Cresset Asset Management LLC Grows Holdings in Marathon Petroleum Corporation $MPC

Cresset Asset Management LLC raised its stake in shares of Marathon Petroleum Corporation (NYSE:MPCFree Report) by 61.5% during the third quarter, HoldingsChannel reports. The fund owned 11,011 shares of the oil and gas company’s stock after acquiring an additional 4,194 shares during the quarter. Cresset Asset Management LLC’s holdings in Marathon Petroleum were worth $2,122,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. CI Investments Inc. raised its stake in Marathon Petroleum by 1.8% during the third quarter. CI Investments Inc. now owns 3,336 shares of the oil and gas company’s stock worth $643,000 after acquiring an additional 60 shares during the period. Strive Asset Management LLC acquired a new position in shares of Marathon Petroleum during the third quarter valued at $6,746,000. Focus Partners Advisor Solutions LLC increased its stake in Marathon Petroleum by 18.5% during the 3rd quarter. Focus Partners Advisor Solutions LLC now owns 11,367 shares of the oil and gas company’s stock valued at $2,223,000 after buying an additional 1,776 shares during the period. WASHINGTON TRUST Co raised its holdings in Marathon Petroleum by 3.0% during the third quarter. WASHINGTON TRUST Co now owns 2,200 shares of the oil and gas company’s stock worth $424,000 after purchasing an additional 65 shares in the last quarter. Finally, Journey Strategic Wealth LLC raised its stake in shares of Marathon Petroleum by 2.2% in the 3rd quarter. Journey Strategic Wealth LLC now owns 9,102 shares of the oil and gas company’s stock worth $1,754,000 after buying an additional 192 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Stock Up 1.8%

MPC opened at $221.21 on Friday. The firm has a market cap of $65.20 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 1.37 and a beta of 0.69. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.26. The business has a 50 day moving average price of $187.19 and a 200 day moving average price of $186.38. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $228.55.

Marathon Petroleum (NYSE:MPCGet Free Report) last released its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 EPS for the quarter, beating analysts’ consensus estimates of $3.73 by $0.34. The company had revenue of $32.57 billion for the quarter, compared to analyst estimates of $30.89 billion. Marathon Petroleum had a net margin of 2.99% and a return on equity of 13.90%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 earnings per share. Research analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 18th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $4.00 dividend on an annualized basis and a yield of 1.8%. Marathon Petroleum’s payout ratio is currently 29.96%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MPC shares. UBS Group restated a “buy” rating and set a $221.00 target price on shares of Marathon Petroleum in a report on Friday, February 6th. Scotiabank reaffirmed an “outperform” rating and issued a $174.00 price objective on shares of Marathon Petroleum in a research note on Friday, January 16th. Mizuho lifted their price objective on shares of Marathon Petroleum from $198.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 13th. Weiss Ratings upgraded Marathon Petroleum from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday, February 27th. Finally, TD Cowen raised their target price on Marathon Petroleum from $183.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Eleven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $202.50.

View Our Latest Report on Marathon Petroleum

Key Stories Impacting Marathon Petroleum

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Marathon Petroleum Company Profile

(Free Report)

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.

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

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