Wendell David Associates Inc. Grows Stake in Marathon Petroleum Co. (NYSE:MPC)


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Wendell David Associates Inc. grew its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 0.8% during the first quarter, HoldingsChannel reports. The firm owned 75,885 shares of the oil and gas company’s stock after purchasing an additional 578 shares during the quarter. Wendell David Associates Inc.’s holdings in Marathon Petroleum were worth $4,059,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Marino Stram & Associates LLC bought a new stake in Marathon Petroleum during the 4th quarter valued at approximately $319,000. Canada Pension Plan Investment Board boosted its holdings in shares of Marathon Petroleum by 0.7% during the 4th quarter. Canada Pension Plan Investment Board now owns 4,194,055 shares of the oil and gas company’s stock valued at $173,466,000 after buying an additional 27,516 shares in the last quarter. Tompkins Financial Corp grew its position in shares of Marathon Petroleum by 36,552.9% in the 4th quarter. Tompkins Financial Corp now owns 18,693 shares of the oil and gas company’s stock worth $442,000 after buying an additional 18,642 shares during the period. AGF Investments Inc. lifted its position in Marathon Petroleum by 46.4% during the 4th quarter. AGF Investments Inc. now owns 1,644,750 shares of the oil and gas company’s stock valued at $68,027,000 after acquiring an additional 521,139 shares during the period. Finally, Concord Wealth Partners bought a new stake in Marathon Petroleum during the fourth quarter worth about $48,000. Institutional investors own 73.69% of the company’s stock.

Marathon Petroleum stock traded down $0.58 during trading hours on Thursday, hitting $52.73. The stock had a trading volume of 80,976 shares, compared to its average volume of 6,038,996. The stock’s fifty day moving average is $54.87 and its two-hundred day moving average is $44.27. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.84 and a quick ratio of 1.32. Marathon Petroleum Co. has a 1-year low of $24.09 and a 1-year high of $59.93. The stock has a market capitalization of $34.34 billion, a price-to-earnings ratio of -3.52 and a beta of 2.24.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Monday, February 1st. The oil and gas company reported ($0.94) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.41) by $0.47. The company had revenue of $18.19 billion for the quarter, compared to the consensus estimate of $17.68 billion. Marathon Petroleum had a negative return on equity of 1.81% and a negative net margin of 11.11%. The company’s quarterly revenue was down 35.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.56 EPS. As a group, sell-side analysts anticipate that Marathon Petroleum Co. will post -3.81 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 10th. Shareholders of record on Wednesday, February 17th were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Tuesday, February 16th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.40%. Marathon Petroleum’s payout ratio is presently 46.96%.

Several equities analysts have recently issued reports on the stock. UBS Group assumed coverage on shares of Marathon Petroleum in a report on Tuesday, January 26th. They set a “neutral” rating and a $47.00 target price for the company. Tudor Pickering raised Marathon Petroleum from a “hold” rating to a “buy” rating in a report on Thursday, January 21st. Raymond James upgraded Marathon Petroleum from a “market perform” rating to a “strong-buy” rating and set a $69.00 price target for the company in a report on Thursday. Mizuho boosted their price objective on shares of Marathon Petroleum from $40.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, February 26th. Finally, TheStreet upgraded shares of Marathon Petroleum from a “d+” rating to a “c-” rating in a report on Monday, March 8th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $51.50.

About Marathon Petroleum

Marathon Petroleum Corp. is an independent company, which engages in refining, marketing, and transportation of petroleum products in the United States. Itoperates through the following segments: Refining and Marketing; Retail; and Midstream. The Refining and Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States; purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals, and trucks that the company owns or operates.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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