Marathon Petroleum Co. (NYSE:MPC) Shares Purchased by West Michigan Advisors LLC

West Michigan Advisors LLC increased its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 3.0% in the third quarter, Holdings Channel reports. The firm owned 18,347 shares of the oil and gas company’s stock after buying an additional 532 shares during the period. West Michigan Advisors LLC’s holdings in Marathon Petroleum were worth $2,989,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MPC. FinTrust Capital Advisors LLC grew its position in Marathon Petroleum by 400.0% in the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Crewe Advisors LLC acquired a new position in Marathon Petroleum in the 1st quarter valued at about $29,000. Wellington Shields & Co. LLC acquired a new position in Marathon Petroleum in the 1st quarter valued at about $40,000. TruNorth Capital Management LLC acquired a new position in Marathon Petroleum in the 2nd quarter valued at about $35,000. Finally, Industrial Alliance Investment Management Inc. acquired a new position in Marathon Petroleum in the 2nd quarter valued at about $35,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Piper Sandler lowered their price objective 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. Tudor, Pickering, Holt & Co. downgraded Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. Mizuho lowered their price objective on Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Wolfe Research assumed coverage on Marathon Petroleum in a research report on Thursday, July 18th. They set an “outperform” rating and a $200.00 price objective for the company. Finally, Wells Fargo & Company lowered their price objective on Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $187.00.

Marathon Petroleum Trading Down 0.6 %

MPC opened at $152.88 on Friday. The business’s 50 day moving average is $166.48 and its two-hundred day moving average is $174.39. Marathon Petroleum Co. has a 52 week low of $140.98 and a 52 week high of $221.11. The firm has a market cap of $51.17 billion, a price-to-earnings ratio of 8.03, a price-to-earnings-growth ratio of 3.03 and a beta of 1.37. 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 announced its 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. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The company had revenue of $38.36 billion for the quarter, compared to the consensus estimate of $36.66 billion. During the same period last year, the business posted $5.32 EPS. The company’s revenue was up 4.2% on a year-over-year basis. On average, research analysts predict that Marathon Petroleum Co. will post 8.71 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders 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 2.16%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 17.34%.

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.