Thrivent Financial for Lutherans Has $78.67 Million Holdings in Marathon Petroleum Co. (NYSE:MPC)

Thrivent Financial for Lutherans grew its stake in Marathon Petroleum Co. (NYSE:MPC) by 3.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 453,501 shares of the oil and gas company’s stock after buying an additional 16,778 shares during the period. Thrivent Financial for Lutherans’ holdings in Marathon Petroleum were worth $78,673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Granite Bay Wealth Management LLC acquired a new stake in Marathon Petroleum during the second quarter worth about $219,537,000. Capital Wealth Planning LLC grew its holdings in shares of Marathon Petroleum by 10,902.9% during the 1st quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock worth $223,792,000 after purchasing an additional 1,100,536 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Marathon Petroleum by 980.3% during the second quarter. Assenagon Asset Management S.A. now owns 684,718 shares of the oil and gas company’s stock valued at $118,785,000 after purchasing an additional 621,336 shares during the period. Schroder Investment Management Group raised its stake in shares of Marathon Petroleum by 309.9% in the fourth quarter. Schroder Investment Management Group now owns 643,590 shares of the oil and gas company’s stock valued at $95,483,000 after purchasing an additional 486,573 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its stake in Marathon Petroleum by 64.1% during the second quarter. Panagora Asset Management Inc. now owns 619,049 shares of the oil and gas company’s stock worth $107,393,000 after buying an additional 241,746 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Marathon Petroleum stock opened at $164.39 on Friday. The stock has a 50-day simple moving average of $169.99 and a 200 day simple moving average of $179.80. The stock has a market capitalization of $57.92 billion, a price-to-earnings ratio of 8.21, a P/E/G ratio of 2.09 and a beta of 1.38. 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.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, beating the consensus estimate of $3.09 by $1.03. The company had revenue of $38.36 billion during the quarter, compared to analysts’ expectations of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the firm earned $5.32 EPS. On average, research analysts anticipate that Marathon Petroleum Co. will post 12.68 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were paid a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 2.01%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MPC. Tudor, Pickering, Holt & Co. cut shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research note on Monday, September 9th. Scotiabank dropped their price target on shares of Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Wells Fargo & Company decreased their price objective on Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Morgan Stanley lowered their price objective on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Finally, StockNews.com downgraded Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $197.69.

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.