Lifestyle Asset Management Inc. Has $972,000 Position in Marathon Petroleum Co. (NYSE:MPC)

Lifestyle Asset Management Inc. grew its position in Marathon Petroleum Co. (NYSE:MPC) by 4.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,969 shares of the oil and gas company’s stock after purchasing an additional 268 shares during the period. Lifestyle Asset Management Inc.’s holdings in Marathon Petroleum were worth $972,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. WR Wealth Planners LLC lifted its holdings in shares of Marathon Petroleum by 15.2% during the 2nd quarter. WR Wealth Planners LLC now owns 431 shares of the oil and gas company’s stock valued at $75,000 after purchasing an additional 57 shares in the last quarter. D Orazio & Associates Inc. boosted its holdings in shares of Marathon Petroleum by 3.2% in the first quarter. D Orazio & Associates Inc. now owns 1,894 shares of the oil and gas company’s stock valued at $382,000 after buying an additional 59 shares during the period. Legacy Advisors LLC increased its position in shares of Marathon Petroleum by 5.0% during the second quarter. Legacy Advisors LLC now owns 1,238 shares of the oil and gas company’s stock worth $215,000 after acquiring an additional 59 shares in the last quarter. Latitude Advisors LLC raised its holdings in shares of Marathon Petroleum by 3.6% during the second quarter. Latitude Advisors LLC now owns 1,714 shares of the oil and gas company’s stock worth $297,000 after acquiring an additional 60 shares during the period. Finally, SouthState Corp lifted its position in Marathon Petroleum by 1.5% in the 2nd quarter. SouthState Corp now owns 4,122 shares of the oil and gas company’s stock valued at $715,000 after acquiring an additional 61 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on MPC. Wolfe Research assumed coverage on Marathon Petroleum in a research note on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price target on the stock. Jefferies Financial Group boosted their target price on Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Citigroup decreased their price target on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. JPMorgan Chase & Co. cut their price objective on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Finally, 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 research note on Friday, October 4th. Two research 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’s stock. According to MarketBeat, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and an average price target of $185.67.

Marathon Petroleum Trading Down 0.8 %

Shares of MPC stock opened at $154.00 on Friday. Marathon Petroleum Co. has a 12-month low of $140.98 and a 12-month high of $221.11. The company has a market capitalization of $51.54 billion, a PE ratio of 8.09, a price-to-earnings-growth ratio of 2.77 and a beta of 1.38. The firm has a 50 day moving average price of $161.30 and a two-hundred day moving average price of $170.32. 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 (NYSE:MPC) last issued its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.90. The firm had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The company’s revenue for the quarter was down 14.9% on a year-over-year basis. During the same period in the prior year, the firm posted $8.14 EPS. As a group, analysts predict that Marathon Petroleum Co. will post 8.71 earnings per share for the current year.

Marathon Petroleum Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Wednesday, November 20th. 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 2.36%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 17.34%.

Marathon Petroleum declared that its Board of Directors has authorized a stock buyback plan on Tuesday, November 5th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 10% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are 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.