Ieq Capital LLC Has $3.57 Million Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Ieq Capital LLC raised its position in Marathon Petroleum Co. (NYSE:MPC) by 11.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 20,549 shares of the oil and gas company’s stock after acquiring an additional 2,039 shares during the period. Ieq Capital LLC’s holdings in Marathon Petroleum were worth $3,565,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James & Associates grew its position in Marathon Petroleum by 2.6% in the 2nd quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company’s stock valued at $743,690,000 after purchasing an additional 107,915 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Marathon Petroleum by 1.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company’s stock valued at $620,815,000 after buying an additional 31,100 shares during the last quarter. Boston Partners increased its position in shares of Marathon Petroleum by 0.3% during the first quarter. Boston Partners now owns 2,773,050 shares of the oil and gas company’s stock worth $558,390,000 after acquiring an additional 8,476 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Marathon Petroleum by 7.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,663,835 shares of the oil and gas company’s stock worth $335,241,000 after acquiring an additional 117,790 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in Marathon Petroleum by 1.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,213,056 shares of the oil and gas company’s stock valued at $244,431,000 after acquiring an additional 12,536 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $164.39 on Friday. Marathon Petroleum Co. has a 12 month low of $139.32 and a 12 month high of $221.11. The stock has a market capitalization of $57.92 billion, a P/E ratio of 8.21, a PEG ratio of 2.09 and a beta of 1.38. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86. The firm’s 50 day moving average is $169.99 and its 200 day moving average is $179.80.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The firm had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. During the same period last year, the company earned $5.32 earnings per share. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, sell-side analysts anticipate that Marathon Petroleum Co. will post 12.68 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Petroleum’s payout ratio is 16.48%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Tudor, Pickering, Holt & Co. downgraded Marathon Petroleum from a “buy” rating to a “sell” rating in a research note on Monday, September 9th. Jefferies Financial Group lifted their price objective on shares of Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Barclays lowered their target price on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a report on Monday, July 1st. StockNews.com downgraded shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Finally, Wolfe Research started coverage on shares of Marathon Petroleum in a research report on Thursday, July 18th. They set an “outperform” rating and a $200.00 target price on the stock. Two analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $197.69.

Marathon Petroleum Profile

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.