Successful Portfolios LLC Invests $265,000 in Marathon Petroleum Co. (NYSE:MPC)

Successful Portfolios LLC purchased a new position in Marathon Petroleum Co. (NYSE:MPC) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,316 shares of the oil and gas company’s stock, valued at approximately $265,000.

Other large investors also recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Marathon Petroleum during the 4th quarter valued at approximately $25,000. ICA Group Wealth Management LLC purchased a new stake in shares of Marathon Petroleum in the fourth quarter valued at $30,000. Vima LLC purchased a new position in shares of Marathon Petroleum during the 4th quarter worth about $30,000. Bruce G. Allen Investments LLC bought a new position in Marathon Petroleum during the 4th quarter valued at about $32,000. Finally, Bare Financial Services Inc purchased a new stake in Marathon Petroleum in the 4th quarter worth about $32,000. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $173.48 on Monday. The firm has a market cap of $61.12 billion, a price-to-earnings ratio of 8.67, a PEG ratio of 1.62 and a beta of 1.40. The company’s 50 day moving average is $178.71 and its 200 day moving average is $175.96. The company has a quick ratio of 0.99, a current ratio of 1.43 and a debt-to-equity ratio of 0.85. Marathon Petroleum Co. has a 52-week low of $112.82 and a 52-week high of $221.11.

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 (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.25. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The business had revenue of $32.71 billion for the quarter, compared to analyst estimates of $32.07 billion. During the same period in the previous year, the company earned $6.09 earnings per share. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. On average, sell-side analysts anticipate that Marathon Petroleum Co. will post 17.85 EPS for the current fiscal year.

Marathon Petroleum declared that its board has initiated a stock buyback program 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 repurchase up to 7.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were issued a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio is currently 16.48%.

Wall Street Analyst Weigh In

MPC has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Marathon Petroleum from $172.00 to $186.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. Wells Fargo & Company decreased 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. Piper Sandler decreased their price objective on shares of Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a research note on Friday, June 14th. StockNews.com downgraded shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Finally, Scotiabank raised their target price on shares of Marathon Petroleum from $175.00 to $207.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. 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. According to MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus price target of $192.08.

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.