Fidelity D & D Bancorp Inc. Purchases New Holdings in Marathon Petroleum Co. (NYSE:MPC)

Fidelity D & D Bancorp Inc. purchased a new stake in shares of Marathon Petroleum Co. (NYSE:MPC) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,089 shares of the oil and gas company’s stock, valued at approximately $219,000.

Several other large investors have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Marathon Petroleum in the fourth quarter valued at approximately $500,685,000. Assenagon Asset Management S.A. lifted its position in shares of Marathon Petroleum by 256.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 884,573 shares of the oil and gas company’s stock valued at $131,235,000 after buying an additional 636,281 shares during the last quarter. Schroder Investment Management Group lifted its holdings in Marathon Petroleum by 309.9% during the 4th quarter. Schroder Investment Management Group now owns 643,590 shares of the oil and gas company’s stock worth $95,483,000 after purchasing an additional 486,573 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Marathon Petroleum by 248.1% during the 4th quarter. International Assets Investment Management LLC now owns 608,888 shares of the oil and gas company’s stock worth $90,335,000 after purchasing an additional 433,977 shares during the last quarter. Finally, Canoe Financial LP acquired a new stake in Marathon Petroleum during the 4th quarter worth approximately $33,604,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Trading Up 0.3 %

MPC traded up $0.57 during midday trading on Friday, hitting $173.48. 3,656,319 shares of the company were exchanged, compared to its average volume of 2,644,769. The firm has a market capitalization of $61.12 billion, a P/E ratio of 8.66, a P/E/G ratio of 1.61 and a beta of 1.45. The company has a quick ratio of 0.99, a current ratio of 1.43 and a debt-to-equity ratio of 0.85. The firm’s 50 day moving average price is $178.71 and its 200-day moving average price is $175.53. Marathon Petroleum Co. has a 1-year low of $112.82 and a 1-year high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.25. The firm had revenue of $32.71 billion during the quarter, compared to analyst estimates of $32.07 billion. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the previous year, the company posted $6.09 EPS. As a group, equities analysts forecast that Marathon Petroleum Co. will post 17.85 EPS for the current fiscal year.

Marathon Petroleum declared that its board has approved a stock repurchase plan on Tuesday, April 30th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to buy up to 7.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were paid a $0.825 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $3.30 annualized dividend and a yield of 1.90%. Marathon Petroleum’s payout ratio is 16.48%.

Wall Street Analysts Forecast Growth

MPC has been the subject of several research reports. JPMorgan Chase & Co. lifted their price target on Marathon Petroleum from $172.00 to $186.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Tudor Pickering upgraded Marathon Petroleum to a “strong-buy” rating in a research note on Thursday, May 30th. The Goldman Sachs Group raised their price objective on Marathon Petroleum from $175.00 to $211.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. StockNews.com lowered Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Finally, Scotiabank raised their price objective on Marathon Petroleum from $175.00 to $207.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $192.08.

Marathon Petroleum 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.