Shell Asset Management Co. Has $1.02 Million Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Shell Asset Management Co. grew its position in Marathon Petroleum Co. (NYSE:MPC) by 65.9% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 5,067 shares of the oil and gas company’s stock after acquiring an additional 2,012 shares during the period. Shell Asset Management Co.’s holdings in Marathon Petroleum were worth $1,021,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Scarborough Advisors LLC raised its stake in shares of Marathon Petroleum by 10.7% in the 4th quarter. Scarborough Advisors LLC now owns 2,174 shares of the oil and gas company’s stock valued at $323,000 after purchasing an additional 210 shares during the period. Global Assets Advisory LLC bought a new stake in Marathon Petroleum in the 1st quarter valued at approximately $36,823,000. First Horizon Advisors Inc. boosted its position in Marathon Petroleum by 8.9% during the 4th quarter. First Horizon Advisors Inc. now owns 1,174 shares of the oil and gas company’s stock worth $174,000 after acquiring an additional 96 shares during the last quarter. Canoe Financial LP acquired a new stake in shares of Marathon Petroleum in the fourth quarter valued at approximately $33,604,000. Finally, Fidelis Capital Partners LLC boosted its holdings in Marathon Petroleum by 3.2% during the first quarter. Fidelis Capital Partners LLC now owns 3,050 shares of the oil and gas company’s stock worth $615,000 after purchasing an additional 94 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

MPC has been the topic of several analyst reports. Barclays cut their price target on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating on the stock in a research report on Monday, July 1st. JPMorgan Chase & Co. reduced their price target on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Scotiabank lowered their price target on Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. StockNews.com cut Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Finally, Piper Sandler decreased their target price on shares of Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a research note on Friday, June 14th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $193.64.

Marathon Petroleum Stock Performance

NYSE MPC opened at $172.65 on Friday. Marathon Petroleum Co. has a 52-week low of $128.07 and a 52-week high of $221.11. The stock has a market cap of $60.83 billion, a PE ratio of 8.62, a P/E/G ratio of 2.07 and a beta of 1.40. The firm has a 50-day moving average of $171.80 and a 200-day moving average of $177.91. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 1.43.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.25. The company had revenue of $32.71 billion during the quarter, compared to analysts’ expectations of $32.07 billion. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The business’s revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.09 earnings per share. On average, sell-side analysts anticipate that Marathon Petroleum Co. will post 13.84 EPS for the current year.

Marathon Petroleum announced that its board has authorized a share buyback program on Tuesday, April 30th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas company to reacquire up to 7.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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.