Scientech Research LLC Invests $1.76 Million in Marathon Petroleum Co. (NYSE:MPC)

Scientech Research LLC bought a new stake in shares of Marathon Petroleum Co. (NYSE:MPC) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 10,165 shares of the oil and gas company’s stock, valued at approximately $1,763,000.

A number of other large investors also recently added to or reduced their stakes in the business. FinTrust Capital Advisors LLC raised its position in shares of Marathon Petroleum by 400.0% during the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 100 shares during the last quarter. Crewe Advisors LLC purchased a new position in Marathon Petroleum during the first quarter valued at $29,000. ICA Group Wealth Management LLC bought a new stake in Marathon Petroleum in the 4th quarter valued at $30,000. Vima LLC purchased a new stake in Marathon Petroleum in the 4th quarter worth $30,000. Finally, TruNorth Capital Management LLC bought a new position in shares of Marathon Petroleum during the 2nd quarter valued at about $35,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MPC has been the topic of several research reports. Wolfe Research assumed coverage on Marathon Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $200.00 target price on the stock. Piper Sandler decreased their price objective on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. JPMorgan Chase & Co. cut their target price on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Jefferies Financial Group upped their price target on shares of Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Wells Fargo & Company dropped their price objective on shares of Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $197.69.

Marathon Petroleum Stock Up 1.1 %

Shares of NYSE MPC opened at $163.38 on Friday. Marathon Petroleum Co. has a 1 year low of $139.32 and a 1 year high of $221.11. The firm has a 50-day simple moving average of $169.73 and a two-hundred day simple moving average of $179.37. The company has a market cap of $57.56 billion, a P/E ratio of 8.16, a PEG ratio of 2.59 and a beta of 1.38. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The firm had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. During the same period last year, the company earned $5.32 EPS. Marathon Petroleum’s quarterly revenue was up 4.2% compared to the same quarter last year. Research analysts anticipate that Marathon Petroleum Co. will post 10.56 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were paid a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio is presently 16.48%.

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.