Signature Estate & Investment Advisors LLC Invests $250,000 in Marathon Petroleum Co. (NYSE:MPC)

Signature Estate & Investment Advisors LLC acquired a new stake in shares of Marathon Petroleum Co. (NYSE:MPC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,440 shares of the oil and gas company’s stock, valued at approximately $250,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of MPC. Atria Wealth Solutions Inc. grew its holdings in shares of Marathon Petroleum by 4.4% during the 4th quarter. Atria Wealth Solutions Inc. now owns 19,474 shares of the oil and gas company’s stock valued at $2,889,000 after acquiring an additional 826 shares in the last quarter. Valmark Advisers Inc. lifted its holdings in shares of Marathon Petroleum by 3.8% during the fourth quarter. Valmark Advisers Inc. now owns 2,774 shares of the oil and gas company’s stock valued at $412,000 after acquiring an additional 101 shares during the period. Silver Oak Securities Incorporated bought a new stake in shares of Marathon Petroleum during the fourth quarter worth $203,000. Mather Group LLC. boosted its stake in shares of Marathon Petroleum by 10.9% in the 4th quarter. Mather Group LLC. now owns 7,854 shares of the oil and gas company’s stock valued at $1,165,000 after purchasing an additional 775 shares during the last quarter. Finally, Choreo LLC boosted its position in shares of Marathon Petroleum by 149.9% in the 4th quarter. Choreo LLC now owns 5,133 shares of the oil and gas company’s stock worth $762,000 after purchasing an additional 3,079 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their price objective on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. TD Cowen lifted their price target on Marathon Petroleum from $187.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Raymond James decreased their price target on shares of Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating on the stock in a research note on Thursday, May 30th. Jefferies Financial Group lifted their target price on Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, StockNews.com downgraded Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $198.38.

Marathon Petroleum Trading Down 0.9 %

NYSE MPC traded down $1.61 during trading hours on Tuesday, reaching $171.59. The company’s stock had a trading volume of 280,683 shares, compared to its average volume of 2,611,210. 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 stock has a market cap of $60.46 billion, a P/E ratio of 8.65, a P/E/G ratio of 2.09 and a beta of 1.40. The firm has a fifty day simple moving average of $171.53 and a 200-day simple moving average of $180.25.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results 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. The company had revenue of $38.36 billion for the quarter, compared to analyst estimates of $36.66 billion. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. Marathon Petroleum’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.32 earnings per share. Equities analysts forecast that Marathon Petroleum Co. will post 13.84 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be issued a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Wednesday, August 21st. Marathon Petroleum’s payout ratio is presently 16.48%.

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

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.