E&G Advisors LP Has $455,000 Stake in Marathon Petroleum Co. (NYSE:MPC)

E&G Advisors LP boosted its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 5.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,259 shares of the oil and gas company’s stock after acquiring an additional 120 shares during the quarter. E&G Advisors LP’s holdings in Marathon Petroleum were worth $455,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Marathon Petroleum during the fourth quarter worth $25,000. ICA Group Wealth Management LLC acquired a new position in Marathon Petroleum during the fourth quarter worth $30,000. Vima LLC acquired a new position in Marathon Petroleum during the fourth quarter worth $30,000. Manchester Capital Management LLC increased its stake in shares of Marathon Petroleum by 97.2% in the fourth quarter. Manchester Capital Management LLC now owns 215 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 106 shares in the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new stake in shares of Marathon Petroleum in the fourth quarter valued at $32,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MPC. Tudor Pickering upgraded Marathon Petroleum to a “strong-buy” rating in a research note on Thursday, May 30th. Wells Fargo & Company lowered their target price on Marathon Petroleum from $227.00 to $223.00 and set an “overweight” rating for the company in a research note on Thursday, June 6th. The Goldman Sachs Group raised their target price on Marathon Petroleum from $175.00 to $211.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Barclays lowered their target price on Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Bank of America raised their price target on Marathon Petroleum from $185.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $191.31.

Marathon Petroleum Trading Up 0.5 %

MPC traded up $0.85 during midday trading on Wednesday, reaching $174.99. 1,344,583 shares of the company were exchanged, compared to its average volume of 2,708,869. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 1.43. Marathon Petroleum Co. has a one year low of $112.82 and a one year high of $221.11. The stock has a market capitalization of $61.65 billion, a P/E ratio of 8.74, a PEG ratio of 1.62 and a beta of 1.40. The stock’s 50-day simple moving average is $177.73 and its 200 day simple moving average is $176.31.

Marathon Petroleum (NYSE:MPC) last issued 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. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The firm had revenue of $32.71 billion for the quarter, compared to analysts’ expectations of $32.07 billion. During the same quarter last year, the business earned $6.09 earnings per share. The company’s revenue was down 6.2% compared to the same quarter last year. As a group, analysts forecast that Marathon Petroleum Co. will post 17.85 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were given a $0.825 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $3.30 annualized dividend and a dividend yield of 1.89%. Marathon Petroleum’s dividend payout ratio is presently 16.48%.

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

About Marathon Petroleum

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.