Marathon Petroleum Co. (NYSE:MPC) Stock Holdings Raised by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC raised its stake in Marathon Petroleum Co. (NYSE:MPC) by 7.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 9,104 shares of the oil and gas company’s stock after purchasing an additional 594 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Marathon Petroleum were worth $1,579,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Marathon Petroleum in the 4th quarter valued at about $500,685,000. Capital Wealth Planning LLC boosted its stake in Marathon Petroleum by 10,902.9% during the 1st quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock valued at $223,792,000 after purchasing an additional 1,100,536 shares during the period. Schroder Investment Management Group boosted its stake in Marathon Petroleum by 309.9% during the 4th quarter. Schroder Investment Management Group now owns 643,590 shares of the oil and gas company’s stock valued at $95,483,000 after purchasing an additional 486,573 shares during the period. International Assets Investment Management LLC boosted its stake in Marathon Petroleum by 248.1% during the 4th quarter. International Assets Investment Management LLC now owns 608,888 shares of the oil and gas company’s stock valued at $90,335,000 after purchasing an additional 433,977 shares during the period. Finally, Canoe Financial LP acquired a new position in Marathon Petroleum during the 4th quarter valued at about $33,604,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Down 0.9 %

MPC traded down $1.54 on Wednesday, reaching $169.35. 1,702,662 shares of the company traded hands, compared to its average volume of 2,649,067. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 0.99. The company has a market cap of $59.67 billion, a price-to-earnings ratio of 8.53, a PEG ratio of 2.09 and a beta of 1.40. Marathon Petroleum Co. has a 52-week low of $137.57 and a 52-week high of $221.11. The stock’s 50 day moving average price is $170.97 and its 200-day moving average price is $179.08.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, topping the consensus estimate of $3.09 by $1.03. The company had revenue of $38.36 billion during the quarter, compared to the consensus estimate of $36.66 billion. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.32 earnings per share. On average, sell-side analysts expect that Marathon Petroleum Co. will post 13.84 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be given a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio is 16.48%.

Marathon Petroleum announced that its board has initiated a stock buyback program on Tuesday, April 30th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas company to repurchase up to 7.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have recently weighed in on MPC shares. Barclays reduced their price target on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday, July 1st. Mizuho reduced their price target on shares of Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating for the company in a research note on Thursday, June 20th. Piper Sandler reduced their price target on shares of Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a research note on Friday, June 14th. Raymond James reduced 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. Finally, JPMorgan Chase & Co. dropped their target price on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $198.38.

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.