High Note Wealth LLC Has $1.34 Million Stock Position in Marathon Petroleum Co. (NYSE:MPC)

High Note Wealth LLC decreased its position in Marathon Petroleum Co. (NYSE:MPC) by 2.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 8,236 shares of the oil and gas company’s stock after selling 247 shares during the period. High Note Wealth LLC’s holdings in Marathon Petroleum were worth $1,342,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. First Financial Bankshares Inc acquired a new stake in Marathon Petroleum in the 4th quarter valued at about $654,000. Point72 Europe London LLP acquired a new stake in Marathon Petroleum in the 4th quarter valued at about $1,859,000. Cohen & Steers Inc. lifted its stake in Marathon Petroleum by 43.2% in the 4th quarter. Cohen & Steers Inc. now owns 24,358 shares of the oil and gas company’s stock valued at $3,614,000 after purchasing an additional 7,346 shares during the last quarter. Brevan Howard Capital Management LP lifted its stake in Marathon Petroleum by 939.2% in the 4th quarter. Brevan Howard Capital Management LP now owns 31,082 shares of the oil and gas company’s stock valued at $4,611,000 after purchasing an additional 28,091 shares during the last quarter. Finally, Financial Network Wealth Advisors LLC acquired a new stake in Marathon Petroleum during the fourth quarter worth approximately $464,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

MPC has been the subject of several research reports. Wolfe Research initiated coverage on shares of Marathon Petroleum in a research report on Thursday, July 18th. They set an “outperform” rating and a $200.00 price objective for the company. Morgan Stanley cut their price objective on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. JPMorgan Chase & Co. cut their price objective on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a research report on Wednesday. Barclays cut their price objective on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a research report on Monday, July 1st. Finally, StockNews.com downgraded shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $195.14.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC opened at $162.67 on Thursday. The company’s 50 day simple moving average is $169.35 and its 200 day simple moving average is $177.79. The stock has a market capitalization of $57.31 billion, a price-to-earnings ratio of 8.13, a price-to-earnings-growth ratio of 2.59 and a beta of 1.37. 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 Co. has a 1 year low of $140.98 and a 1 year high of $221.11.

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

Marathon Petroleum Announces Dividend

The company also recently disclosed 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 of this dividend was Wednesday, August 21st. This represents a $3.30 dividend on an annualized basis and a yield of 2.03%. Marathon Petroleum’s dividend payout ratio (DPR) is 16.48%.

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.