Aprio Wealth Management LLC Acquires New Shares in Marathon Petroleum Co. (NYSE:MPC)

Aprio Wealth Management LLC acquired a new stake in Marathon Petroleum Co. (NYSE:MPC) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 1,297 shares of the oil and gas company’s stock, valued at approximately $261,000.

Several other institutional investors and hedge funds have also modified their holdings of MPC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Marathon Petroleum in the 4th quarter valued at $25,000. ICA Group Wealth Management LLC acquired a new position in Marathon Petroleum during the 4th quarter worth $30,000. Vima LLC acquired a new position in Marathon Petroleum during the 4th quarter worth $30,000. Bruce G. Allen Investments LLC acquired a new position in Marathon Petroleum during the 4th quarter worth $32,000. Finally, Bare Financial Services Inc acquired a new position in Marathon Petroleum during the 4th quarter worth $32,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

MPC has been the subject of a number of research analyst reports. Tudor Pickering raised shares of Marathon Petroleum to a “strong-buy” rating in a research report on Thursday, May 30th. StockNews.com cut Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Piper Sandler lowered their price objective on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. JPMorgan Chase & Co. raised their target price on Marathon Petroleum from $172.00 to $186.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Finally, The Goldman Sachs Group increased their price objective on shares of Marathon Petroleum from $175.00 to $211.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.08.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $172.67 on Friday. The stock has a market capitalization of $60.84 billion, a P/E ratio of 8.62, a price-to-earnings-growth ratio of 1.55 and a beta of 1.45. Marathon Petroleum Co. has a 1 year low of $108.88 and a 1 year high of $221.11. The firm has a 50 day moving average of $181.41 and a 200-day moving average of $174.50. 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 announced its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.53 by $0.25. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The company had revenue of $32.71 billion for the quarter, compared to analysts’ expectations of $32.07 billion. During the same quarter in the prior year, the business earned $6.09 earnings per share. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Marathon Petroleum Co. will post 18.65 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Thursday, May 16th were paid a $0.825 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.91%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Marathon Petroleum declared that its board has initiated a stock repurchase plan on Tuesday, April 30th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire up to 7.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.