HM Payson & Co. Has $72.73 Million Stock Position in Marathon Petroleum Co. (NYSE:MPC)

HM Payson & Co. reduced its position in Marathon Petroleum Co. (NYSE:MPC) by 3.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 446,417 shares of the oil and gas company’s stock after selling 15,808 shares during the period. Marathon Petroleum makes up about 1.2% of HM Payson & Co.’s portfolio, making the stock its 24th largest position. HM Payson & Co.’s holdings in Marathon Petroleum were worth $72,726,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of MPC. Founders Financial Securities LLC raised its holdings in Marathon Petroleum by 22.8% in the 2nd quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock valued at $863,000 after acquiring an additional 924 shares during the period. Fidelis Capital Partners LLC increased its stake in Marathon Petroleum by 3.2% in the first quarter. Fidelis Capital Partners LLC now owns 3,050 shares of the oil and gas company’s stock valued at $615,000 after acquiring an additional 94 shares during the last quarter. LRI Investments LLC bought a new position in Marathon Petroleum in the first quarter valued at approximately $97,000. Magnolia Capital Advisors LLC increased its stake in Marathon Petroleum by 353.4% in the second quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company’s stock valued at $9,713,000 after acquiring an additional 43,639 shares during the last quarter. Finally, Granite Bay Wealth Management LLC acquired a new stake in Marathon Petroleum in the second quarter valued at approximately $4,075,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Stock Performance

Shares of MPC stock traded up $0.65 during trading on Thursday, reaching $145.41. 84,211 shares of the company’s stock traded hands, compared to its average volume of 2,660,669. The company has a market capitalization of $51.23 billion, a P/E ratio of 7.23, a PEG ratio of 3.03 and a beta of 1.37. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86. The firm’s 50-day moving average is $163.74 and its 200 day moving average is $172.18. Marathon Petroleum Co. has a 1 year low of $140.98 and a 1 year high of $221.11.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. The company had revenue of $38.36 billion for the quarter, compared to analysts’ expectations of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. Marathon Petroleum’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted $5.32 EPS. Equities research analysts expect that Marathon Petroleum Co. will post 8.71 EPS for the current year.

Marathon Petroleum Increases Dividend

The firm 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 dividend of $0.91 per share. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.50%. Marathon Petroleum’s dividend payout ratio is presently 16.48%.

Wall Street Analysts Forecast Growth

MPC has been the topic of several recent analyst reports. Bank of America initiated coverage on shares of Marathon Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 target price on the stock. Citigroup dropped their target price on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. JPMorgan Chase & Co. dropped their target price on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Jefferies Financial Group lifted their price target on shares of Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, TD Cowen boosted their target price on shares of Marathon Petroleum from $187.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $187.00.

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.