Spirepoint Private Client LLC Makes New $226,000 Investment in Marathon Petroleum Co. (NYSE:MPC)

Spirepoint Private Client LLC purchased a new stake in Marathon Petroleum Co. (NYSE:MPC) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,120 shares of the oil and gas company’s stock, valued at approximately $226,000.

Other hedge funds also recently made changes to their positions in the company. FinTrust Capital Advisors LLC raised its holdings in Marathon Petroleum by 400.0% during the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 100 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Marathon Petroleum during the fourth quarter worth $25,000. ICA Group Wealth Management LLC acquired a new position in Marathon Petroleum in the fourth quarter valued at $30,000. Wellington Shields & Co. LLC acquired a new stake in Marathon Petroleum during the 1st quarter worth about $40,000. Finally, Vima LLC bought a new position in shares of Marathon Petroleum in the 4th quarter worth about $30,000. 76.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Mizuho decreased their target price on 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 $223.00 to $196.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Jefferies Financial Group boosted their target price on shares of Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Piper Sandler reduced their price target on shares of Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a report on Friday, June 14th. Finally, Tudor Pickering upgraded shares of Marathon Petroleum to a “strong-buy” rating in a report on Thursday, May 30th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average target price of $193.64.

Marathon Petroleum Stock Up 0.4 %

Shares of NYSE:MPC traded up $0.64 during mid-day trading on Friday, hitting $165.16. 3,037,126 shares of the company traded hands, compared to its average volume of 2,462,000. The stock has a 50-day moving average price of $172.56 and a two-hundred day moving average price of $177.61. Marathon Petroleum Co. has a 12-month low of $122.08 and a 12-month high of $221.11. The stock has a market cap of $58.19 billion, a P/E ratio of 8.25, a P/E/G ratio of 1.99 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 (NYSE:MPC) last posted its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.25. The firm had revenue of $32.71 billion for the quarter, compared to the consensus estimate of $32.07 billion. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.09 EPS. On average, equities research analysts forecast that Marathon Petroleum Co. will post 13.84 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were given a dividend of $0.825 per share. The ex-dividend date was Wednesday, May 15th. This represents a $3.30 annualized dividend and a dividend yield of 2.00%. Marathon Petroleum’s dividend payout ratio is currently 16.48%.

Marathon Petroleum announced that its Board of Directors has approved a share buyback plan on Tuesday, April 30th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the oil and gas company to repurchase up to 7.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Marathon Petroleum 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.