LGT Fund Management Co Ltd. Buys 34,253 Shares of Marathon Petroleum Corporation $MPC

LGT Fund Management Co Ltd. increased its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 2,357.4% during the 1st quarter, Holdings Channel.com reports. The fund owned 35,706 shares of the oil and gas company’s stock after purchasing an additional 34,253 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Marathon Petroleum were worth $8,719,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of MPC. Navalign LLC purchased a new position in shares of Marathon Petroleum in the fourth quarter worth $30,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Marathon Petroleum during the 4th quarter valued at $31,000. Berbice Capital Management LLC grew its holdings in Marathon Petroleum by 100.0% in the 4th quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 100 shares during the last quarter. WFA of San Diego LLC purchased a new position in shares of Marathon Petroleum in the second quarter valued at about $33,000. Finally, Ares Financial Consulting LLC bought a new position in shares of Marathon Petroleum during the fourth quarter valued at about $34,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value of $1,703,243.52. Following the transaction, the vice president owned 16,900 shares in the company, valued at $4,543,058. The trade was a 27.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

Marathon Petroleum Stock Up 0.1%

Shares of MPC traded up $0.30 during mid-day trading on Friday, reaching $283.60. The company had a trading volume of 1,932,314 shares, compared to its average volume of 2,239,416. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18. The company has a market capitalization of $82.79 billion, a price-to-earnings ratio of 18.51, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52. The firm has a 50-day moving average price of $256.82 and a 200 day moving average price of $222.50. Marathon Petroleum Corporation has a 52 week low of $158.00 and a 52 week high of $287.15.

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 for the quarter, beating analysts’ consensus estimates of $0.74 by $0.91. The company 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 firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.24) EPS. On average, sell-side analysts forecast that Marathon Petroleum Corporation will post 32.96 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were issued a dividend of $1.00 per share. The ex-dividend date was Wednesday, May 20th. This represents a $4.00 annualized dividend and a dividend yield of 1.4%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 26.11%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. JPMorgan Chase & Co. raised their target price on Marathon Petroleum from $235.00 to $257.00 in a research note on Wednesday, May 6th. TD Cowen dropped their price objective on Marathon Petroleum from $320.00 to $315.00 and set a “buy” rating for the company in a report on Monday, June 29th. Jefferies Financial Group boosted their price objective on shares of Marathon Petroleum from $279.00 to $296.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Marathon Petroleum in a research note on Friday, June 12th. Finally, Piper Sandler increased their price objective on Marathon Petroleum from $197.00 to $228.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Ten analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus price target of $274.88.

Marathon Petroleum Company Profile

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.