Mcdonald Partners LLC Has $2.03 Million Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Mcdonald Partners LLC reduced its position in Marathon Petroleum Co. (NYSE:MPC) by 1.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,066 shares of the oil and gas company’s stock after selling 98 shares during the period. Mcdonald Partners LLC’s holdings in Marathon Petroleum were worth $2,028,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Marathon Petroleum during the 4th quarter worth about $25,000. ICA Group Wealth Management LLC acquired a new position in Marathon Petroleum during the fourth quarter valued at approximately $30,000. Vima LLC bought a new position in shares of Marathon Petroleum in the fourth quarter valued at approximately $30,000. Bruce G. Allen Investments LLC bought a new stake in shares of Marathon Petroleum during the 4th quarter worth $32,000. Finally, Bare Financial Services Inc acquired a new position in Marathon Petroleum in the 4th quarter valued at $32,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MPC has been the topic of several research analyst reports. The Goldman Sachs Group raised their price target on Marathon Petroleum from $175.00 to $211.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Barclays cut their price target on Marathon Petroleum from $221.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, May 6th. Bank of America boosted their target price on shares of Marathon Petroleum from $185.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Piper Sandler reduced their price target on shares of Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a report on Friday, June 14th. Finally, Tudor Pickering upgraded shares of Marathon Petroleum to a “strong-buy” rating in a report on Thursday, May 30th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $192.08.

Marathon Petroleum Price Performance

NYSE:MPC traded down $0.95 during trading hours on Wednesday, reaching $174.24. The company had a trading volume of 1,704,033 shares, compared to its average volume of 2,730,656. The company has a quick ratio of 0.99, a current ratio of 1.43 and a debt-to-equity ratio of 0.85. The stock has a 50-day moving average of $180.17 and a two-hundred day moving average of $175.35. Marathon Petroleum Co. has a one year low of $112.42 and a one year high of $221.11. The firm has a market capitalization of $61.39 billion, a PE ratio of 8.71, a PEG ratio of 1.61 and a beta of 1.45.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.25. The business had revenue of $32.71 billion during the quarter, compared to analysts’ expectations of $32.07 billion. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter last year, the company posted $6.09 EPS. Analysts forecast that Marathon Petroleum Co. will post 18.18 earnings per share for the current year.

Marathon Petroleum announced that its Board of Directors has approved a stock repurchase program on Tuesday, April 30th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to buy up to 7.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were issued a dividend of $0.825 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $3.30 dividend on an annualized basis and a yield of 1.89%. Marathon Petroleum’s dividend payout ratio 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.