Quintet Private Bank Europe S.A. Boosts Position in Marathon Petroleum Co. (NYSE:MPC)

Quintet Private Bank Europe S.A. raised its stake in Marathon Petroleum Co. (NYSE:MPC) by 15.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 800 shares of the oil and gas company’s stock after acquiring an additional 110 shares during the period. Quintet Private Bank Europe S.A.’s holdings in Marathon Petroleum were worth $130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC increased its position in Marathon Petroleum by 400.0% in the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 100 shares during the period. Crewe Advisors LLC acquired a new position in shares of Marathon Petroleum during the 1st quarter worth $29,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Marathon Petroleum in the 3rd quarter worth about $30,000. TruNorth Capital Management LLC purchased a new stake in shares of Marathon Petroleum in the 2nd quarter worth about $35,000. Finally, Industrial Alliance Investment Management Inc. purchased a new stake in shares of Marathon Petroleum in the 2nd quarter worth about $35,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 1.3 %

MPC opened at $144.94 on Tuesday. The firm has a market capitalization of $48.51 billion, a P/E ratio of 7.62, a P/E/G ratio of 2.74 and a beta of 1.38. The firm’s 50 day moving average is $162.00 and its 200-day moving average is $170.76. Marathon Petroleum Co. has a 52-week low of $140.98 and a 52-week high of $221.11. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. The business had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.32 earnings per share. Analysts expect that Marathon Petroleum Co. will post 8.71 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Wednesday, November 20th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s payout ratio is 17.34%.

Analysts Set New Price Targets

Several research firms have issued reports on MPC. TD Cowen raised their price target on shares of Marathon Petroleum from $187.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Piper Sandler decreased their price target on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Mizuho decreased their price target on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. BMO Capital Markets decreased their target price on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Finally, Scotiabank cut their price target on shares of Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $187.00.

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.