Marathon Petroleum Co. (NYSE:MPC) Stake Lifted by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. increased its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 7.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,874 shares of the oil and gas company’s stock after buying an additional 135 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Marathon Petroleum were worth $305,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Granite Bay Wealth Management LLC acquired a new position in Marathon Petroleum during the 2nd quarter worth $219,537,000. Capital Wealth Planning LLC boosted its position in 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 acquiring an additional 1,100,536 shares during the period. Assenagon Asset Management S.A. boosted its position in Marathon Petroleum by 980.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 684,718 shares of the oil and gas company’s stock worth $118,785,000 after acquiring an additional 621,336 shares during the period. Panagora Asset Management Inc. boosted its position in Marathon Petroleum by 64.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 619,049 shares of the oil and gas company’s stock worth $107,393,000 after acquiring an additional 241,746 shares during the period. Finally, Pacer Advisors Inc. boosted its position in Marathon Petroleum by 8.5% during the 2nd quarter. Pacer Advisors Inc. now owns 2,669,815 shares of the oil and gas company’s stock worth $463,160,000 after acquiring an additional 209,270 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Stock Up 0.8 %

NYSE:MPC opened at $158.24 on Wednesday. The firm has a market capitalization of $55.75 billion, a price-to-earnings ratio of 7.90, a PEG ratio of 2.65 and a beta of 1.37. Marathon Petroleum Co. has a 1-year low of $140.98 and a 1-year high of $221.11. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86. The business’s fifty day moving average price is $166.98 and its 200 day moving average price is $174.53.

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, beating the consensus estimate of $3.09 by $1.03. The firm had revenue of $38.36 billion for the quarter, compared to analyst estimates of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. Marathon Petroleum’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $5.32 earnings per share. On average, sell-side analysts forecast that Marathon Petroleum Co. will post 10.22 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were given a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 2.09%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s payout ratio is currently 16.48%.

Wall Street Analysts Forecast Growth

MPC has been the subject of several research analyst reports. Tudor Pickering lowered Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 9th. Piper Sandler cut their price objective on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, September 20th. TD Cowen upped their price objective on Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. cut their price objective on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, Tudor, Pickering, Holt & Co. lowered Marathon Petroleum from a “buy” rating to a “sell” rating in a report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $187.00.

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.