Marathon Petroleum Co. (NYSE:MPC) Holdings Raised by Granite Bay Wealth Management LLC

Granite Bay Wealth Management LLC increased its stake in Marathon Petroleum Co. (NYSE:MPC) by 20.6% during the third quarter, HoldingsChannel reports. The firm owned 28,328 shares of the oil and gas company’s stock after acquiring an additional 4,838 shares during the period. Marathon Petroleum accounts for approximately 2.6% of Granite Bay Wealth Management LLC’s holdings, making the stock its 15th biggest position. Granite Bay Wealth Management LLC’s holdings in Marathon Petroleum were worth $4,615,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Wealth Planning LLC raised its holdings in shares of Marathon Petroleum by 10,902.9% during the first 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 in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Marathon Petroleum by 980.3% in the 2nd 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 buying an additional 621,336 shares in the last quarter. Schroder Investment Management Group increased its holdings in 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 worth $95,483,000 after buying an additional 486,573 shares during the last quarter. Panagora Asset Management Inc. raised its position 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 valued at $107,393,000 after acquiring an additional 241,746 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its stake in Marathon Petroleum by 8.5% in the second quarter. Pacer Advisors Inc. now owns 2,669,815 shares of the oil and gas company’s stock valued at $463,160,000 after acquiring an additional 209,270 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Up 5.7 %

Shares of MPC opened at $174.80 on Friday. The firm has a market capitalization of $61.59 billion, a price-to-earnings ratio of 8.73, a PEG ratio of 2.59 and a beta of 1.38. Marathon Petroleum Co. has a 52 week low of $139.32 and a 52 week high of $221.11. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31. The business’s fifty day moving average price is $169.70 and its two-hundred day moving average price is $178.67.

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

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were paid a $0.825 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $3.30 annualized dividend and a dividend yield of 1.89%. Marathon Petroleum’s dividend payout ratio is presently 16.48%.

Wall Street Analyst Weigh In

MPC has been the topic of a number of recent research reports. Scotiabank cut their price target on shares of Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Barclays lowered their price target on Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating on the stock in a report on Monday, July 1st. Jefferies Financial Group boosted their price objective on shares of Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Wells Fargo & Company dropped their price objective on Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Finally, Morgan Stanley decreased their target price on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Marathon Petroleum presently has a consensus rating of “Hold” and an average target price of $196.62.

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.