Rehmann Capital Advisory Group lifted its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 5.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,130 shares of the oil and gas company’s stock after buying an additional 495 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Marathon Petroleum were worth $810,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in MPC. Marshall Wace LLP bought a new position in shares of Marathon Petroleum in the 3rd quarter worth $1,255,000. Strategic Wealth Partners Ltd. lifted its holdings in shares of Marathon Petroleum by 7.9% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 17,183 shares of the oil and gas company’s stock worth $1,374,000 after purchasing an additional 1,251 shares in the last quarter. Carnegie Capital Asset Management LLC lifted its holdings in shares of Marathon Petroleum by 47.8% in the 3rd quarter. Carnegie Capital Asset Management LLC now owns 13,357 shares of the oil and gas company’s stock worth $876,000 after purchasing an additional 4,321 shares in the last quarter. Belpointe Asset Management LLC bought a new position in shares of Marathon Petroleum in the 3rd quarter worth $164,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Marathon Petroleum by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 35,373,004 shares of the oil and gas company’s stock worth $2,828,779,000 after purchasing an additional 255,599 shares in the last quarter. 83.16% of the stock is owned by institutional investors.
A number of equities analysts recently issued reports on the company. Zacks Investment Research upgraded Marathon Petroleum from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a report on Tuesday, October 9th. Wells Fargo & Co reiterated a “buy” rating on shares of Marathon Petroleum in a report on Monday, August 27th. Barclays began coverage on Marathon Petroleum in a report on Wednesday, October 3rd. They issued an “overweight” rating and a $125.00 target price on the stock. Citigroup raised their price objective on Marathon Petroleum from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, September 7th. Finally, Goldman Sachs Group began coverage on Marathon Petroleum in a research note on Tuesday, October 2nd. They set a “conviction-buy” rating on the stock. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $92.93.
Shares of NYSE:MPC opened at $61.56 on Friday. The company has a current ratio of 1.65, a quick ratio of 1.09 and a debt-to-equity ratio of 0.97. Marathon Petroleum Corp has a 1-year low of $60.64 and a 1-year high of $88.45. The firm has a market cap of $43.90 billion, a price-to-earnings ratio of 16.20, a P/E/G ratio of 0.78 and a beta of 1.43.
Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Thursday, November 1st. The oil and gas company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.02. Marathon Petroleum had a return on equity of 12.28% and a net margin of 4.48%. The business had revenue of $23.13 billion for the quarter, compared to analysts’ expectations of $23.20 billion. During the same period last year, the business earned $1.77 EPS. The business’s revenue was up 19.3% on a year-over-year basis. As a group, sell-side analysts forecast that Marathon Petroleum Corp will post 5.14 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Wednesday, November 21st will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Tuesday, November 20th. Marathon Petroleum’s payout ratio is 48.42%.
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Marathon Petroleum Company Profile
Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.
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