182,743 Shares in Marathon Petroleum Co. (NYSE:MPC) Bought by Global Assets Advisory LLC

Global Assets Advisory LLC purchased a new position in shares of Marathon Petroleum Co. (NYSE:MPC) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 182,743 shares of the oil and gas company’s stock, valued at approximately $36,823,000. Global Assets Advisory LLC owned approximately 0.05% of Marathon Petroleum at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Stifel Financial Corp raised its holdings in shares of Marathon Petroleum by 0.6% in the 3rd quarter. Stifel Financial Corp now owns 201,855 shares of the oil and gas company’s stock valued at $30,549,000 after purchasing an additional 1,303 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Marathon Petroleum by 65.5% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 922 shares of the oil and gas company’s stock valued at $140,000 after purchasing an additional 365 shares during the period. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Marathon Petroleum by 3.9% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 6,259 shares of the oil and gas company’s stock valued at $947,000 after purchasing an additional 237 shares during the period. Asset Dedication LLC raised its holdings in shares of Marathon Petroleum by 29.7% in the 3rd quarter. Asset Dedication LLC now owns 655 shares of the oil and gas company’s stock valued at $100,000 after purchasing an additional 150 shares during the period. Finally, Certified Advisory Corp bought a new stake in shares of Marathon Petroleum in the 3rd quarter valued at about $228,000. 76.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MPC shares. The Goldman Sachs Group upped their target price on shares of Marathon Petroleum from $175.00 to $211.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Raymond James lowered their price target on shares of Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating on the stock in a report on Thursday, May 30th. StockNews.com cut shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Mizuho lowered their price target on shares of Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Finally, Bank of America increased their target price on shares of Marathon Petroleum from $185.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average price target of $192.08.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $173.99 on Tuesday. The company has a market cap of $61.30 billion, a price-to-earnings ratio of 8.69, a PEG ratio of 1.54 and a beta of 1.45. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 0.99. The firm has a 50 day simple moving average of $180.74 and a 200 day simple moving average of $175.13. Marathon Petroleum Co. has a one year low of $111.27 and a one year high of $221.11.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.25. The firm had revenue of $32.71 billion during the quarter, compared to the consensus estimate of $32.07 billion. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter last year, the firm earned $6.09 earnings per share. Research analysts predict that Marathon Petroleum Co. will post 18.65 earnings per share for the current fiscal year.

Marathon Petroleum declared that its Board of Directors has authorized a share repurchase program on Tuesday, April 30th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas company to buy up to 7.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Thursday, May 16th were paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Wednesday, May 15th. Marathon Petroleum’s payout ratio is currently 16.48%.

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.