Riverview Trust Co Makes New Investment in Marathon Petroleum Co. (NYSE:MPC)

Riverview Trust Co bought a new position in Marathon Petroleum Co. (NYSE:MPC) in the 1st quarter, HoldingsChannel reports. The fund bought 340 shares of the oil and gas company’s stock, valued at approximately $69,000.

A number of other institutional investors also recently made changes to their positions in MPC. NBC Securities Inc. raised its stake in shares of Marathon Petroleum by 0.9% during the first quarter. NBC Securities Inc. now owns 6,333 shares of the oil and gas company’s stock worth $1,276,000 after buying an additional 55 shares during the last quarter. Bruce G. Allen Investments LLC raised its stake in shares of Marathon Petroleum by 27.3% during the first quarter. Bruce G. Allen Investments LLC now owns 275 shares of the oil and gas company’s stock worth $55,000 after buying an additional 59 shares during the last quarter. Marino Stram & Associates LLC raised its stake in shares of Marathon Petroleum by 0.5% during the fourth quarter. Marino Stram & Associates LLC now owns 11,424 shares of the oil and gas company’s stock worth $1,695,000 after buying an additional 60 shares during the last quarter. SteelPeak Wealth LLC raised its stake in shares of Marathon Petroleum by 0.3% during the fourth quarter. SteelPeak Wealth LLC now owns 20,408 shares of the oil and gas company’s stock worth $3,028,000 after buying an additional 67 shares during the last quarter. Finally, Aaron Wealth Advisors LLC raised its stake in shares of Marathon Petroleum by 4.5% during the fourth quarter. Aaron Wealth Advisors LLC now owns 1,559 shares of the oil and gas company’s stock worth $231,000 after buying an additional 67 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on MPC. The Goldman Sachs Group boosted their price target on shares of Marathon Petroleum from $175.00 to $211.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Wells Fargo & Company dropped their price target on shares of Marathon Petroleum from $227.00 to $223.00 and set an “overweight” rating for the company in a research note on Thursday, June 6th. Mizuho decreased their price objective on shares of Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating for the company in a report on Thursday, June 20th. Raymond James decreased their price objective on shares of Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating for the company in a report on Thursday, May 30th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Marathon Petroleum from $172.00 to $186.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus price target of $192.08.

Marathon Petroleum Stock Up 0.7 %

Marathon Petroleum stock opened at $175.25 on Wednesday. The stock has a market capitalization of $61.75 billion, a PE ratio of 8.75, a price-to-earnings-growth ratio of 1.55 and a beta of 1.45. Marathon Petroleum Co. has a twelve month low of $111.27 and a twelve month high of $221.11. 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 company has a 50 day moving average of $180.17 and a 200-day moving average of $175.35.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.25. The company had revenue of $32.71 billion during the quarter, compared to analysts’ expectations of $32.07 billion. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.09 earnings per share. On average, equities research analysts anticipate that Marathon Petroleum Co. will post 18.74 EPS for the current fiscal year.

Marathon Petroleum declared that its Board of Directors has approved a stock buyback program on Tuesday, April 30th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the oil and gas company to reacquire up to 7.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were issued a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Wednesday, May 15th. Marathon Petroleum’s payout ratio is 16.48%.

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.