Marathon Petroleum Co. (NYSE:MPC) Stake Raised by Ballentine Partners LLC

Ballentine Partners LLC lifted its stake in Marathon Petroleum Co. (NYSE:MPC) by 47.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,668 shares of the oil and gas company’s stock after purchasing an additional 6,017 shares during the quarter. Ballentine Partners LLC’s holdings in Marathon Petroleum were worth $3,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in MPC. Founders Financial Securities LLC raised its stake in shares of Marathon Petroleum by 22.8% during the 2nd quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock worth $863,000 after purchasing an additional 924 shares in the last quarter. Fidelis Capital Partners LLC raised its holdings in shares of Marathon Petroleum by 3.2% during the 1st quarter. Fidelis Capital Partners LLC now owns 3,050 shares of the oil and gas company’s stock valued at $615,000 after purchasing an additional 94 shares in the last quarter. LRI Investments LLC bought a new stake in Marathon Petroleum in the first quarter worth $97,000. Magnolia Capital Advisors LLC lifted its position in shares of Marathon Petroleum by 353.4% in the second quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company’s stock worth $9,713,000 after buying an additional 43,639 shares during the last quarter. Finally, Granite Bay Wealth Management LLC acquired a new stake in Marathon Petroleum in the 2nd quarter worth approximately $4,075,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Price Performance

NYSE:MPC opened at $152.88 on Friday. Marathon Petroleum Co. has a 52 week low of $140.98 and a 52 week high of $221.11. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31. The company has a market capitalization of $51.17 billion, a price-to-earnings ratio of 8.03, a PEG ratio of 3.03 and a beta of 1.37. The company has a 50-day moving average of $166.48 and a 200-day moving average of $174.39.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, beating the consensus estimate of $3.09 by $1.03. The company had revenue of $38.36 billion for the quarter, compared to analyst estimates of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The company’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted $5.32 EPS. As a group, equities research analysts anticipate that Marathon Petroleum Co. will post 8.71 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were paid a $0.825 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $3.30 annualized dividend and a dividend yield of 2.16%. Marathon Petroleum’s dividend payout ratio is presently 17.34%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Wolfe Research started coverage on Marathon Petroleum in a research report on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price target on the stock. Tudor Pickering cut Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. Barclays decreased their target price on Marathon Petroleum from $180.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Finally, Piper Sandler cut their price target on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $187.00.

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.