Marcum Wealth LLC Acquires 997 Shares of Marathon Petroleum Co. (NYSE:MPC)

Marcum Wealth LLC boosted its holdings in Marathon Petroleum Co. (NYSE:MPC) by 34.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,852 shares of the oil and gas company’s stock after purchasing an additional 997 shares during the quarter. Marcum Wealth LLC’s holdings in Marathon Petroleum were worth $776,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. NBC Securities Inc. boosted its stake in Marathon Petroleum by 0.9% in the 1st quarter. NBC Securities Inc. now owns 6,333 shares of the oil and gas company’s stock worth $1,276,000 after purchasing an additional 55 shares during the period. Bruce G. Allen Investments LLC boosted its stake in Marathon Petroleum by 27.3% in the 1st quarter. Bruce G. Allen Investments LLC now owns 275 shares of the oil and gas company’s stock worth $55,000 after purchasing an additional 59 shares during the period. Marino Stram & Associates LLC boosted its stake in Marathon Petroleum by 0.5% in the 4th quarter. Marino Stram & Associates LLC now owns 11,424 shares of the oil and gas company’s stock worth $1,695,000 after purchasing an additional 60 shares during the period. SteelPeak Wealth LLC boosted its stake in Marathon Petroleum by 0.3% in the 4th quarter. SteelPeak Wealth LLC now owns 20,408 shares of the oil and gas company’s stock worth $3,028,000 after purchasing an additional 67 shares during the period. Finally, Aaron Wealth Advisors LLC boosted its stake in Marathon Petroleum by 4.5% in the 4th quarter. Aaron Wealth Advisors LLC now owns 1,559 shares of the oil and gas company’s stock worth $231,000 after purchasing an additional 67 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Stock Performance

MPC stock opened at $172.67 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.43 and a debt-to-equity ratio of 0.85. The business’s fifty day simple moving average is $181.41 and its two-hundred day simple moving average is $174.50. Marathon Petroleum Co. has a twelve month low of $108.88 and a twelve month high of $221.11. The firm has a market cap of $60.84 billion, a price-to-earnings ratio of 8.62, a PEG ratio of 1.55 and a beta of 1.45.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.25. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The business had revenue of $32.71 billion for the quarter, compared to analyst estimates of $32.07 billion. During the same quarter last year, the firm posted $6.09 earnings per share. The business’s revenue was down 6.2% compared to the same quarter last year. Analysts predict that Marathon Petroleum Co. will post 18.65 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

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

Marathon Petroleum declared that its Board of Directors has initiated a share buyback plan on Tuesday, April 30th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

MPC has been the subject of a number of research reports. Barclays lowered their target price on Marathon Petroleum from $221.00 to $195.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. The Goldman Sachs Group increased their target price on Marathon Petroleum from $175.00 to $211.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Scotiabank increased their target price on Marathon Petroleum from $175.00 to $207.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Tudor Pickering upgraded Marathon Petroleum to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, JPMorgan Chase & Co. increased their target price on Marathon Petroleum from $172.00 to $186.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $192.08.

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.