Marathon Petroleum Corporation $MPC Position Lessened by Rafferty Asset Management LLC

Rafferty Asset Management LLC decreased its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 7.4% in the third quarter, Holdings Channel.com reports. The firm owned 88,748 shares of the oil and gas company’s stock after selling 7,132 shares during the period. Rafferty Asset Management LLC’s holdings in Marathon Petroleum were worth $17,105,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of MPC. Brighton Jones LLC lifted its holdings in shares of Marathon Petroleum by 30.9% during the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock valued at $696,000 after buying an additional 1,178 shares during the last quarter. Woodline Partners LP raised its position in Marathon Petroleum by 38.3% during the first quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company’s stock valued at $3,889,000 after acquiring an additional 7,396 shares in the last quarter. Sivia Capital Partners LLC lifted its stake in Marathon Petroleum by 26.6% in the second quarter. Sivia Capital Partners LLC now owns 2,221 shares of the oil and gas company’s stock valued at $369,000 after acquiring an additional 466 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Marathon Petroleum by 31.2% in the second quarter. Envestnet Asset Management Inc. now owns 306,256 shares of the oil and gas company’s stock worth $50,872,000 after acquiring an additional 72,790 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its stake in shares of Marathon Petroleum by 133.2% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,404 shares of the oil and gas company’s stock worth $234,000 after purchasing an additional 802 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. UBS Group reaffirmed a “buy” rating and issued a $221.00 price objective on shares of Marathon Petroleum in a research note on Friday, February 6th. Barclays cut their target price on Marathon Petroleum from $202.00 to $194.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. Mizuho upped their price target on Marathon Petroleum from $198.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 13th. Piper Sandler decreased their price target on Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Finally, TD Cowen raised their price objective on Marathon Petroleum from $183.00 to $198.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. Eleven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $202.19.

Marathon Petroleum Price Performance

NYSE:MPC opened at $197.94 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $210.32. The company has a fifty day moving average price of $182.09 and a 200 day moving average price of $184.50. The stock has a market cap of $59.50 billion, a P/E ratio of 14.83, a PEG ratio of 1.29 and a beta of 0.74.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.73 by $0.34. The company had revenue of $32.57 billion for the quarter, compared to the consensus estimate of $30.89 billion. Marathon Petroleum had a net margin of 2.99% and a return on equity of 14.00%. The business’s revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.77 EPS. Analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 18th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $4.00 annualized dividend and a yield of 2.0%. Marathon Petroleum’s dividend payout ratio is 29.96%.

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.