Meeder Asset Management Inc. Raises Position in Marathon Petroleum Corporation $MPC

Meeder Asset Management Inc. lifted its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 3,096.1% during the first quarter, HoldingsChannel reports. The fund owned 4,123 shares of the oil and gas company’s stock after acquiring an additional 3,994 shares during the quarter. Meeder Asset Management Inc.’s holdings in Marathon Petroleum were worth $1,007,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Navalign LLC purchased a new stake in Marathon Petroleum in the 4th quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC acquired a new position in Marathon Petroleum during the 4th quarter worth approximately $31,000. Berbice Capital Management LLC raised its stake in shares of Marathon Petroleum by 100.0% during the 4th quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock worth $33,000 after buying an additional 100 shares in the last quarter. WFA of San Diego LLC acquired a new stake in shares of Marathon Petroleum in the 2nd quarter valued at approximately $33,000. Finally, Ares Financial Consulting LLC acquired a new stake in shares of Marathon Petroleum in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $316.29 on Tuesday. The firm has a market capitalization of $92.34 billion, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 0.42 and a beta of 0.52. 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 business’s 50 day simple moving average is $263.62 and its 200-day simple moving average is $228.86. Marathon Petroleum Corporation has a 12 month low of $158.00 and a 12 month high of $319.36.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.91. The firm had revenue of $34.20 billion during the quarter, compared to the consensus estimate of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.Marathon Petroleum’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the business posted ($0.24) EPS. As a group, equities analysts forecast that Marathon Petroleum Corporation will post 35.82 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were issued a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $4.00 annualized dividend and a yield of 1.3%. Marathon Petroleum’s dividend payout ratio is 26.11%.

Insider Buying and Selling at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction 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 transaction, the vice president owned 16,900 shares in the company, valued at $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.17% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Weiss Ratings upgraded Marathon Petroleum from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, July 6th. Scotiabank increased their price objective on Marathon Petroleum from $174.00 to $210.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 22nd. Barclays raised their target price on Marathon Petroleum from $270.00 to $289.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Jefferies Financial Group set a $335.00 target price on shares of Marathon Petroleum and gave the stock a “buy” rating in a research report on Sunday, July 12th. Finally, Citigroup upped their price target on shares of Marathon Petroleum from $257.00 to $303.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Ten analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average target price of $283.56.

Marathon Petroleum 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.