Pathway Financial Advisers LLC increased its position in Marathon Petroleum Co. (NYSE:MPC – Free Report) by 30.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 436 shares of the oil and gas company’s stock after purchasing an additional 103 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Marathon Petroleum were worth $71,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Founders Financial Securities LLC boosted its stake in shares of Marathon Petroleum by 22.8% during the 2nd quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock worth $863,000 after acquiring 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 valued at $615,000 after purchasing an additional 94 shares during the last quarter. LRI Investments LLC bought a new position in shares of Marathon Petroleum in the first quarter valued at about $97,000. Magnolia Capital Advisors LLC lifted its stake in shares of Marathon Petroleum by 353.4% during the 2nd quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company’s stock worth $9,713,000 after buying an additional 43,639 shares during the last quarter. Finally, Granite Bay Wealth Management LLC bought a new stake in shares of Marathon Petroleum during the 2nd quarter worth about $4,075,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.
Marathon Petroleum Price Performance
MPC stock opened at $144.77 on Thursday. The stock has a market cap of $51.01 billion, a price-to-earnings ratio of 7.23, a P/E/G ratio of 3.03 and a beta of 1.37. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90. The company has a 50 day simple moving average of $163.74 and a 200 day simple moving average of $172.18. Marathon Petroleum Co. has a 1 year low of $140.98 and a 1 year high of $221.11.
Marathon Petroleum Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.91 per share. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a dividend yield of 2.51%. Marathon Petroleum’s payout ratio is 16.48%.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the stock. Jefferies Financial Group raised their price objective on shares of Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. JPMorgan Chase & Co. reduced their price target on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Piper Sandler lowered their price objective on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, September 20th. Scotiabank decreased their price target on shares of Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, TD Cowen lifted their price objective on shares of Marathon Petroleum from $187.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $187.00.
Check Out Our Latest Stock Report on Marathon Petroleum
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.
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