Citizens Financial Group Inc. RI Increases Stock Holdings in Marathon Petroleum Corporation $MPC

Citizens Financial Group Inc. RI raised its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 250.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 69,225 shares of the oil and gas company’s stock after purchasing an additional 49,495 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Marathon Petroleum were worth $11,499,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MPC. Jump Financial LLC grew its position in Marathon Petroleum by 128.0% during the 1st quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company’s stock valued at $1,262,000 after purchasing an additional 4,863 shares during the last quarter. Journey Strategic Wealth LLC lifted its stake in shares of Marathon Petroleum by 105.0% in the first quarter. Journey Strategic Wealth LLC now owns 8,582 shares of the oil and gas company’s stock worth $1,250,000 after buying an additional 4,396 shares in the last quarter. FSM Wealth Advisors LLC purchased a new stake in shares of Marathon Petroleum during the second quarter valued at approximately $685,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Marathon Petroleum by 12.6% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 578,641 shares of the oil and gas company’s stock valued at $84,302,000 after acquiring an additional 64,849 shares in the last quarter. Finally, United Capital Management of KS Inc. raised its holdings in Marathon Petroleum by 6.3% in the 1st quarter. United Capital Management of KS Inc. now owns 44,117 shares of the oil and gas company’s stock worth $6,427,000 after acquiring an additional 2,627 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Trading Up 2.7%

Shares of NYSE:MPC opened at $199.91 on Friday. The stock’s 50-day simple moving average is $189.65 and its two-hundred day simple moving average is $174.27. The stock has a market capitalization of $60.09 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 3.88 and a beta of 0.90. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $202.30. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.79 and a current ratio of 1.32.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.01. The firm had revenue of $34.81 billion for the quarter, compared to analysts’ expectations of $31.06 billion. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. Analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 19th will be paid a dividend of $1.00 per share. The ex-dividend date is Wednesday, November 19th. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s dividend payout ratio is 38.81%.

Analyst Ratings Changes

Several analysts have commented on MPC shares. Morgan Stanley increased their target price on Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, October 3rd. Wall Street Zen raised Marathon Petroleum from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Evercore ISI lifted their price objective on Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a report on Friday, September 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Marathon Petroleum in a research report on Wednesday, October 8th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Marathon Petroleum in a report on Thursday, October 9th. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Marathon Petroleum currently has an average rating of “Hold” and a consensus target price of $201.57.

Marathon Petroleum 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.