Bank of New York Mellon Corp Has $725.88 Million Position in Marathon Petroleum Corporation (NYSE:MPC)

Bank of New York Mellon Corp raised its position in Marathon Petroleum Corporation (NYSE:MPC) by 3.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,982,348 shares of the oil and gas company’s stock after acquiring an additional 178,397 shares during the quarter. Bank of New York Mellon Corp’s holdings in Marathon Petroleum were worth $725,878,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in MPC. Fourth Dimension Wealth LLC bought a new position in shares of Marathon Petroleum in the fourth quarter valued at about $26,000. Decker Retirement Planning Inc. raised its position in shares of Marathon Petroleum by 1,621.4% in the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 227 shares during the period. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Marathon Petroleum in the first quarter valued at about $35,000. OFI Invest Asset Management bought a new position in shares of Marathon Petroleum in the fourth quarter valued at about $44,000. Finally, Capital A Wealth Management LLC bought a new position in shares of Marathon Petroleum in the fourth quarter valued at about $52,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

MPC has been the topic of several research analyst reports. Raymond James Financial reissued a “strong-buy” rating on shares of Marathon Petroleum in a research report on Monday, June 30th. Evercore ISI initiated coverage on shares of Marathon Petroleum in a research report on Wednesday, June 18th. They issued an “in-line” rating and a $170.00 price objective on the stock. Mizuho increased their price objective on shares of Marathon Petroleum from $168.00 to $184.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. Scotiabank dropped their price objective on shares of Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating on the stock in a research report on Friday, April 11th. Finally, TD Cowen raised their price target on shares of Marathon Petroleum from $152.00 to $163.00 and gave the stock a “buy” rating in a research report on Tuesday, June 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $176.13.

Marathon Petroleum Trading Down 1.4%

Shares of Marathon Petroleum stock opened at $172.01 on Friday. The firm has a market capitalization of $52.84 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 3.46 and a beta of 0.88. The company has a current ratio of 1.19, a quick ratio of 0.73 and a debt-to-equity ratio of 1.16. The firm’s 50 day moving average is $159.64 and its 200 day moving average is $148.41. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $183.31.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.16. The company had revenue of $31.85 billion for the quarter, compared to analyst estimates of $28.91 billion. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The firm’s revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.58 EPS. Equities research analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Wednesday, May 21st. Marathon Petroleum’s dividend payout ratio (DPR) is presently 51.20%.

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.