Net Worth Advisory Group Purchases New Holdings in Marathon Petroleum Co. (NYSE:MPC)

Net Worth Advisory Group acquired a new position in Marathon Petroleum Co. (NYSE:MPC) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 8,474 shares of the oil and gas company’s stock, valued at approximately $1,381,000.

A number of other institutional investors and hedge funds have also modified their holdings of MPC. FinTrust Capital Advisors LLC lifted its stake in 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 worth $25,000 after purchasing an additional 100 shares during the period. Crewe Advisors LLC bought a new stake in Marathon Petroleum in the first quarter valued at $29,000. TruNorth Capital Management LLC bought a new stake in shares of Marathon Petroleum in the 2nd quarter worth about $35,000. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Marathon Petroleum during the 2nd quarter worth about $35,000. Finally, Wellington Shields & Co. LLC bought a new position in Marathon Petroleum during the 1st quarter valued at about $40,000. 76.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MPC shares. Mizuho dropped their price objective on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Tudor, Pickering, Holt & Co. downgraded Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. BMO Capital Markets reduced their price objective on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. JPMorgan Chase & Co. lowered their target price on Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Finally, Scotiabank decreased their price objective on shares of Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus price target of $187.00.

Marathon Petroleum Stock Down 0.0 %

NYSE:MPC opened at $158.26 on Friday. The stock’s fifty day simple moving average is $167.72 and its 200-day simple moving average is $175.90. The firm has a market capitalization of $55.76 billion, a P/E ratio of 7.91, a P/E/G ratio of 2.65 and a beta of 1.37. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. Marathon Petroleum Co. has a 12-month low of $140.98 and a 12-month high of $221.11.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The company had revenue of $38.36 billion for the quarter, compared to analysts’ expectations of $36.66 billion. During the same period last year, the firm posted $5.32 earnings per share. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. Equities research analysts expect that Marathon Petroleum Co. will post 10.22 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were given a $0.825 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $3.30 annualized dividend and a yield of 2.09%. Marathon Petroleum’s dividend payout ratio is currently 16.48%.

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.