Hengehold Capital Management LLC Acquires Shares of 1,824 Marathon Petroleum Co. (NYSE:MPC)

Hengehold Capital Management LLC acquired a new stake in Marathon Petroleum Co. (NYSE:MPC) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,824 shares of the oil and gas company’s stock, valued at approximately $368,000.

Other hedge funds have also recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $25,000. ICA Group Wealth Management LLC purchased a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $30,000. Vima LLC purchased a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $30,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $32,000. Finally, Bare Financial Services Inc purchased a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Bank of America boosted their price objective on shares of Marathon Petroleum from $185.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Mizuho reduced their price objective on shares of Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating for the company in a research note on Thursday, June 20th. Wells Fargo & Company reduced their price objective on shares of Marathon Petroleum from $227.00 to $223.00 and set an “overweight” rating for the company in a research note on Thursday, June 6th. Barclays decreased their price target on shares of Marathon Petroleum from $221.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, May 6th. Finally, Tudor Pickering raised shares of Marathon Petroleum to a “strong-buy” rating in a report on Thursday, May 30th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $192.08.

Marathon Petroleum Stock Performance

MPC stock traded down $0.58 during midday trading on Friday, hitting $172.33. 824,667 shares of the stock traded hands, compared to its average volume of 2,706,265. The firm has a market cap of $60.72 billion, a P/E ratio of 8.64, a PEG ratio of 1.63 and a beta of 1.45. 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’s fifty day simple moving average is $179.61 and its 200-day simple moving average is $175.35. Marathon Petroleum Co. has a 1-year low of $112.82 and a 1-year high of $221.11.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.53 by $0.25. The company had revenue of $32.71 billion for the quarter, compared to analyst estimates of $32.07 billion. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The firm’s revenue was down 6.2% on a year-over-year basis. During the same quarter last year, the business earned $6.09 earnings per share. On average, analysts expect that Marathon Petroleum Co. will post 17.85 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Thursday, May 16th were given a $0.825 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $3.30 annualized dividend and a dividend yield of 1.91%. Marathon Petroleum’s dividend payout ratio (DPR) is 16.48%.

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

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.