. As a group, analysts expect that Marathon Petroleum Co. will post 8.71 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Petroleum's dividend payout ratio (DPR) is presently 16.48%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MPC. Citigroup cut their target price on shares of Marathon Petroleum from $172.00 to $167.00 and set a "neutral" rating for the company in a research note on Thursday, October 10th. Barclays decreased their target price on shares of Marathon Petroleum from $180.00 to $168.00 and set an "overweight" rating on the stock in a research report on Thursday, October 10th. Scotiabank cut their price target on Marathon Petroleum from $191.00 to $170.00 and set a "sector outperform" rating for the company in a report on Thursday, October 10th. Tudor, Pickering, Holt & Co. cut Marathon Petroleum from a "buy" rating to a "sell" rating in a report on Monday, September 9th. Finally, Piper Sandler dropped their target price on Marathon Petroleum from $168.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $187.00.

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.