Mission Wealth Management LP Boosts Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Mission Wealth Management LP boosted its position in Marathon Petroleum Co. (NYSE:MPC) by 4.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 9,126 shares of the oil and gas company’s stock after acquiring an additional 370 shares during the period. Mission Wealth Management LP’s holdings in Marathon Petroleum were worth $1,839,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. DORCHESTER WEALTH MANAGEMENT Co bought a new stake in Marathon Petroleum in the 1st quarter valued at about $202,000. Smith Group Asset Management LLC raised its stake in Marathon Petroleum by 11.4% in the 1st quarter. Smith Group Asset Management LLC now owns 67,834 shares of the oil and gas company’s stock valued at $13,669,000 after acquiring an additional 6,932 shares during the period. Diversify Advisory Services LLC bought a new stake in shares of Marathon Petroleum during the first quarter valued at about $999,000. J.W. Cole Advisors Inc. increased its position in shares of Marathon Petroleum by 6.3% during the first quarter. J.W. Cole Advisors Inc. now owns 3,160 shares of the oil and gas company’s stock valued at $637,000 after buying an additional 188 shares during the period. Finally, Norden Group LLC increased its position in shares of Marathon Petroleum by 20.8% during the first quarter. Norden Group LLC now owns 4,694 shares of the oil and gas company’s stock valued at $946,000 after buying an additional 808 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Price Performance

NYSE MPC traded down $4.25 on Friday, reaching $170.74. 1,587,492 shares of the company’s stock traded hands, compared to its average volume of 2,449,349. Marathon Petroleum Co. has a 12 month low of $112.82 and a 12 month high of $221.11. 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 stock has a 50-day simple moving average of $176.20 and a 200 day simple moving average of $176.43. The stock has a market cap of $60.16 billion, a PE ratio of 8.53, a P/E/G ratio of 1.63 and a beta of 1.40.

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, topping 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 company had revenue of $32.71 billion for the quarter, compared to the consensus estimate of $32.07 billion. During the same period in the previous year, the firm earned $6.09 earnings per share. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. As a group, research analysts predict that Marathon Petroleum Co. will post 17.85 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were paid a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Wednesday, May 15th. Marathon Petroleum’s payout ratio is 16.48%.

Marathon Petroleum declared that its Board of Directors has initiated a share 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 purchase up to 7.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Piper Sandler decreased their price target on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. JPMorgan Chase & Co. decreased their price target on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating on the stock in a research report on Tuesday. StockNews.com cut Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. The Goldman Sachs Group upped their price target on Marathon Petroleum from $175.00 to $211.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Barclays lowered their target price on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating on the stock in a research note on Monday, July 1st. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus target price of $191.31.

About Marathon Petroleum

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.