Marathon Petroleum Co. (NYSE:MPC) Shares Acquired by Meadow Creek Wealth Advisors LLC

Meadow Creek Wealth Advisors LLC raised its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 2.7% during the third quarter, HoldingsChannel reports. The firm owned 4,599 shares of the oil and gas company’s stock after purchasing an additional 119 shares during the quarter. Meadow Creek Wealth Advisors LLC’s holdings in Marathon Petroleum were worth $749,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Raymond James & Associates increased its stake in shares of Marathon Petroleum by 2.6% in the second quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company’s stock worth $743,690,000 after acquiring an additional 107,915 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Marathon Petroleum by 1.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company’s stock worth $620,815,000 after acquiring an additional 31,100 shares during the period. Boston Partners increased its stake in shares of Marathon Petroleum by 0.3% in the first quarter. Boston Partners now owns 2,773,050 shares of the oil and gas company’s stock worth $558,390,000 after acquiring an additional 8,476 shares during the period. Pacer Advisors Inc. increased its stake in shares of Marathon Petroleum by 8.5% in the second quarter. Pacer Advisors Inc. now owns 2,669,815 shares of the oil and gas company’s stock worth $463,160,000 after acquiring an additional 209,270 shares during the period. Finally, Acadian Asset Management LLC increased its stake in shares of Marathon Petroleum by 7.6% in the first quarter. Acadian Asset Management LLC now owns 1,663,835 shares of the oil and gas company’s stock worth $335,241,000 after acquiring an additional 117,790 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

MPC opened at $157.01 on Wednesday. The firm’s fifty day simple moving average is $166.98 and its two-hundred day simple moving average is $174.53. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. The company has a market cap of $55.32 billion, a price-to-earnings ratio of 7.90, a PEG ratio of 2.65 and a beta of 1.37. Marathon Petroleum Co. has a 52-week low of $140.98 and a 52-week high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, topping the consensus estimate of $3.09 by $1.03. The firm had revenue of $38.36 billion for the quarter, compared to the consensus estimate of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the firm posted $5.32 earnings per share. Equities analysts anticipate that Marathon Petroleum Co. will post 10.22 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were paid a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio is currently 16.48%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MPC shares. Jefferies Financial Group increased their price objective on shares of Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Wolfe Research assumed coverage on shares of Marathon Petroleum in a report on Thursday, July 18th. They set an “outperform” rating and a $200.00 price target on the stock. BMO Capital Markets lowered their price target on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Morgan Stanley lowered their price target 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. Finally, Piper Sandler lowered their price target on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Marathon Petroleum currently has a consensus 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.