Industry News

Fisher Asset Management LLC Trims Stock Holdings in Marathon Petroleum Corp (NYSE:MPC)

By August 18, 2019 No Comments

Fisher Asset Management LLC trimmed its position in Marathon Petroleum Corp (NYSE:MPC) by 8.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,475 shares of the oil and gas company’s stock after selling 781 shares during the period. Fisher Asset Management LLC’s holdings in Marathon Petroleum were worth $474,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Marathon Petroleum by 1.0% in the first quarter. BlackRock Inc. now owns 55,146,715 shares of the oil and gas company’s stock worth $3,300,532,000 after acquiring an additional 565,583 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Marathon Petroleum by 70.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,065,459 shares of the oil and gas company’s stock worth $593,940,000 after acquiring an additional 4,153,879 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Marathon Petroleum by 8.3% in the fourth quarter. Geode Capital Management LLC now owns 8,732,890 shares of the oil and gas company’s stock worth $514,399,000 after acquiring an additional 671,836 shares during the last quarter. Iridian Asset Management LLC CT grew its stake in shares of Marathon Petroleum by 7.0% in the first quarter. Iridian Asset Management LLC CT now owns 5,511,516 shares of the oil and gas company’s stock worth $329,864,000 after acquiring an additional 361,000 shares during the last quarter. Finally, LSV Asset Management grew its stake in shares of Marathon Petroleum by 4.3% in the first quarter. LSV Asset Management now owns 5,233,573 shares of the oil and gas company’s stock worth $313,229,000 after acquiring an additional 216,163 shares during the last quarter. 76.94% of the stock is currently owned by institutional investors.

A number of research firms have recently commented on MPC. Zacks Investment Research cut Marathon Petroleum from a “hold” rating to a “strong sell” rating in a research note on Friday, May 17th. Wells Fargo & Co cut their target price on Marathon Petroleum from $96.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Royal Bank of Canada cut their target price on Marathon Petroleum from $71.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Raymond James increased their target price on Marathon Petroleum from $72.00 to $75.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Morgan Stanley cut their target price on Marathon Petroleum from $82.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, May 17th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Marathon Petroleum presently has a consensus rating of “Buy” and a consensus target price of $82.62.

Shares of NYSE:MPC opened at $45.40 on Friday. The company has a market cap of $30.55 billion, a P/E ratio of 6.70, a PEG ratio of 1.29 and a beta of 1.68. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.24 and a quick ratio of 0.63. Marathon Petroleum Corp has a 1 year low of $43.96 and a 1 year high of $88.45. The stock’s fifty day moving average price is $53.67 and its 200-day moving average price is $56.78.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Thursday, August 1st. The oil and gas company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.40. The firm had revenue of $33.70 billion for the quarter, compared to the consensus estimate of $33.26 billion. Marathon Petroleum had a return on equity of 9.55% and a net margin of 2.36%. The company’s quarterly revenue was up 50.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.27 earnings per share. On average, sell-side analysts anticipate that Marathon Petroleum Corp will post 4.36 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date is Tuesday, August 20th. Marathon Petroleum’s payout ratio is currently 31.27%.

In other Marathon Petroleum news, Director James E. Rohr purchased 12,500 shares of the stock in a transaction dated Tuesday, June 11th. The shares were purchased at an average cost of $48.14 per share, with a total value of $601,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.06% of the company’s stock.

About Marathon Petroleum

Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & 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.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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