Lake Street Private Wealth LLC Has $1.12 Million Holdings in Marathon Petroleum Co. (NYSE:MPC)

Lake Street Private Wealth LLC increased its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 24.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,552 shares of the oil and gas company’s stock after buying an additional 1,080 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Marathon Petroleum were worth $1,119,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. E&G Advisors LP raised its stake in shares of Marathon Petroleum by 5.6% in the 1st quarter. E&G Advisors LP now owns 2,259 shares of the oil and gas company’s stock valued at $455,000 after buying an additional 120 shares in the last quarter. Santori & Peters Inc. acquired a new position in Marathon Petroleum in the first quarter worth about $208,000. Valeo Financial Advisors LLC boosted its holdings in Marathon Petroleum by 1.3% during the first quarter. Valeo Financial Advisors LLC now owns 8,136 shares of the oil and gas company’s stock valued at $1,639,000 after purchasing an additional 102 shares in the last quarter. Tradewinds Capital Management LLC grew its stake in shares of Marathon Petroleum by 919.9% in the 1st quarter. Tradewinds Capital Management LLC now owns 2,927 shares of the oil and gas company’s stock valued at $590,000 after purchasing an additional 2,640 shares during the period. Finally, Monument Capital Management lifted its position in shares of Marathon Petroleum by 3.1% during the 1st quarter. Monument Capital Management now owns 17,607 shares of the oil and gas company’s stock worth $3,548,000 after buying an additional 527 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Trading Up 0.5 %

NYSE:MPC opened at $174.99 on Thursday. The company has a market cap of $61.65 billion, a P/E ratio of 8.74, a price-to-earnings-growth ratio of 1.63 and a beta of 1.40. Marathon Petroleum Co. has a twelve month low of $112.82 and a twelve month high of $221.11. The business has a 50 day moving average price of $177.73 and a two-hundred day moving average price of $176.31. 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 (NYSE:MPC) last issued its quarterly 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. The firm had revenue of $32.71 billion for 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 company’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted $6.09 EPS. As a group, analysts expect that Marathon Petroleum Co. will post 17.85 EPS for the current fiscal year.

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

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors 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 annualized dividend and a dividend yield of 1.89%. Marathon Petroleum’s dividend payout ratio is presently 16.48%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MPC shares. StockNews.com lowered Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Wells Fargo & Company cut their price target on shares of Marathon Petroleum from $227.00 to $223.00 and set an “overweight” rating for the company in a report on Thursday, June 6th. Scotiabank raised their price objective on shares of Marathon Petroleum from $175.00 to $207.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Piper Sandler dropped their price target on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a report on Friday, June 14th. Finally, JPMorgan Chase & Co. decreased their target price on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating on the stock in a report on Tuesday. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.31.

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.