DNB Asset Management AS Buys 678 Shares of Marathon Petroleum Corporation $MPC

DNB Asset Management AS grew its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 1.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 60,810 shares of the oil and gas company’s stock after acquiring an additional 678 shares during the quarter. DNB Asset Management AS’s holdings in Marathon Petroleum were worth $10,101,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MPC. Brighton Jones LLC boosted its stake in 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 worth $696,000 after acquiring an additional 1,178 shares during the last quarter. Y Intercept Hong Kong Ltd raised its holdings in Marathon Petroleum by 118.9% in the first quarter. Y Intercept Hong Kong Ltd now owns 4,291 shares of the oil and gas company’s stock worth $625,000 after purchasing an additional 2,331 shares during the period. Venturi Wealth Management LLC boosted its position in shares of Marathon Petroleum by 7.4% during the first quarter. Venturi Wealth Management LLC now owns 2,344 shares of the oil and gas company’s stock worth $341,000 after purchasing an additional 161 shares in the last quarter. Pinnacle Associates Ltd. grew its holdings in shares of Marathon Petroleum by 3.1% in the 1st quarter. Pinnacle Associates Ltd. now owns 38,354 shares of the oil and gas company’s stock valued at $5,588,000 after buying an additional 1,155 shares during the period. Finally, Kovack Advisors Inc. increased its position in shares of Marathon Petroleum by 3.6% in the 1st quarter. Kovack Advisors Inc. now owns 3,524 shares of the oil and gas company’s stock valued at $513,000 after buying an additional 124 shares in the last quarter. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Stock Up 1.4%

Shares of MPC stock opened at $190.53 on Friday. The firm’s fifty day moving average price is $190.87 and its two-hundred day moving average price is $176.12. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $202.29. The firm has a market capitalization of $57.27 billion, a P/E ratio of 20.31, a PEG ratio of 4.57 and a beta of 0.90.

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

Marathon Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 19th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, November 19th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s payout ratio is currently 42.64%.

Analyst Upgrades and Downgrades

MPC has been the subject of a number of research analyst reports. TD Cowen decreased their target price on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Piper Sandler boosted their price objective on Marathon Petroleum from $220.00 to $231.00 and gave the company a “neutral” rating in a research report on Friday, November 14th. UBS Group increased their target price on Marathon Petroleum from $203.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Wells Fargo & Company cut their price target on shares of Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Finally, Dbs Bank upgraded shares of Marathon Petroleum to a “moderate buy” rating in a report on Monday, July 28th. Eight research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Marathon Petroleum presently has an average rating of “Hold” and an average price target of $202.14.

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.