MorganRosel Wealth Management LLC Purchases 4,768 Shares of Marathon Petroleum Co. (NYSE:MPC)

MorganRosel Wealth Management LLC boosted its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 202.2% in the first quarter, Holdings Channel reports. The fund owned 7,126 shares of the oil and gas company’s stock after purchasing an additional 4,768 shares during the quarter. MorganRosel Wealth Management LLC’s holdings in Marathon Petroleum were worth $1,436,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Marathon Petroleum in the fourth quarter worth approximately $25,000. ICA Group Wealth Management LLC purchased a new position in Marathon Petroleum during the fourth quarter valued at $30,000. Vima LLC bought a new stake in Marathon Petroleum in the 4th quarter valued at $30,000. Bruce G. Allen Investments LLC purchased a new stake in Marathon Petroleum in the 4th quarter worth $32,000. Finally, Bare Financial Services Inc bought a new position in shares of Marathon Petroleum during the 4th quarter valued at about $32,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC opened at $174.04 on Monday. 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 Co. has a 12 month low of $112.82 and a 12 month high of $221.11. The company has a market capitalization of $61.32 billion, a price-to-earnings ratio of 8.67, a PEG ratio of 1.62 and a beta of 1.40. The firm’s 50-day moving average is $178.71 and its 200 day moving average is $175.96.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, beating 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 firm 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 firm posted $6.09 earnings per share. The company’s quarterly revenue was down 6.2% on a year-over-year basis. Research analysts predict that Marathon Petroleum Co. will post 17.85 EPS for the current 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 given a dividend of $0.825 per share. The ex-dividend date was Wednesday, May 15th. This represents a $3.30 annualized dividend and a dividend yield of 1.90%. Marathon Petroleum’s dividend payout ratio (DPR) is 16.48%.

Marathon Petroleum announced that its board has initiated a stock repurchase plan on Tuesday, April 30th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 7.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Piper Sandler decreased their target price 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. Barclays decreased their price objective on Marathon Petroleum from $221.00 to $195.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Mizuho cut their target price 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. Scotiabank upped their price target on shares of Marathon Petroleum from $175.00 to $207.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Finally, Wells Fargo & Company dropped their price objective 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. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock 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.