Foster Victor Wealth Advisors LLC Purchases 102 Shares of Marathon Petroleum Co. (NYSE:MPC)

Foster Victor Wealth Advisors LLC boosted its position in Marathon Petroleum Co. (NYSE:MPC) by 6.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,602 shares of the oil and gas company’s stock after purchasing an additional 102 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in Marathon Petroleum were worth $269,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in MPC. FinTrust Capital Advisors LLC grew its position in Marathon Petroleum by 400.0% during the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 100 shares during the period. Crewe Advisors LLC bought a new stake in shares of Marathon Petroleum during the 1st quarter valued at $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Marathon Petroleum in the 4th quarter worth $25,000. ICA Group Wealth Management LLC bought a new position in Marathon Petroleum in the 4th quarter worth $30,000. Finally, Wellington Shields & Co. LLC purchased a new position in Marathon Petroleum during the first quarter valued at $40,000. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Stock Down 0.4 %

Shares of MPC stock opened at $180.03 on Friday. The company’s fifty day simple moving average is $171.27 and its two-hundred day simple moving average is $179.92. Marathon Petroleum Co. has a 52 week low of $139.32 and a 52 week high of $221.11. The stock has a market cap of $63.43 billion, a P/E ratio of 8.99, a PEG ratio of 2.09 and a beta of 1.40. The company has a quick ratio of 0.99, a current ratio of 1.43 and a debt-to-equity ratio of 0.85.

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 analysts’ consensus estimates of $3.09 by $1.03. The company had revenue of $38.36 billion for the quarter, compared to the consensus estimate of $36.66 billion. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the business earned $5.32 earnings per share. Analysts predict that Marathon Petroleum Co. will post 13.84 EPS for the current fiscal year.

Marathon Petroleum announced that its board has initiated a share buyback plan on Tuesday, April 30th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to reacquire up to 7.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Marathon Petroleum Dividend Announcement

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 dividend of $0.825 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.83%. Marathon Petroleum’s dividend payout ratio is currently 16.48%.

Wall Street Analyst Weigh In

A number of analysts have commented on MPC shares. Wells Fargo & Company reduced their price target on Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Jefferies Financial Group increased their target price on shares of Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Piper Sandler lowered their price target on shares of Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a report on Friday, June 14th. Wolfe Research assumed coverage on shares of Marathon Petroleum in a research note on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price objective for the company. Finally, TD Cowen lifted their target price on shares of Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Marathon Petroleum has an average rating of “Moderate Buy” and a consensus 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.