Flagship Harbor Advisors LLC lowered its position in Marathon Petroleum Corporation (NYSE:MPC – Free Report) by 1.4% during the first quarter, HoldingsChannel reports. The firm owned 5,637 shares of the oil and gas company’s stock after selling 78 shares during the period. Flagship Harbor Advisors LLC’s holdings in Marathon Petroleum were worth $821,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Marathon Petroleum by 30.9% in the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock worth $696,000 after acquiring an additional 1,178 shares during the last quarter. Wealthspire Advisors LLC increased its stake in shares of Marathon Petroleum by 5.2% in the 4th quarter. Wealthspire Advisors LLC now owns 6,938 shares of the oil and gas company’s stock worth $968,000 after acquiring an additional 344 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Marathon Petroleum by 3.8% in the 4th quarter. IFP Advisors Inc now owns 5,021 shares of the oil and gas company’s stock worth $700,000 after acquiring an additional 186 shares during the last quarter. GHE LLC increased its stake in shares of Marathon Petroleum by 1.8% in the 4th quarter. GHE LLC now owns 38,572 shares of the oil and gas company’s stock worth $5,381,000 after acquiring an additional 665 shares during the last quarter. Finally, BankPlus Trust Department acquired a new stake in shares of Marathon Petroleum in the 4th quarter worth $395,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have issued reports on the company. Piper Sandler cut their target price on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Raymond James Financial cut their target price on Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating for the company in a research note on Wednesday, April 9th. TD Cowen raised their price objective on Marathon Petroleum from $152.00 to $163.00 and gave the stock a “buy” rating in a research report on Tuesday, June 10th. Morgan Stanley cut their price objective on Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Finally, Barclays raised their price objective on Marathon Petroleum from $141.00 to $159.00 and gave the stock an “overweight” rating in a research report on Monday, May 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $175.80.
Marathon Petroleum Stock Performance
NYSE MPC opened at $165.35 on Wednesday. The company has a market cap of $50.80 billion, a P/E ratio of 23.26, a P/E/G ratio of 3.29 and a beta of 0.89. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.19 and a quick ratio of 0.73. The stock has a 50-day moving average of $153.47 and a two-hundred day moving average of $147.05. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $183.31.
Marathon Petroleum (NYSE:MPC – Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.16. The business had revenue of $31.85 billion during the quarter, compared to analysts’ expectations of $28.91 billion. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.58 EPS. As a group, analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current year.
Marathon Petroleum Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.20%. The ex-dividend date was Wednesday, May 21st. Marathon Petroleum’s payout ratio is 51.20%.
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.
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