Transcend Capital Advisors LLC Raises Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Transcend Capital Advisors LLC boosted its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 21.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,770 shares of the oil and gas company’s stock after acquiring an additional 485 shares during the period. Transcend Capital Advisors LLC’s holdings in Marathon Petroleum were worth $481,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Marathon Petroleum in the 4th quarter worth approximately $25,000. FinTrust Capital Advisors LLC grew its stake 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 worth $25,000 after buying an additional 100 shares in the last quarter. Crewe Advisors LLC purchased a new position in Marathon Petroleum in the 1st quarter worth approximately $29,000. ICA Group Wealth Management LLC purchased a new position in Marathon Petroleum in the 4th quarter worth approximately $30,000. Finally, Vima LLC bought a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Down 4.9 %

Marathon Petroleum stock traded down $8.54 during trading hours on Friday, hitting $164.64. 2,599,758 shares of the stock traded hands, compared to its average volume of 2,325,567. Marathon Petroleum Co. has a one year low of $133.65 and a one year high of $221.11. The company has a market cap of $58.01 billion, a PE ratio of 8.22, a PEG ratio of 2.09 and a beta of 1.40. The firm’s 50-day moving average price is $171.45 and its two-hundred day moving average price is $178.69. The company has a current ratio of 1.43, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be given a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio is currently 16.48%.

Marathon Petroleum announced that its board has authorized a stock repurchase program on Tuesday, April 30th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to reacquire up to 7.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MPC shares. Wolfe Research started coverage on shares of Marathon Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price objective for the company. Raymond James lowered their price objective on shares of Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating for the company in a report on Thursday, May 30th. Tudor Pickering upgraded shares of Marathon Petroleum to a “strong-buy” rating in a report on Thursday, May 30th. Mizuho lowered their price objective on shares of Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating for the company in a report on Thursday, June 20th. Finally, Scotiabank lowered their price objective on shares of Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $196.85.

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.