Jacobi Capital Management LLC Has $407,000 Position in Marathon Petroleum Co. (NYSE:MPC)

Jacobi Capital Management LLC cut its position in Marathon Petroleum Co. (NYSE:MPC) by 23.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,018 shares of the oil and gas company’s stock after selling 612 shares during the quarter. Jacobi Capital Management LLC’s holdings in Marathon Petroleum were worth $407,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in MPC. Dimensional Fund Advisors LP grew its holdings in shares of Marathon Petroleum by 2.7% during 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 purchasing an additional 137,341 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Marathon Petroleum by 1.9% during 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 purchasing an additional 76,920 shares during the last quarter. Norges Bank bought a new stake in shares of Marathon Petroleum during the 4th quarter valued at approximately $500,685,000. Pacer Advisors Inc. grew its holdings in shares of Marathon Petroleum by 8.3% during the 4th quarter. Pacer Advisors Inc. now owns 2,341,364 shares of the oil and gas company’s stock valued at $347,365,000 after purchasing an additional 178,502 shares during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of Marathon Petroleum by 7.6% during 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 purchasing an additional 117,790 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. StockNews.com lowered shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Tudor Pickering raised shares of Marathon Petroleum to a “strong-buy” rating in a report on Thursday, May 30th. Barclays reduced their target price on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating on the stock in a report on Monday, July 1st. JPMorgan Chase & Co. reduced their target price on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Finally, Jefferies Financial Group boosted their target price on shares of Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average target price of $193.64.

Marathon Petroleum Trading Down 0.6 %

Shares of NYSE:MPC traded down $0.98 during trading on Tuesday, reaching $164.92. The stock had a trading volume of 346,114 shares, compared to its average volume of 2,677,538. The firm’s fifty day moving average is $172.32 and its 200 day moving average is $177.83. The stock has a market cap of $58.11 billion, a price-to-earnings ratio of 8.27, a P/E/G ratio of 1.99 and a beta of 1.40. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 1.43. Marathon Petroleum Co. has a 52 week low of $126.21 and a 52 week high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $32.07 billion. During the same period in the prior year, the firm earned $6.09 earnings per share. Marathon Petroleum’s revenue was down 6.2% on a year-over-year basis. As a group, equities analysts forecast that Marathon Petroleum Co. will post 13.84 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date was Wednesday, May 15th. Marathon Petroleum’s payout ratio is 16.48%.

Marathon Petroleum announced that its Board of Directors has approved a share buyback plan on Tuesday, April 30th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the oil and gas company to buy up to 7.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

About Marathon Petroleum

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.