LGT Fund Management Co Ltd. Has $8.72 Million Holdings in Marathon Petroleum Corporation $MPC

LGT Fund Management Co Ltd. grew its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 2,357.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,706 shares of the oil and gas company’s stock after purchasing an additional 34,253 shares during the period. LGT Fund Management Co Ltd.’s holdings in Marathon Petroleum were worth $8,719,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MPC. Cedar Mountain Advisors LLC acquired a new stake in shares of Marathon Petroleum in the 1st quarter worth about $40,000. Navalign LLC purchased a new position in Marathon Petroleum during the fourth quarter worth about $30,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Marathon Petroleum during the 4th quarter worth approximately $31,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of Marathon Petroleum in the third quarter valued at approximately $39,000. Finally, WFA of San Diego LLC bought a new stake in Marathon Petroleum during the second quarter worth $33,000. Institutional investors own 76.77% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MPC. Morgan Stanley raised their target price on Marathon Petroleum from $233.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Wells Fargo & Company restated an “overweight” rating and set a $344.00 price target on shares of Marathon Petroleum in a research report on Monday, June 15th. JPMorgan Chase & Co. raised their price objective on shares of Marathon Petroleum from $235.00 to $257.00 in a report on Wednesday, May 6th. TD Cowen lowered their price objective on shares of Marathon Petroleum from $320.00 to $315.00 and set a “buy” rating on the stock in a research report on Monday, June 29th. Finally, Zacks Research downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 17th. Ten investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $274.88.

Insider Buying and Selling at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the sale, the vice president owned 16,900 shares in the company, valued at $4,543,058. The trade was a 27.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Marathon Petroleum Price Performance

MPC stock traded up $0.30 during mid-day trading on Friday, reaching $283.60. 1,932,314 shares of the company traded hands, compared to its average volume of 2,239,416. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73. The company has a market capitalization of $82.79 billion, a P/E ratio of 18.51, a P/E/G ratio of 0.41 and a beta of 0.52. Marathon Petroleum Corporation has a 52-week low of $158.00 and a 52-week high of $287.15. The company has a fifty day moving average price of $256.82 and a 200-day moving average price of $222.50.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The firm had revenue of $34.20 billion for the quarter, compared to the consensus estimate of $33.42 billion. During the same period in the prior year, the firm posted ($0.24) earnings per share. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, analysts anticipate that Marathon Petroleum Corporation will post 32.96 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were given a dividend of $1.00 per share. The ex-dividend date was Wednesday, May 20th. This represents a $4.00 annualized dividend and a dividend yield of 1.4%. Marathon Petroleum’s dividend payout ratio is 26.11%.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.