Marathon Petroleum Co. (NYSE:MPC) Holdings Raised by Summit Financial LLC

Summit Financial LLC increased its stake in Marathon Petroleum Co. (NYSE:MPC) by 132.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,937 shares of the oil and gas company’s stock after purchasing an additional 1,674 shares during the quarter. Summit Financial LLC’s holdings in Marathon Petroleum were worth $510,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of MPC. FinTrust Capital Advisors LLC lifted its position in shares of Marathon Petroleum by 400.0% in the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Crewe Advisors LLC purchased a new stake in shares of Marathon Petroleum in the first quarter valued at $29,000. ICA Group Wealth Management LLC acquired a new stake in shares of Marathon Petroleum in the fourth quarter worth $30,000. Vima LLC acquired a new position in Marathon Petroleum during the fourth quarter valued at $30,000. Finally, Manchester Capital Management LLC lifted its stake in Marathon Petroleum by 97.2% in the 4th quarter. Manchester Capital Management LLC now owns 215 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 106 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Raymond James dropped their target price on Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating on the stock in a report on Thursday, May 30th. JPMorgan Chase & Co. dropped their price objective on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Scotiabank decreased their target price on shares of Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Barclays lowered their price target on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating on the stock in a report on Monday, July 1st. Finally, StockNews.com cut Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. 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, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average price target of $198.38.

Marathon Petroleum Trading Up 3.6 %

Shares of MPC stock opened at $177.12 on Tuesday. The business’s 50 day moving average is $171.53 and its two-hundred day moving average is $180.36. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. Marathon Petroleum Co. has a 12 month low of $139.32 and a 12 month high of $221.11. The company has a market cap of $62.40 billion, a PE ratio of 8.85, a price-to-earnings-growth ratio of 2.33 and a beta of 1.40.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, topping the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The firm had revenue of $38.36 billion for the quarter, compared to the consensus estimate of $36.66 billion. During the same quarter last year, the firm posted $5.32 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. Equities analysts predict that Marathon Petroleum Co. will post 12.68 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio (DPR) is currently 16.48%.

About Marathon Petroleum

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.