White Pine Investment CO Has $8.75 Million Position in Marathon Petroleum Co. (NYSE:MPC)

White Pine Investment CO decreased its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 1.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,728 shares of the oil and gas company’s stock after selling 541 shares during the quarter. Marathon Petroleum comprises approximately 2.4% of White Pine Investment CO’s investment portfolio, making the stock its 13th biggest holding. White Pine Investment CO’s holdings in Marathon Petroleum were worth $8,753,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Founders Financial Securities LLC grew its holdings in shares of 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 buying an additional 924 shares during the period. Fidelis Capital Partners LLC increased its holdings in shares of 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 worth $615,000 after acquiring an additional 94 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Marathon Petroleum during the first quarter worth about $97,000. Magnolia Capital Advisors LLC grew its position in shares of Marathon Petroleum by 353.4% in the 2nd quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company’s stock valued at $9,713,000 after purchasing an additional 43,639 shares during the period. Finally, Granite Bay Wealth Management LLC bought a new stake in Marathon Petroleum during the 2nd quarter worth approximately $4,075,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on MPC. Morgan Stanley dropped their price objective on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. BMO Capital Markets cut their price target on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Mizuho decreased their price objective on Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Piper Sandler cut their target price on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Finally, Tudor Pickering cut shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $187.00.

Marathon Petroleum Price Performance

NYSE:MPC opened at $143.13 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. Marathon Petroleum Co. has a 12-month low of $140.98 and a 12-month high of $221.11. The stock’s 50 day moving average price is $162.57 and its two-hundred day moving average price is $171.33. The firm has a market capitalization of $47.90 billion, a price-to-earnings ratio of 7.52, a P/E/G ratio of 2.78 and a beta of 1.38.

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. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The business had revenue of $38.36 billion for the quarter, compared to analyst estimates of $36.66 billion. During the same quarter in the prior year, the business earned $5.32 EPS. Marathon Petroleum’s quarterly revenue was up 4.2% on a year-over-year basis. On average, analysts anticipate that Marathon Petroleum Co. will post 8.71 earnings per share for the current year.

Marathon Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given a $0.91 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.54%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s dividend payout ratio (DPR) is presently 17.34%.

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.