ARGI Investment Services LLC Raises Stake in Marathon Petroleum Co. (NYSE:MPC)

ARGI Investment Services LLC boosted its stake in Marathon Petroleum Co. (NYSE:MPC) by 2.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,031 shares of the oil and gas company’s stock after purchasing an additional 1,096 shares during the quarter. ARGI Investment Services LLC’s holdings in Marathon Petroleum were worth $2,536,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Bray Capital Advisors grew its stake in Marathon Petroleum by 0.8% during the third quarter. Bray Capital Advisors now owns 21,375 shares of the oil and gas company’s stock worth $1,321,000 after buying an additional 160 shares during the period. Center for Financial Planning Inc. grew its stake in Marathon Petroleum by 5.4% during the third quarter. Center for Financial Planning Inc. now owns 3,295 shares of the oil and gas company’s stock worth $204,000 after buying an additional 169 shares during the period. Princeton Global Asset Management LLC lifted its position in shares of Marathon Petroleum by 0.8% during the third quarter. Princeton Global Asset Management LLC now owns 21,432 shares of the oil and gas company’s stock worth $1,325,000 after purchasing an additional 179 shares in the last quarter. Prestige Wealth Management Group LLC lifted its position in shares of Marathon Petroleum by 4.3% during the second quarter. Prestige Wealth Management Group LLC now owns 4,630 shares of the oil and gas company’s stock worth $280,000 after purchasing an additional 190 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Marathon Petroleum by 0.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,856 shares of the oil and gas company’s stock worth $3,390,000 after purchasing an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 76.76% of the company’s stock.

A number of research analysts have recently commented on MPC shares. Credit Suisse Group boosted their target price on shares of Marathon Petroleum from $74.00 to $78.00 and gave the stock an “outperform” rating in a research report on Monday, November 8th. Cowen boosted their target price on shares of Marathon Petroleum from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 28th. The Goldman Sachs Group cut shares of Marathon Petroleum from a “conviction-buy” rating to a “buy” rating in a research report on Wednesday, November 3rd. Barclays upped their price target on shares of Marathon Petroleum from $68.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Wells Fargo & Company upped their price target on shares of Marathon Petroleum from $73.00 to $87.00 and gave the company an “overweight” rating in a report on Monday, November 15th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $73.43.

Marathon Petroleum stock opened at $74.74 on Friday. The company has a 50-day simple moving average of $64.85 and a 200-day simple moving average of $61.58. The firm has a market capitalization of $46.01 billion, a P/E ratio of 5.33, a P/E/G ratio of 0.62 and a beta of 2.09. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.48 and a current ratio of 2.02. Marathon Petroleum Co. has a one year low of $42.32 and a one year high of $74.77.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Monday, November 1st. The oil and gas company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. The business had revenue of $32.61 billion during the quarter, compared to analyst estimates of $17.12 billion. Marathon Petroleum had a net margin of 8.85% and a return on equity of 0.50%. During the same quarter in the prior year, the firm earned ($1.00) earnings per share. As a group, sell-side analysts forecast that Marathon Petroleum Co. will post 1.69 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 10th. Stockholders of record on Wednesday, November 17th were given a dividend of $0.58 per share. The ex-dividend date was Tuesday, November 16th. This represents a $2.32 annualized dividend and a dividend yield of 3.10%. Marathon Petroleum’s dividend payout ratio is currently 16.56%.

In related news, Director Charles E. Bunch bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 24th. The stock was purchased at an average price of $64.30 per share, for a total transaction of $64,300.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.30% of the company’s stock.

Marathon Petroleum Profile

Marathon Petroleum Corp. is an independent company, which engages in refining, marketing, and transportation of petroleum products in the United States. Itoperates through the following segments: Refining and Marketing; Retail; and Midstream. The Refining and 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.

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

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