Fortis Group Advisors LLC Has $47,000 Position in Marathon Petroleum Co. (NYSE:MPC)

Fortis Group Advisors LLC raised its position in Marathon Petroleum Co. (NYSE:MPC) by 100.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 314 shares of the oil and gas company’s stock after buying an additional 157 shares during the period. Fortis Group Advisors LLC’s holdings in Marathon Petroleum were worth $47,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MPC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Marathon Petroleum in the fourth quarter valued at about $25,000. Vima LLC bought a new position in shares of Marathon Petroleum in the fourth quarter worth about $30,000. Bruce G. Allen Investments LLC bought a new position in shares of Marathon Petroleum in the fourth quarter worth about $32,000. Bare Financial Services Inc bought a new position in shares of Marathon Petroleum in the fourth quarter worth about $32,000. Finally, Manchester Capital Management LLC raised its stake in shares of Marathon Petroleum by 97.2% in the fourth quarter. Manchester Capital Management LLC now owns 215 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 106 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on MPC. Tudor Pickering raised shares of Marathon Petroleum to a “strong-buy” rating in a research note on Thursday, May 30th. Barclays dropped their target price on shares of Marathon Petroleum from $221.00 to $195.00 and set an “overweight” rating for the company in a research note on Monday, May 6th. The Goldman Sachs Group boosted their target price on shares of Marathon Petroleum from $175.00 to $211.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. boosted their price target on shares of Marathon Petroleum from $172.00 to $186.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. Finally, Raymond James dropped their price target on shares of Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating for the company in a research note on Thursday, May 30th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $192.23.

Marathon Petroleum Trading Down 0.3 %

NYSE:MPC traded down $0.44 during trading hours on Friday, hitting $170.07. The stock had a trading volume of 2,933,965 shares, compared to its average volume of 2,418,018. Marathon Petroleum Co. has a one year low of $108.88 and a one year high of $221.11. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 1.43. The company has a market cap of $59.92 billion, a price-to-earnings ratio of 8.50, a P/E/G ratio of 1.47 and a beta of 1.45. The business’s 50 day moving average is $185.37 and its 200-day moving average is $174.06.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 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 firm had revenue of $32.71 billion during the quarter, compared to the consensus estimate of $32.07 billion. During the same quarter in the prior year, the firm earned $6.09 earnings per share. The business’s quarterly revenue was down 6.2% on a year-over-year basis. Sell-side analysts anticipate that Marathon Petroleum Co. will post 19.3 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Thursday, May 16th were issued a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

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

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.