Atlas Private Wealth Advisors Makes New $260,000 Investment in Marathon Petroleum Co. (NYSE:MPC)

Atlas Private Wealth Advisors purchased a new stake in Marathon Petroleum Co. (NYSE:MPC) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,500 shares of the oil and gas company’s stock, valued at approximately $260,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Marathon Petroleum during the 4th quarter worth approximately $25,000. FinTrust Capital Advisors LLC grew its position in Marathon Petroleum by 400.0% in the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. Crewe Advisors LLC acquired a new stake in Marathon Petroleum in the 1st quarter valued at $29,000. ICA Group Wealth Management LLC bought a new stake in Marathon Petroleum during the 4th quarter worth about $30,000. Finally, Vima LLC acquired a new position in shares of Marathon Petroleum during the 4th quarter worth about $30,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC traded up $1.68 during trading on Friday, reaching $175.83. 2,321,874 shares of the stock were exchanged, compared to its average volume of 2,645,106. The firm has a market cap of $61.95 billion, a PE ratio of 8.78, a PEG ratio of 2.09 and a beta of 1.40. 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 Co. has a 12 month low of $139.32 and a 12 month high of $221.11. The stock has a 50-day moving average price of $170.93 and a 200-day moving average price of $179.30.

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

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio is 16.48%.

Marathon Petroleum announced that its board has authorized a share repurchase plan on Tuesday, April 30th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the oil and gas company to purchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms recently issued reports on MPC. TD Cowen lifted their target price on Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday. Raymond James lowered their price target on Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating on the stock in a research report on Thursday, May 30th. Piper Sandler cut their price objective on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a report on Friday, June 14th. Wolfe Research initiated coverage on shares of Marathon Petroleum in a report on Thursday, July 18th. They set an “outperform” rating and a $200.00 target price on the stock. Finally, Tudor Pickering upgraded shares of Marathon Petroleum to a “strong-buy” rating in a research note on Thursday, May 30th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $198.38.

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.