Marathon Petroleum Co. (NYSE:MPC) is MGB Wealth Management LLC’s 9th Largest Position

MGB Wealth Management LLC grew its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 3.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,360 shares of the oil and gas company’s stock after buying an additional 785 shares during the period. Marathon Petroleum accounts for 1.9% of MGB Wealth Management LLC’s portfolio, making the stock its 9th biggest position. MGB Wealth Management LLC’s holdings in Marathon Petroleum were worth $4,697,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. NBC Securities Inc. lifted its stake in shares of Marathon Petroleum by 0.9% in the 1st quarter. NBC Securities Inc. now owns 6,333 shares of the oil and gas company’s stock valued at $1,276,000 after purchasing an additional 55 shares during the period. Guidance Capital Inc. boosted its holdings in shares of Marathon Petroleum by 1.1% during the 1st quarter. Guidance Capital Inc. now owns 5,483 shares of the oil and gas company’s stock valued at $1,135,000 after buying an additional 57 shares in the last quarter. Bruce G. Allen Investments LLC boosted its holdings in shares of Marathon Petroleum by 27.3% during the 1st quarter. Bruce G. Allen Investments LLC now owns 275 shares of the oil and gas company’s stock valued at $55,000 after buying an additional 59 shares in the last quarter. First Financial Corp IN grew its position in shares of Marathon Petroleum by 2.5% in the 1st quarter. First Financial Corp IN now owns 2,429 shares of the oil and gas company’s stock worth $489,000 after buying an additional 59 shares during the period. Finally, Marino Stram & Associates LLC lifted its position in Marathon Petroleum by 0.5% during the 4th quarter. Marino Stram & Associates LLC now owns 11,424 shares of the oil and gas company’s stock valued at $1,695,000 after acquiring an additional 60 shares during the period. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of MPC stock traded down $0.39 on Friday, reaching $163.90. The stock had a trading volume of 439,594 shares, compared to its average volume of 2,679,178. The stock has a market cap of $57.75 billion, a P/E ratio of 8.21, a price-to-earnings-growth ratio of 1.60 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 1 year low of $117.28 and a 1 year high of $221.11. The company has a 50 day simple moving average of $174.45 and a 200 day simple moving average of $176.75.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.25. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The business had revenue of $32.71 billion during the quarter, compared to the consensus estimate of $32.07 billion. During the same period in the previous year, the company posted $6.09 EPS. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. Equities research analysts expect that Marathon Petroleum Co. will post 16.9 EPS for the current year.

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

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were given a $0.825 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $3.30 annualized dividend and a yield of 2.01%. Marathon Petroleum’s payout ratio is presently 16.48%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MPC. Scotiabank raised their target price on shares of Marathon Petroleum from $175.00 to $207.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. StockNews.com downgraded Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Friday, June 14th. JPMorgan Chase & Co. reduced their price target on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Piper Sandler dropped their price target on shares of Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a research note on Friday, June 14th. Finally, Wells Fargo & Company reduced their price objective on shares of Marathon Petroleum from $227.00 to $223.00 and set an “overweight” rating for the company in a research note on Thursday, June 6th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $191.31.

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.