Marathon Petroleum Co. (NYSE:MPC) Shares Acquired by Dorsey Wright & Associates

Dorsey Wright & Associates raised its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 147.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,375 shares of the oil and gas company’s stock after buying an additional 14,532 shares during the quarter. Marathon Petroleum comprises 1.1% of Dorsey Wright & Associates’ portfolio, making the stock its 23rd largest position. Dorsey Wright & Associates’ holdings in Marathon Petroleum were worth $4,229,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MPC. FinTrust Capital Advisors LLC raised its stake in 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 in the last quarter. Crewe Advisors LLC bought a new position in shares of Marathon Petroleum during the first quarter valued at approximately $29,000. ICA Group Wealth Management LLC bought a new position in shares of Marathon Petroleum during the fourth quarter valued at approximately $30,000. Vima LLC bought a new position in shares of Marathon Petroleum during the fourth quarter valued at approximately $30,000. Finally, TruNorth Capital Management LLC bought a new position in Marathon Petroleum in the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

MPC opened at $163.65 on Friday. The stock has a fifty day moving average of $169.73 and a 200-day moving average of $179.37. The firm has a market capitalization of $57.66 billion, a P/E ratio of 8.17, a PEG ratio of 2.59 and a beta of 1.38. Marathon Petroleum Co. has a 12-month low of $139.32 and a 12-month high of $221.11. 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 (NYSE:MPC) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The business had revenue of $38.36 billion for the quarter, compared to the consensus estimate of $36.66 billion. During the same period in the prior year, the business posted $5.32 earnings per share. Marathon Petroleum’s revenue for the quarter was up 4.2% compared to the same quarter last year. Equities analysts forecast that Marathon Petroleum Co. will post 10.56 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Wall Street Analysts Forecast Growth

MPC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price objective on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Barclays decreased their price objective on Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a report on Monday, July 1st. Piper Sandler cut their target price on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Wolfe Research began coverage on Marathon Petroleum in a research report on Thursday, July 18th. They issued an “outperform” rating and a $200.00 target price for the company. Finally, Tudor Pickering downgraded Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. 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 stock. Based on data from MarketBeat, Marathon Petroleum has a consensus rating of “Hold” and an average price target of $197.69.

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.