Marathon Petroleum Co. (NYSE:MPC) Shares Bought by Hartford Financial Management Inc.


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Hartford Financial Management Inc. boosted its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 3.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,494 shares of the oil and gas company’s stock after purchasing an additional 348 shares during the period. Hartford Financial Management Inc.’s holdings in Marathon Petroleum were worth $508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of MPC. Norges Bank acquired a new position in shares of Marathon Petroleum in the fourth quarter worth about $331,000,000. Baupost Group LLC MA purchased a new stake in shares of Marathon Petroleum in the 4th quarter valued at approximately $318,088,000. Morgan Stanley grew its stake in shares of Marathon Petroleum by 43.1% in the 4th quarter. Morgan Stanley now owns 17,274,944 shares of the oil and gas company’s stock valued at $714,492,000 after buying an additional 5,206,764 shares during the period. Amundi Pioneer Asset Management Inc. grew its stake in shares of Marathon Petroleum by 126.7% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 4,319,504 shares of the oil and gas company’s stock valued at $178,655,000 after buying an additional 2,413,857 shares during the period. Finally, Laurion Capital Management LP grew its stake in shares of Marathon Petroleum by 6,128.3% in the 4th quarter. Laurion Capital Management LP now owns 2,193,426 shares of the oil and gas company’s stock valued at $90,720,000 after buying an additional 2,158,209 shares during the period. Institutional investors own 73.69% of the company’s stock.

Several brokerages have recently commented on MPC. Wells Fargo & Company upped their price objective on shares of Marathon Petroleum from $60.00 to $66.00 and gave the stock an “overweight” rating in a report on Thursday, February 25th. Mizuho upped 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. Morgan Stanley upped their price objective on shares of Marathon Petroleum from $52.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, March 17th. TheStreet upgraded shares of Marathon Petroleum from a “d+” rating to a “c-” rating in a report on Monday, March 8th. Finally, JPMorgan Chase & Co. upgraded shares of Marathon Petroleum from a “neutral” rating to an “overweight” rating and set a $67.00 price objective on the stock in a report on Monday, March 1st. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Marathon Petroleum currently has an average rating of “Buy” and a consensus price target of $51.50.

Shares of NYSE MPC remained flat at $$53.87 during mid-day trading on Friday. 4,410,724 shares of the company were exchanged, compared to its average volume of 6,126,437. The company has a current ratio of 1.84, a quick ratio of 1.32 and a debt-to-equity ratio of 0.99. The stock has a 50-day simple moving average of $55.06 and a 200 day simple moving average of $43.52. The stock has a market cap of $35.08 billion, a PE ratio of -3.56 and a beta of 2.24. Marathon Petroleum Co. has a 1 year low of $21.90 and a 1 year high of $59.93.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Monday, February 1st. The oil and gas company reported ($0.94) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.41) by $0.47. Marathon Petroleum had a negative net margin of 11.11% and a negative return on equity of 1.81%. The company had revenue of $18.19 billion for the quarter, compared to the consensus estimate of $17.68 billion. During the same period last year, the firm posted $1.56 EPS. Marathon Petroleum’s revenue for the quarter was down 35.4% on a year-over-year basis. Research analysts predict that Marathon Petroleum Co. will post -3.81 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 10th. Investors of record on Wednesday, February 17th were issued a $0.58 dividend. The ex-dividend date of this dividend was Tuesday, February 16th. This represents a $2.32 dividend on an annualized basis and a yield of 4.31%. Marathon Petroleum’s payout ratio is 46.96%.

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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