Miller Howard Investments Inc. NY Buys 2,958 Shares of Marathon Petroleum Corporation $MPC

Miller Howard Investments Inc. NY boosted its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 6.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 47,097 shares of the oil and gas company’s stock after buying an additional 2,958 shares during the period. Miller Howard Investments Inc. NY’s holdings in Marathon Petroleum were worth $11,500,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Kercheville Advisors LLC bought a new position in shares of Marathon Petroleum during the 1st quarter valued at about $212,000. Keudell Morrison Wealth Management bought a new stake in shares of Marathon Petroleum in the first quarter worth about $236,000. Cidel Asset Management Inc. increased its holdings in shares of Marathon Petroleum by 14.9% in the first quarter. Cidel Asset Management Inc. now owns 9,835 shares of the oil and gas company’s stock worth $2,402,000 after purchasing an additional 1,279 shares during the last quarter. Guyasuta Investment Advisors Inc. lifted its position in shares of Marathon Petroleum by 16.2% in the first quarter. Guyasuta Investment Advisors Inc. now owns 2,911 shares of the oil and gas company’s stock worth $711,000 after buying an additional 405 shares in the last quarter. Finally, New Covenant Trust Company N.A. bought a new position in Marathon Petroleum during the first quarter valued at approximately $224,000. 76.77% of the stock is currently owned by institutional investors.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the transaction, the vice president directly owned 16,900 shares of the company’s stock, valued at $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MPC has been the subject of several research analyst reports. Mizuho raised their price target on Marathon Petroleum from $224.00 to $284.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. Weiss Ratings cut Marathon Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Barclays raised their target price on shares of Marathon Petroleum from $230.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. TD Cowen boosted their price target on shares of Marathon Petroleum to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Raymond James Financial upped their price target on shares of Marathon Petroleum from $285.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, June 10th. Ten investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and a consensus target price of $272.94.

Marathon Petroleum Trading Up 0.7%

Shares of NYSE MPC opened at $249.13 on Wednesday. The business’s 50 day moving average is $246.18 and its two-hundred day moving average is $215.26. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73. Marathon Petroleum Corporation has a 1-year low of $158.00 and a 1-year high of $272.46. The stock has a market capitalization of $72.73 billion, a P/E ratio of 16.26, a PEG ratio of 0.38 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.91. The business had revenue of $34.20 billion during the quarter, compared to analyst estimates of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period last year, the company earned ($0.24) EPS. As a group, research analysts expect that Marathon Petroleum Corporation will post 31.35 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were given a $1.00 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a yield of 1.6%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 26.11%.

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.