Marathon Petroleum Co. (NYSE:MPC) Shares Bought by Dakota Wealth Management

Dakota Wealth Management lifted its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 0.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,207 shares of the oil and gas company’s stock after acquiring an additional 165 shares during the period. Dakota Wealth Management’s holdings in Marathon Petroleum were worth $4,199,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Marathon Petroleum during the fourth quarter valued at $25,000. FinTrust Capital Advisors LLC boosted its stake in shares of Marathon Petroleum by 400.0% during the first 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 during the last quarter. Crewe Advisors LLC acquired a new stake in shares of Marathon Petroleum during the first quarter valued at $29,000. ICA Group Wealth Management LLC acquired a new stake in shares of Marathon Petroleum during the fourth quarter valued at $30,000. Finally, Vima LLC acquired a new stake in shares of Marathon Petroleum during the fourth quarter valued at $30,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Shares of MPC traded down $5.46 during midday trading on Tuesday, reaching $173.44. The stock had a trading volume of 843,425 shares, compared to its average volume of 2,628,069. Marathon Petroleum Co. has a 52 week low of $139.32 and a 52 week high of $221.11. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 0.99. The firm’s 50 day moving average price is $171.36 and its 200-day moving average price is $180.10. The company has a market capitalization of $61.11 billion, a P/E ratio of 8.78, a P/E/G ratio of 2.09 and a beta of 1.40.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The company had revenue of $38.36 billion for the quarter, compared to the consensus estimate of $36.66 billion. During the same quarter in the previous year, the business earned $5.32 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, analysts forecast that Marathon Petroleum Co. will post 13.84 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be paid a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio is presently 16.48%.

Marathon Petroleum announced that its board has approved a share buyback program 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 reacquire up to 7.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Scotiabank reduced their target price on Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Tudor Pickering upgraded Marathon Petroleum to a “strong-buy” rating in a research report on Thursday, May 30th. Wells Fargo & Company reduced their target price on Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Piper Sandler reduced their target price on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. Finally, Jefferies Financial Group increased their target price on Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $198.38.

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.