IHT Wealth Management LLC boosted its holdings in shares of Marathon Petroleum Co. (NYSE:MPC – Get Rating) by 57.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,516 shares of the oil and gas company’s stock after purchasing an additional 2,734 shares during the quarter. IHT Wealth Management LLC’s holdings in Marathon Petroleum were worth $747,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its stake in Marathon Petroleum by 3.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,470,772 shares of the oil and gas company’s stock valued at $543,405,000 after purchasing an additional 163,151 shares during the period. Royal Bank of Canada boosted its stake in Marathon Petroleum by 1.1% during the 3rd quarter. Royal Bank of Canada now owns 3,934,897 shares of the oil and gas company’s stock valued at $390,854,000 after purchasing an additional 42,273 shares during the period. Legal & General Group Plc boosted its stake in Marathon Petroleum by 2.6% during the 2nd quarter. Legal & General Group Plc now owns 3,844,618 shares of the oil and gas company’s stock valued at $316,065,000 after purchasing an additional 98,903 shares during the period. FMR LLC lifted its position in shares of Marathon Petroleum by 11.1% in the 2nd quarter. FMR LLC now owns 3,355,493 shares of the oil and gas company’s stock worth $275,856,000 after acquiring an additional 335,015 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of Marathon Petroleum by 59.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,975,199 shares of the oil and gas company’s stock worth $244,591,000 after acquiring an additional 1,112,575 shares during the period. Institutional investors own 76.48% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have commented on MPC shares. Cowen raised their price objective on Marathon Petroleum from $133.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 1st. Piper Sandler reduced their price objective on Marathon Petroleum from $153.00 to $143.00 and set a “neutral” rating for the company in a research report on Monday, December 19th. Morgan Stanley raised their price objective on Marathon Petroleum from $125.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, January 20th. Mizuho upgraded Marathon Petroleum from a “neutral” rating to a “buy” rating and raised their target price for the stock from $133.00 to $160.00 in a research report on Friday, March 10th. Finally, Jefferies Financial Group upgraded Marathon Petroleum from a “hold” rating to a “buy” rating and raised their target price for the stock from $134.00 to $157.00 in a research report on Friday, March 3rd. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Marathon Petroleum has an average rating of “Buy” and a consensus target price of $138.63.
Marathon Petroleum Trading Down 1.2 %
MPC stock opened at $123.66 on Friday. The business has a fifty day moving average price of $125.04 and a 200 day moving average price of $115.23. Marathon Petroleum Co. has a fifty-two week low of $76.06 and a fifty-two week high of $136.46. The stock has a market capitalization of $54.61 billion, a price-to-earnings ratio of 4.33, a P/E/G ratio of 0.21 and a beta of 1.60. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.76 and a quick ratio of 1.32.
Marathon Petroleum (NYSE:MPC – Get Rating) last released its earnings results on Tuesday, January 31st. The oil and gas company reported $6.65 EPS for the quarter, beating the consensus estimate of $5.54 by $1.11. The company had revenue of $39.82 billion during the quarter, compared to analysts’ expectations of $35.29 billion. Marathon Petroleum had a return on equity of 41.55% and a net margin of 8.07%. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period last year, the firm earned $1.30 EPS. Analysts expect that Marathon Petroleum Co. will post 19.88 EPS for the current fiscal year.
Marathon Petroleum Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Thursday, February 16th were paid a $0.75 dividend. The ex-dividend date was Wednesday, February 15th. This represents a $3.00 annualized dividend and a dividend yield of 2.43%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 10.49%.
Marathon Petroleum Company Profile
Marathon Petroleum Corp. is an independent company, which engages in the refining, marketing, and transportation of petroleum products in the United States. It operates through the following segments: Refining and Marketing, and Midstream. The Refining and Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals, and trucks that the company owns or operates.
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