Sheaff Brock Investment Advisors LLC Has $1.18 Million Position in Marathon Petroleum Co. (NYSE:MPC)

Sheaff Brock Investment Advisors LLC reduced its stake in Marathon Petroleum Co. (NYSE:MPC) by 8.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,873 shares of the oil and gas company’s stock after selling 521 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Marathon Petroleum were worth $1,183,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in MPC. Dimensional Fund Advisors LP raised its holdings in Marathon Petroleum by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,153,636 shares of the oil and gas company’s stock valued at $764,526,000 after buying an additional 137,341 shares during the last quarter. Raymond James & Associates raised its holdings in Marathon Petroleum by 1.9% in the 1st quarter. Raymond James & Associates now owns 4,178,977 shares of the oil and gas company’s stock valued at $842,064,000 after buying an additional 76,920 shares during the last quarter. Norges Bank bought a new position in Marathon Petroleum in the 4th quarter valued at approximately $500,685,000. Acadian Asset Management LLC raised its holdings in Marathon Petroleum by 7.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,663,835 shares of the oil and gas company’s stock valued at $335,241,000 after buying an additional 117,790 shares during the last quarter. Finally, Capital Wealth Planning LLC raised its holdings in Marathon Petroleum by 10,902.9% in the 1st quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock valued at $223,792,000 after buying an additional 1,100,536 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Trading Up 0.7 %

Shares of NYSE:MPC traded up $1.15 during mid-day trading on Friday, hitting $172.65. The company had a trading volume of 1,580,847 shares, compared to its average volume of 2,678,637. The firm has a fifty day moving average price of $171.94 and a 200 day moving average price of $177.80. Marathon Petroleum Co. has a one year low of $128.07 and a one year high of $221.11. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 0.99. The company has a market capitalization of $60.83 billion, a PE ratio of 8.63, a price-to-earnings-growth ratio of 2.02 and a beta of 1.40.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.25. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The business had revenue of $32.71 billion during the quarter, compared to the consensus estimate of $32.07 billion. During the same quarter last year, the firm posted $6.09 EPS. Marathon Petroleum’s revenue was down 6.2% compared to the same quarter last year. As a group, research analysts forecast that Marathon Petroleum Co. will post 13.84 EPS for the current year.

Marathon Petroleum announced that its board has initiated a stock repurchase plan on Tuesday, April 30th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the oil and gas company to reacquire up to 7.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MPC shares. JPMorgan Chase & Co. dropped their price objective on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Wolfe Research started coverage on shares of Marathon Petroleum in a report on Thursday, July 18th. They set an “outperform” rating and a $200.00 price target for the company. Tudor Pickering upgraded shares of Marathon Petroleum to a “strong-buy” rating in a report on Thursday, May 30th. Barclays lowered their price target on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a report on Monday, July 1st. Finally, Wells Fargo & Company lowered their price target on shares of Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $193.64.

Marathon Petroleum Company Profile

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.