Wallington Asset Management LLC Takes Position in Marathon Petroleum Co. (NYSE:MPC)

Wallington Asset Management LLC purchased a new stake in Marathon Petroleum Co. (NYSE:MPC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,365 shares of the oil and gas company’s stock, valued at approximately $222,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Founders Financial Securities LLC grew its holdings in shares of Marathon Petroleum by 22.8% in the 2nd quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock valued at $863,000 after buying an additional 924 shares during the period. Fidelis Capital Partners LLC grew its holdings in shares of Marathon Petroleum by 3.2% in the 1st quarter. Fidelis Capital Partners LLC now owns 3,050 shares of the oil and gas company’s stock valued at $615,000 after buying an additional 94 shares during the period. LRI Investments LLC acquired a new position in shares of Marathon Petroleum in the 1st quarter valued at $97,000. Magnolia Capital Advisors LLC boosted its stake in Marathon Petroleum by 353.4% in the 2nd quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company’s stock worth $9,713,000 after purchasing an additional 43,639 shares during the period. Finally, Hennessy Advisors Inc. boosted its stake in Marathon Petroleum by 117.4% in the 1st quarter. Hennessy Advisors Inc. now owns 52,600 shares of the oil and gas company’s stock worth $10,599,000 after purchasing an additional 28,400 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MPC. Jefferies Financial Group upped their target price on shares of Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Scotiabank reduced their target price on shares of Marathon Petroleum from $191.00 to $170.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Wolfe Research began coverage on shares of Marathon Petroleum in a research note on Thursday, July 18th. They issued an “outperform” rating and a $200.00 target price for the company. Barclays reduced their target price on shares of Marathon Petroleum from $180.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Finally, Tudor, Pickering, Holt & Co. cut shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Marathon Petroleum has an average rating of “Moderate Buy” and a consensus target price of $187.00.

Marathon Petroleum Stock Down 2.8 %

Shares of MPC stock opened at $153.76 on Thursday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31. The firm’s 50-day moving average is $166.48 and its 200-day moving average is $174.39. The stock has a market cap of $54.17 billion, a price-to-earnings ratio of 7.68, a PEG ratio of 2.65 and a beta of 1.37. Marathon Petroleum Co. has a 52-week low of $140.98 and a 52-week high of $221.11.

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

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were issued a $0.825 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $3.30 annualized dividend and a yield of 2.15%. 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.