MAI Capital Management Buys 2,870 Shares of Marathon Petroleum Corporation $MPC

MAI Capital Management raised its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 14.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 23,141 shares of the oil and gas company’s stock after acquiring an additional 2,870 shares during the period. MAI Capital Management’s holdings in Marathon Petroleum were worth $4,460,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MPC. Delos Wealth Advisors LLC bought a new stake in shares of Marathon Petroleum during the second quarter valued at approximately $25,000. NewSquare Capital LLC boosted its holdings in shares of Marathon Petroleum by 103.1% during the 2nd quarter. NewSquare Capital LLC now owns 199 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 101 shares in the last quarter. WFA of San Diego LLC purchased a new stake in shares of Marathon Petroleum in the 2nd quarter worth about $33,000. Transce3nd LLC increased its stake in shares of Marathon Petroleum by 10,250.0% in the 2nd quarter. Transce3nd LLC now owns 207 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 205 shares in the last quarter. Finally, Stone House Investment Management LLC increased its stake in shares of Marathon Petroleum by 46.1% in the 2nd quarter. Stone House Investment Management LLC now owns 225 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Up 2.7%

Marathon Petroleum stock opened at $201.13 on Friday. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $210.32. The stock has a fifty day simple moving average of $181.48 and a two-hundred day simple moving average of $184.05. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 1.31. The firm has a market cap of $60.46 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 1.27 and a beta of 0.74.

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

Marathon Petroleum Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Scotiabank restated an “outperform” rating and issued a $174.00 price objective on shares of Marathon Petroleum in a report on Friday, January 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marathon Petroleum in a research report on Thursday, January 22nd. The Goldman Sachs Group lifted their price objective on Marathon Petroleum from $204.00 to $211.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Wall Street Zen cut Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Finally, Zacks Research lowered Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Ten research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $202.19.

About Marathon Petroleum

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.