FineMark National Bank & Trust lifted its holdings in Marathon Petroleum Co. (NYSE:MPC – Free Report) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,650 shares of the oil and gas company’s stock after buying an additional 154 shares during the period. FineMark National Bank & Trust’s holdings in Marathon Petroleum were worth $1,501,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of MPC. Scarborough Advisors LLC boosted its position in Marathon Petroleum by 10.7% in the fourth quarter. Scarborough Advisors LLC now owns 2,174 shares of the oil and gas company’s stock worth $323,000 after purchasing an additional 210 shares during the last quarter. Global Assets Advisory LLC purchased a new position in shares of Marathon Petroleum in the 1st quarter worth about $36,823,000. Founders Financial Securities LLC grew its position in Marathon Petroleum by 22.8% during the second quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock valued at $863,000 after buying an additional 924 shares during the period. Canoe Financial LP purchased a new stake in Marathon Petroleum during the fourth quarter worth about $33,604,000. Finally, Fidelis Capital Partners LLC raised its position in Marathon Petroleum by 3.2% in the first quarter. Fidelis Capital Partners LLC now owns 3,050 shares of the oil and gas company’s stock worth $615,000 after acquiring an additional 94 shares during the period. Hedge funds and other institutional investors own 76.77% of the company’s stock.
Marathon Petroleum Price Performance
Shares of NYSE:MPC opened at $168.46 on Friday. The company has a 50 day moving average of $171.36 and a 200 day moving average of $180.24. 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 stock has a market cap of $59.35 billion, a P/E ratio of 8.41, a P/E/G ratio of 2.33 and a beta of 1.40. Marathon Petroleum Co. has a 12 month low of $139.32 and a 12 month high of $221.11.
Marathon Petroleum Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be given a dividend of $0.825 per share. The ex-dividend date is Wednesday, August 21st. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.96%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.
Analyst Ratings Changes
A number of research analysts have recently weighed in on the stock. Jefferies Financial Group increased their target price on shares of Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Piper Sandler decreased their target price on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a research report on Friday, June 14th. Barclays dropped their price target on Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating on the stock in a research report on Monday, July 1st. Wells Fargo & Company decreased their price objective on Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Finally, Mizuho dropped their price objective on shares of Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $198.38.
Check Out Our Latest Stock Analysis on Marathon Petroleum
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.
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