Islay Capital Management LLC Purchases 266 Shares of Marathon Petroleum Co. (NYSE:MPC)

Islay Capital Management LLC boosted its position in Marathon Petroleum Co. (NYSE:MPC) by 3.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,284 shares of the oil and gas company’s stock after buying an additional 266 shares during the quarter. Islay Capital Management LLC’s holdings in Marathon Petroleum were worth $1,187,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. WR Wealth Planners LLC grew its position in shares of Marathon Petroleum by 15.2% in the second 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 during the last quarter. Legacy Advisors LLC grew its holdings in Marathon Petroleum by 5.0% in the 2nd quarter. Legacy Advisors LLC now owns 1,238 shares of the oil and gas company’s stock valued at $215,000 after buying an additional 59 shares during the last quarter. Latitude Advisors LLC lifted 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 buying an additional 60 shares during the last quarter. SouthState Corp boosted its position in shares of Marathon Petroleum by 1.5% in the second 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 during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Marathon Petroleum by 0.9% in the second quarter. EverSource Wealth Advisors LLC now owns 7,165 shares of the oil and gas company’s stock worth $1,268,000 after acquiring an additional 61 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MPC shares. Scotiabank cut their target price on shares of Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Wells Fargo & Company reduced their target price on shares of Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Piper Sandler lowered their price target on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Citigroup cut their price target on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Finally, Mizuho decreased their price objective on Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $185.07.

Marathon Petroleum Stock Down 0.4 %

MPC opened at $157.52 on Monday. Marathon Petroleum Co. has a twelve month low of $140.98 and a twelve month high of $221.11. The firm has a market cap of $50.63 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 2.74 and a beta of 1.38. The firm’s 50-day simple moving average is $159.06 and its 200-day simple moving average is $168.26. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.90. The company had revenue of $35.37 billion during the quarter, compared to analyst estimates of $34.34 billion. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The company’s revenue was down 14.9% on a year-over-year basis. During the same quarter last year, the business posted $8.14 earnings per share. Equities research analysts anticipate that Marathon Petroleum Co. will post 9.59 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $3.64 dividend on an annualized basis and a yield of 2.31%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s payout ratio is currently 26.15%.

Marathon Petroleum declared that its board has initiated a share buyback plan on Tuesday, November 5th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is 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.