National Bank of Canada FI Acquires 156,303 Shares of Marathon Petroleum Co. (NYSE:MPC)

National Bank of Canada FI increased its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 136.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 270,637 shares of the oil and gas company’s stock after buying an additional 156,303 shares during the quarter. National Bank of Canada FI’s holdings in Marathon Petroleum were worth $47,303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its stake in Marathon Petroleum by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,153,636 shares of the oil and gas company’s stock valued at $764,526,000 after purchasing an additional 137,341 shares during the last quarter. Raymond James & Associates increased its position in shares of Marathon Petroleum by 2.6% during the second quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company’s stock worth $743,690,000 after purchasing an additional 107,915 shares in the last quarter. Norges Bank acquired a new stake in shares of Marathon Petroleum in the fourth quarter valued at about $500,685,000. Price T Rowe Associates Inc. MD lifted its stake in Marathon Petroleum by 1.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company’s stock worth $620,815,000 after purchasing an additional 31,100 shares in the last quarter. Finally, Boston Partners increased its stake in shares of Marathon Petroleum by 0.3% in the 1st 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 during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MPC shares. JPMorgan Chase & Co. decreased their price objective on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Barclays lowered their price target 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. Wells Fargo & Company cut their price objective on shares of Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Wolfe Research initiated coverage on Marathon Petroleum in a research note on Thursday, July 18th. They set an “outperform” rating and a $200.00 price target on the stock. Finally, Raymond James dropped their price target on Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating on the stock in a research report on Thursday, May 30th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average target price of $198.38.

Marathon Petroleum Price Performance

NYSE MPC opened at $168.46 on Friday. The company’s 50 day simple moving average is $171.36 and its 200 day simple moving average is $180.24. The firm has a market capitalization of $59.35 billion, a PE ratio of 8.41, a P/E/G ratio of 2.33 and a beta of 1.40. Marathon Petroleum Co. has a 12 month low of $139.32 and a 12 month high of $221.11. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data 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 net margin of 4.79% and a return on equity of 24.05%. The firm had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. During the same quarter last year, the business posted $5.32 EPS. The company’s revenue was up 4.2% on a year-over-year basis. As a group, equities research analysts forecast that Marathon Petroleum Co. will post 12.68 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio is presently 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.