Industry News

Koshinski Asset Management Inc. Lowers Holdings in Marathon Petroleum Corp (NYSE:MPC)

By August 16, 2019 No Comments

Koshinski Asset Management Inc. lowered its position in Marathon Petroleum Corp (NYSE:MPC) by 13.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,619 shares of the oil and gas company’s stock after selling 561 shares during the period. Koshinski Asset Management Inc.’s holdings in Marathon Petroleum were worth $202,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in shares of Marathon Petroleum by 1.0% during 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 purchasing an additional 565,583 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in 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 lifted its holdings in 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 lifted its holdings in 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 lifted its holdings in 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. Institutional investors and hedge funds own 76.94% of the company’s stock.

In other Marathon Petroleum news, Director James E. Rohr bought 12,500 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were acquired at an average price of $48.14 per share, with a total value of $601,750.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.06% of the company’s stock.

Shares of MPC opened at $45.40 on Friday. The company’s fifty day moving average price is $53.67 and its 200 day moving average price is $56.78. Marathon Petroleum Corp has a one year low of $43.96 and a one year high of $88.45. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.24 and a quick ratio of 0.63. The company has a market capitalization of $31.04 billion, a PE ratio of 6.70, a price-to-earnings-growth ratio of 1.31 and a beta of 1.68.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.40. The company had revenue of $33.70 billion for the quarter, compared to the consensus estimate of $33.26 billion. Marathon Petroleum had a net margin of 2.36% and a return on equity of 9.55%. The business’s revenue was up 50.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.27 EPS. Analysts anticipate that Marathon Petroleum Corp will post 4.34 earnings per share for the current year.

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

A number of equities analysts have issued reports on the stock. Morgan Stanley cut their target price on shares of Marathon Petroleum from $82.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, May 17th. Royal Bank of Canada cut their price target on Marathon Petroleum from $71.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Wells Fargo & Co cut their price target on Marathon Petroleum from $96.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. ValuEngine raised Marathon Petroleum from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 22nd. Finally, Credit Suisse Group lowered their price objective on shares of Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, May 13th. Two analysts have rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Marathon Petroleum currently has an average rating of “Buy” and an average price target of $82.62.

Marathon Petroleum Profile

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: Price to Earnings Ratio (PE) Basics

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

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